In a bold move that’s shaking up the crypto world, the Ethereum-based layer-2 (L2) solution, SOON (Solana Optimistic Network), has raised a whopping $22 million via a groundbreaking NFT sale to fund its mainnet launch. The goal? To supercharge blockchain infrastructure and bring blazing fast speeds with a community-driven growth model that champions fairness and decentralization.
SOON’s Mainnet Launch: A New Era for Speed and Efficiency
On January 22, 2025, SOON announced the official launch of its highly anticipated mainnet, built on Ethereum but boasting Solana-like speeds. By integrating the Solana Virtual Machine (SVM), SOON promises to deliver speed and efficiency that outperforms even Solana itself, claiming average block times of just 50 milliseconds—compared to Solana’s 400 milliseconds. That’s a huge difference, and for anyone who’s been frustrated by sluggish transaction times, SOON could be the solution we’ve all been waiting for.
To celebrate the milestone, SOON dropped an exclusive NFT collection called COMMing SOON—a clever nod to the project’s future. The sale, led by Hack VC and backed by an impressive list of partners like ABCDE, Anagram, and Hypersphere, was a huge success, raising a massive $22 million. This isn’t just about raising capital—it’s about laying the foundation for SOON’s ecosystem to thrive and grow in a way that’s fair, transparent, and community-driven.
Building a Blockchain for the People
Unlike many blockchain projects that lean on traditional venture capital (VC) funding, SOON’s founders took a radically different approach: they ensured that both VCs and the community had equal opportunities to participate. Joanna Zeng, the co-founder and CEO of SOON, explained that this “fair-launch” approach ensures that token distribution is as balanced as possible. This means no unfair advantages for VCs or early investors—everyone, whether you’re a whale or a regular user, gets a seat at the table.
“While many founders chose a traditional route and raised exclusively from VC, we chose to offer equal deal terms for VCs and our community,” Zeng said. “This ensures a fair launch token distribution, allowing both sides to participate on equal footing.”
This community-first approach to tokenomics is a refreshing shift in the industry, especially in an age where many tokens launch with massive allocations to investors, often leaving the general public with scraps.
Tokenomics: A Strong Focus on the Community
SOON’s tokenomics reflect the project’s commitment to fairness and decentralization. Over 51% of the token supply has been allocated to the community, with additional allocations dedicated to growing the ecosystem (25%), liquidity provision and airdrops (8%), the core team and builders (10%), and the project’s treasury (6%). It’s a token distribution model that prioritizes the people who will actually use the platform over big investors looking for a quick exit.
This transparent approach is a far cry from the way many blockchain projects are handled today, where early investors and centralized exchanges often hold the upper hand. In fact, over 80% of tokens launched on centralized exchanges like Binance have experienced significant losses in value within the first six months after their launch. But SOON’s fair launch model is generating buzz as a potential game-changer in how blockchain projects are distributed and supported.
What’s Next? A Fairer Future for Crypto Launches?
SOON’s success mirrors a growing movement in the crypto space toward fair-launch tokens, where community participation is prioritized and venture capital (VC) firms don’t get all the goodies upfront. This trend was highlighted earlier in 2024 with the decentralized launch of the Hyperliquid (HYPE) token, which became the talk of the town after executing the largest airdrop in crypto history, valued at over $7.5 billion.
Vitali Dervoed, co-founder and CEO of Composability Labs, calls the Hyperliquid launch a pivotal moment in crypto history. “The HYPE token launch marks the beginning of a new era between centralized exchange listings and on-chain distribution,” Dervoed said. “It shows that tokens can be launched fairly and transparently, without relying on centralized platforms or big-name investors to control the price.”
It’s clear that the future of token launches is shifting toward a more community-centric model. Whether or not the HYPE and SOON models will catch on in the mainstream remains to be seen, but they represent a promising step toward fairer, more transparent, and more decentralized crypto ecosystems.
What’s Next for SOON?
With $22 million in the bank and a strong community-focused ethos, SOON is gearing up for its mainnet launch in 2025. The funds raised from the NFT sale will go toward expanding the SOON ecosystem, scaling its infrastructure, and continuing to improve its speed and efficiency with SVM integration. With a growing list of partners and a community-first approach, SOON could be a major player in the Ethereum layer-2 space, paving the way for faster, more scalable, and fairer decentralized applications (dApps).
SOON is one to watch as it sets the stage for a new wave of blockchain innovation, where the community takes the front seat, and fairness is the name of the game. Keep an eye out—this project is just getting started, and the ride is bound to get even more exciting!
