SOON has successfully launched its mainnet following a significant $22 million NFT sale. This achievement marks a pivotal moment in the project’s development, with the funds raised aimed at enhancing blockchain infrastructure and supporting the growth of the SOON ecosystem.
Mainnet Launch and Layer-2 Solution
The announcement of the mainnet launch coincides with the rollout of SOON’s general-purpose layer-2 solution, which utilizes the Solana Virtual Machine as its execution layer. Built on Ethereum, SOON claims to surpass Solana in both speed and efficiency, boasting average block times of just 50 milliseconds, compared to Solana’s 400 milliseconds.
This remarkable improvement is attributed to SOON’s innovative method of decoupling the transaction processing unit. This approach enables horizontal scaling and significantly faster transaction speeds, positioning SOON as a competitive player in the blockchain landscape.
Community-First Tokenomics
In a departure from traditional fundraising methods, SOON has adopted a community-first strategy in its tokenomics. More than 51% of the total token supply is allocated to the community, ensuring that both venture capitalists and community members can participate equally in the project.
- 25% for an ecosystem fund
- 8% for airdrops and liquidity provision
- 10% for the team and core builders
- 6% for the project’s treasury
This allocation reflects a growing trend towards fair-launch tokens that prioritize transparency and equity, appealing to investors who value these principles in the crypto space. The recent decentralized launch of the Hyperliquid token has demonstrated the success of this model, attracting significant attention for its community-driven distribution.
Investor Confidence and Future Growth
The $22 million raised from the NFT sale was led by Hack VC, with participation from various firms, showcasing strong investor confidence in SOON’s potential. A significant portion of the funds will be directed towards developing the SOON ecosystem and its infrastructure, which is crucial for future growth and scalability.
As the cryptocurrency market continues to evolve, there is an increasing emphasis on decentralized and community-driven projects. The success of SOON’s NFT sale and its innovative tokenomics may indicate a shift in how blockchain projects approach fundraising and community engagement.
Impact on the Blockchain Landscape
With support from prominent investors and a commitment to equitable distribution, SOON is poised to make a notable impact in the competitive blockchain technology arena. The launch of SOON’s mainnet and its unique tokenomics approach could inspire other projects to adopt similar strategies.
As the market matures, the demand for transparency and community involvement is expected to grow. This trend will likely influence the future of blockchain development and investment, paving the way for a new era of fair-launch cryptocurrencies.
📎 Related coverage from: cointelegraph.com
