SOON (Solana Optimistic Network) has taken a bold step forward by raising $22 million through a non-fungible token (NFT) sale. The funds will be used to launch its Ethereum-based Layer 2 (L2) mainnet and to enhance blockchain infrastructure.
Built on Ethereum and powered by the Solana Virtual Machine (SVM), SOON boasts an average block time of just 50 milliseconds, significantly outpacing Solana’s 400 milliseconds. This speed is achieved through innovative decoupling of its transaction processing unit (TPU).
Pioneering a Fair Launch Model
The $22 million NFT sale was led by Hack VC and supported by notable firms like ABCDE, Anagram, Hypersphere, and others. SOON’s co-founder and CEO, Joanna Zeng, emphasized their unique approach:
"We offered equal deal terms to both venture capitalists and the community to ensure fair token distribution."
SOON’s tokenomics reflect its community-first ethos. Over 51% of tokens are allocated to the community, while 25% are reserved for ecosystem growth. The remaining distribution includes airdrops, liquidity provision (8%), team incentives (10%), and treasury (6%).
A Game-Changer in Blockchain
SOON’s innovative and decentralized approach to token distribution mirrors trends seen with projects like Hyperliquid. Decentralized launches are gaining traction among investors, ensuring a fairer playing field for all participants.
By prioritizing speed, efficiency, and a community-driven model, SOON positions itself as a disruptive force in the blockchain ecosystem, setting the stage for a promising future.
