Solana Optimistic Network (SOON) Company Profile

Background

Overview

The Solana Optimistic Network (SOON) is a Layer 2 blockchain solution designed to enhance scalability and reduce transaction costs within the Solana ecosystem. By integrating the Solana Virtual Machine (SVM), SOON aims to provide a high-performance environment for decentralized applications (dApps) and decentralized finance (DeFi) platforms.

Mission and Vision

SOON's mission is to democratize access to institutional-grade blockchain infrastructure, enabling developers and users to benefit from enhanced scalability, reduced fees, and improved interoperability. The vision is to create a seamless and efficient blockchain environment that supports the next generation of decentralized applications.

Primary Area of Focus

SOON focuses on addressing the scalability challenges faced by the Solana network by implementing an Optimistic Rollup Layer 2 solution. This approach aims to increase transaction throughput and decrease latency, thereby improving the overall user experience for dApps and DeFi platforms.

Industry Significance

In the rapidly evolving blockchain industry, scalability remains a critical concern. SOON's innovative approach positions it as a significant contributor to enhancing blockchain performance, potentially influencing the development and adoption of future blockchain solutions.

Key Strategic Focus

Core Objectives

Scalability Enhancement: Implementing solutions to increase transaction throughput and reduce latency.

Cost Reduction: Lowering transaction fees to make blockchain applications more accessible.

Interoperability: Ensuring seamless integration with existing blockchain ecosystems.

Specific Areas of Specialization

Layer 2 Solutions: Developing and deploying Optimistic Rollup technologies.

Blockchain Infrastructure: Building scalable and efficient blockchain frameworks.

Decentralized Finance (DeFi): Enhancing DeFi platforms with improved scalability and reduced costs.

Key Technologies Utilized

Solana Virtual Machine (SVM): Leveraging SVM for high-performance execution environments.

Optimistic Rollups: Implementing rollup technologies to scale transaction processing.

Modular Blockchain Architecture: Adopting a modular approach for flexible and scalable blockchain solutions.

Primary Markets or Conditions Targeted

Decentralized Applications (dApps): Providing scalable solutions for dApp developers.

DeFi Platforms: Offering infrastructure to support high-volume DeFi transactions.

Blockchain Developers: Enabling developers to build and deploy applications with enhanced scalability.

Financials and Funding

Funding History

Co-Builder Round (August 2024): Raised an undisclosed amount from individual angel investors, including Solana Foundation President Lily Liu and Solana Labs co-founder Anatoly Yakovenko. This round focused on developing the SOON Stack and Mainnet.

NFT Mint Round 1 (January 2025): Raised $22 million through an NFT sale ahead of the mainnet launch, with participation from Hack VC, Anagram, ABCDE Labs, Hypersphere, and Ark Stream.

Strategic Investment (June 2025): Secured a $5 million investment from Jump Crypto, Amber Group, and angel investors, including Nana Murugesan (zkSync), Mark Hull (Kamino Finance), Chris Hermida (Switchboard), and Tori Cohen (Wormhole). The funds are intended to accelerate the development of high-performance chains, trading tools, and expansion into the real-world asset space.

Total Funds Raised

Approximately $27 million through various funding rounds, including the co-builder round, NFT sale, and strategic investment.

Notable Investors

Jump Crypto: A leading firm in traditional and digital finance.

Amber Group: A global crypto finance service provider.

Nana Murugesan: President of zkSync.

Mark Hull: Co-founder of Kamino Finance.

Chris Hermida: Founder of Switchboard.

Tori Cohen: Co-founder of Wormhole.

Intended Utilization of Capital

High-Performance Chains: Accelerating the development of scalable blockchain solutions.

Trading Tools: Enhancing platforms for professional trading experiences.

Real-World Assets (RWA): Expanding into tokenized real-world assets, such as on-chain U.S. equities.

Copy-Trading Product: Integrating artificial intelligence to scale copy-trading functionalities.

Pipeline Development

Key Pipeline Candidates

SOON Mainnet: Launched its Alpha Mainnet on January 3, 2025, marking a significant milestone in its development.

SOON Stack: A framework enabling developers to deploy customizable, SVM-compatible chains with built-in interoperability and scalability.

Stages of Development

Mainnet Launch: Completed the Alpha Mainnet launch in January 2025.

Ecosystem Expansion: Ongoing development of the SOON Stack and integration with various blockchain platforms.

Target Conditions

Scalability: Addressing transaction throughput limitations.

Cost Efficiency: Reducing transaction fees for end-users.

Interoperability: Ensuring seamless integration with existing blockchain ecosystems.

Anticipated Milestones

Mainnet Upgrades: Scheduled enhancements to improve performance and scalability.

Ecosystem Partnerships: Collaborations with other blockchain projects to expand the SOON ecosystem.

Technological Platform and Innovation

Proprietary Technologies

SOON Stack: A modular framework that allows developers to create and deploy SVM-compatible chains with built-in interoperability and scalability.

Significant Scientific Methods

Optimistic Rollups: Utilizing rollup technologies to scale transaction processing.

Modular Blockchain Architecture: Adopting a modular approach for flexible and scalable blockchain solutions.

AI-Driven Capabilities

Copy-Trading Integration: Incorporating artificial intelligence models to enhance copy-trading functionalities, making AI trading strategies accessible to a broader audience.

Leadership Team

Joanna Zeng: Co-founder and CEO. Formerly led business development at Coinbase and Optimism, now spearheads SOON’s ecosystem strategy.

Andrew Zhou: Co-founder and CTO. A specialist in Rust and Golang, he is the architect behind SOON’s fast-finality protocol.

Lily Liu: President of the Solana Foundation, involved in the co-builder round.

Anatoly Yakovenko: Co-founder of Solana Labs, participated in the co-builder round.

Jonathan King: Principal at Coinbase Ventures, involved in the co-builder round.

Mustafa Al-Bassam: Co-founder of Celestia, participated in the co-builder round.

Prabal Banerjee: Co-founder of Avail, involved in the co-builder round.

Robinson Burkey: Co-founder of Wormhole, participated in the co-builder round.

Competitor Profile

Market Insights and Dynamics

The blockchain industry is characterized by rapid innovation, with scalability and interoperability being key challenges. Layer 2 solutions like SOON are gaining traction as they offer enhanced performance and reduced costs.

Competitor Analysis

Sui Network: Built on the Move programming language, Sui offers high transaction throughput and low latency, positioning itself as a strong competitor in the scalability space.