Eclipse Labs Secures $50 Million Series A Funding for Ethereum Layer-2 Innovation

  • Eclipse Labs has successfully secured $50 million in a Series A funding round co-led by Placeholder and Hack VC. 
  • This significant funding, bringing their total capital to $65 million, positions Eclipse Labs to further develop its Ethereum Layer-2 solution using the Solana Virtual Machine (SVM).

In a significant stride towards Ethereum Layer-2 development, Eclipse Labs has successfully raised $50 million in a Series A funding round, co-led by Placeholder and Hack VC. This funding round, which attracted participation from major investors such as Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital, along with strategic contributions from Flow Traders, GSR, Apollo Global Management, and OKX Ventures, brings Eclipse Labs’ total capital to an impressive $65 million.

This substantial infusion of capital is earmarked for the advancement of Eclipse Labs’ Ethereum Layer-2 solution, leveraging the Solana Virtual Machine (SVM).

The project seeks to combine the high-performance capabilities of SVM with the liquidity of Ethereum, aiming to present a distinctively differentiated Layer 2 solution. Founder Neel Somani emphasized the integration of SVM with Ethereum’s deep liquidity pools while ensuring the critical aspect of verifiability.

Eclipse Labs has outlined its strategic vision, focusing on creating a highly composable Ethereum Layer 2 chain. Somani expressed the necessity for Ethereum to have a single, scalable, and composable Layer-2 solution, addressing 99% of the use cases.

The team aims to culminate this vision with the launch of its final mainnet release in the second quarter of this year.

Having already introduced devnet and testnet versions of its protocol, Eclipse Labs is poised for further deployment. Collaborations with prominent decentralized applications (dapps) are on the horizon, including partnerships with Rarible, Pyth Network, and Solend.

This funding not only propels Eclipse Labs as a major player in the Layer-2 development landscape but also signifies a significant step forward in realizing their vision for a highly efficient and scalable Ethereum Layer 2 chain.

Eclipse Labs Secures $50 Million for Cutting-Edge Ethereum Layer-2: Unleashing Scalable and Composable Possibilities

Eclipse opens up a realm of possibilities for developers, empowering them to build applications that can seamlessly coordinate masses of people and effortlessly scale according to their needs. Positioned as the fastest Ethereum Layer 2 solution, Eclipse leverages the Solana Virtual Machine (SVM), offering developers dedicated throughput without the inherent downsides.

The journey began with monolithic blockchains, where all blockchain duties were centralized within the same set of nodes. Traditional Layer 2 solutions shifted execution off Layer 1, like Ethereum, but struggled to support a multitude of applications.

Eclipse Labs is revolutionizing the landscape with a parallelized Layer 2 approach, introducing the Eclipse SVM L2 and Celestia for execution and data availability. This innovative structure ensures that applications benefit from localized fee markets, preventing disruptions caused by a single “noisy neighbor” and heralding a new era of scalable and efficient decentralized applications.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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