Eclipse Labs Raises $50 Million in Funding Ahead of Mainnet Debut

https://icaro.icaromediagroup.com/system/images/photos/16102539/original/open-uri20240311-18-hzbifo?1710197061
ICARO Media Group
News
11/03/2024 22h41

The funding round, which occurred recently, will enable the company to fill key positions in growth, HR, and research as it prepares to open its novel mainnet to developers.

Led by CEO Neel Somani, Eclipse Labs aims to decentralize its governance over time and involve stakeholders in making significant decisions. While the project has not yet committed to launching its own token, it is exploring ways to enhance decentralization within its ecosystem.

The mainnet launch of Eclipse Labs will initially focus on developers, providing them with the opportunity to build and test applications on the blockchain. Eclipse intends to use a combination of technologies from Solana, Celestia, Ethereum, and RISC Zero for its innovative scaling solution. By combining the speed of Solana with the security provided by Ethereum, apps built for Solana will be able to operate on Eclipse with minimal modifications, with SOL serving as the native token.

The CEO highlighted the benefits of Eclipse Labs for both the Ethereum and Solana ecosystems. From an Ethereum perspective, this scaling solution offers significant potential for the network, while for Solana, it introduces more users to the Solana Virtual Machine (SVM), Solana's execution environment that allows Solana-based DeFi protocols to operate. Prominent Solana protocols, including the lending platform Solend, have already committed to establishing operations on Eclipse once it goes live.

While details regarding a user-friendly bridge for easy transactions into the ecosystem have not been disclosed, eager users have previously shown their willingness to engage with new projects, as seen with Coinbase's Base blockchain attracting millions of dollars in inflows before its public debut in July last year.

Eclipse Labs reiterates its commitment to decentralizing governance and empowering stakeholders in making crucial decisions. Although CEO Neel Somani avoided confirming the possibility of an airdrop token, he acknowledged the growing acceptance of tokens as a means to decentralize governance within crypto projects.

As Eclipse Labs prepares to debut its mainnet and push the boundaries of Ethereum scalability, the project's unique approach combining multiple blockchain technologies continues to generate interest within the crypto community.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

Related