New Solana L2 – SolanaVM, Raises $750K in First Days of Presale, as TVL on Solana Skyrockets 40% in Last Month
London, UK, May 31st, 2024, Chainwire
SolanaVM, the first EVM-compatible L2 solution built for Solana, has generated significant momentum during its ongoing presale. In the first few days, the project has secured over $750,000 in funding. This trend highlights the growing interest in the Solana ecosystem and its potential to disrupt the DeFi landscape.
SolanaVM created L2’s innovative solution that allows Ethereum dApps to leverage Solana’s lightning-fast speed and minimal fees. This can play a huge role in the coming bull run, as it might significantly boost the whole Solana ecosystem and the activity of developers in Web3.
SolanaVM has launched the presale for its native token, $SVM. This multi-round presale offers $SVM at progressively increasing prices. With the token launch scheduled for Q3, the presale window is expected to close soon.
The team has allocated 15% of the total token supply for the presale, making it an attractive opportunity for those interested in the SolanaVM project.
Kelly, who is also the founder and CEO of the BKCM Digital Asset Fund in CNBC episode said: “You’ve got to think about Solana as probably the next one. Bitcoin, Ethereum and Solana are probably the big three for this cycle.”
Solana VM focuses specifically on bridging the gap between Ethereum, the current leader in DeFi, and Solana, a high-speed blockchain network. Total Value Locked on EVM is currently over 68,000,000,000, and the SVM L2 building the possibility for them to get to Solana Ecosystem.
SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana. This unlocks the immense potential of Solana’s architecture, which boasts:
- Speed: Solana Virtual Machine can handle thousands of transactions per second, compared to Ethereum’s current limit, which allow instant transactions for DeFi users.
- Significantly Lower Fees: Solana’s efficient design keeps transaction fees to a minimum, making DeFi applications more affordable for everyone.
SolanaVM isn’t just about speed and cost savings. It’s a win-win situation for both developers and users:
- Effortless Migration: Developers can migrate their Ethereum applications to Solana with minimal code changes, thanks to Solana VM’s compatibility features.
- Familiar interface: Users can continue using the tools and interfaces they’re already comfortable with, while enjoying the benefits of Solana’s high-speed network.
- A More Inclusive DeFi Ecosystem: By removing the barriers of slow speeds and high fees, SVM opens the door for wider adoption and innovation within DeFi.
Users can visit their website and join their Telegram Community to learn more and become part of this revolutionary movement.
SolanaVM is more than just a bridge – it’s a leap forward in DeFi technology. By leveraging the power of Solana, it has the potential to revolutionize the way we interact with apps in a decentralized world. Further updates can be tracked in their official Twitter: https://twitter.com/solanaVM
About
SolanaVM is a groundbreaking project founded by a team of dedicated developers passionate about the future of DeFi. Their vision is to bridge the gap between the established ecosystem of Ethereum and the power of Solana. By achieving this, SolanaVM aims to create a more efficient, accessible, and innovative landscape for DeFi.
