London, United Kingdom, June 10, 2024, Chainwire
VM, the world's first EVM-compatible L2 for Solana, has raised over $1 million to lead DeFi on Solana.
The pre-sale offers users the opportunity to invest in $SVM, Solana's native VM token, before the official token is open for public trading.
Solana VM raised over $1 million to launch the world's first EVM-compatible L2 for Solana.
The team has allocated 15% of the total token supply for the pre-sale, making it a temporary opportunity for those interested in the Solana VM project.
It aims to bridge the gap between the Solana blockchain and dApps, allowing applications worth 68 billion TVL to be developed on Solana.
$SVM pre-sale is active:
According to its roadmap, the team plans to implement the following in the third quarter:
- Public release
- Token generation event
- Listed on CEX&DEX
- Deployed key EVM compatible dApps in Solana VM environment.
This multi-round pre-sale offers $SVM at progressively increasing prices set by the team, with the token launching for public trading scheduled for Q3.
What is SolanaVM?
Solana VM, the first EVM-compatible L2 for Solana, is the gateway to a fully compatible Ethereum environment on the Solana blockchain. Solana VM allows users to harness the potential of Solidity and Vyper-based dApps, taking advantage of the benefits of the Solana network.
SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana.
Competitive advantage:
- Use of Solidity and Vyper languages in: Ethereum, Binance Smart Chain, Solana VM
- Low transaction fee
- TPS: Ethereum-100, Solana- 1500, Binance Smart Chain-1600, Solana VM- Up to 5000
Kelly, who is also the founder and CEO of BKCM Digital Asset Fund in an episode of CNBC, said: “You have to think of Solana as probably the next one. , Ethereum and Solana are probably the big three of this cycle.”
Solana VM is specifically focused on bridging the gap between Ethereum, the current leader in DeFi, and Solana, a high-speed blockchain network. It acts as a bridge, allowing developers to seamlessly port their existing Ethereum applications to Solana. This unlocks the potential of the Solana architecture, which features:
- Speed: The Solana virtual machine can handle thousands of transactions per second, compared to Ethereum's current limit, allowing instant transactions for DeFi users.
- Lower rates: Solana's efficient design keeps transaction fees to a minimum, making DeFi applications more affordable for everyone.
SolanaVM additions beyond speed and cost savings:
- 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 are already comfortable with, while enjoying Solana's high-speed network.
- A more inclusive DeFi ecosystem: By removing the barriers of slow speeds and high fees, SVM opens the door to broader adoption and innovation within DeFi.
Users can visit the SolanaVM website and join its Telegram community to learn more.
By harnessing the power of Solana, SolanaVM has the potential to revolutionize the way we interact with applications in a decentralized world. More updates can be followed on their official Twitter:
Users can visit the SolanaVM website: solanavm.xyz for more information
About
SolanaVM is an innovative project founded by a team of dedicated developers passionate about the future of DeFi. Their vision is to bridge the gap between the established Ethereum ecosystem and the power of Solana. By achieving this, SolanaVM aims to create a more efficient, accessible and innovative landscape for DeFi.
ContactMark WalshSolana VM[email protected]
This article was originally published on Chainwire.
