Eclipse has launched a groundbreaking Ethereum-Solana hybrid blockchain, marking the first Ethereum Layer-2 (L2) network powered by Solana’s technology. By integrating the capabilities of both ecosystems, Eclipse aims to improve transaction speed and reduce costs on Ethereum through Solana Virtual Machine (SVM). This development highlights the network’s potential to streamline operations by aggregating multiple transactions and settling them on Ethereum’s mainnet, a process common to other L2 networks but now amplified by the efficiency of Solana.
Ahead of its official launch, Eclipse secured over $65 million in funding, attracting notable interest from major investors. This substantial support underscores confidence in the platform’s ability to deliver innovative solutions in the blockchain space.
The public mainnet is up and running with over 60 applications and service providers on day one.
Explore and participate in our ecosystem on pic.twitter.com/r6frGsRwIH
– Eclipse (🐮,🌑) (@EclipseFND) November 7, 2024
Early adoption and ecosystem growth
Eclipse has already gained traction with several high-profile projects committing to its network. These include Orca, an automated market maker, and Save, a lending protocol, both designed to leverage Eclipse’s capabilities. In total, the platform launched with 60 decentralized applications (DApps) covering various sectors, including decentralized finance (DeFi), gaming and consumer applications.
The company emphasizes that its goal is to enable developers in the Ethereum and Solana ecosystems to build and scale their applications more efficiently. By enabling interactions between Ethereum-based and native Solana applications, Eclipse provides a seamless experience that connects two of the most important networks in the blockchain industry.
Start by connecting ETH to Eclipse on
You can come back at any time with withdrawals now enabled. pic.twitter.com/VTDktXDBUx
– Eclipse (🐮,🌑) (@EclipseFND) November 7, 2024
Strong financial support and initial challenges
The project’s financial foundation was strengthened earlier this year with a $50 million Series A funding round led by Placeholder and Hack VC. This round was part of a larger $65 million fundraising effort that also included notable figures including Solana co-founder Anatoly Yakovenko, Helius CEO Mert Mumtaz, and blockchain analyst ZachXBT.
Despite its promising start, Eclipse faced a significant internal challenge earlier in the year when its former CEO, Neel Somani, resigned in May following sexual assault allegations. Although no formal charges were filed, the incident attracted attention and led to a change in leadership.
A new chapter for Blockchain innovation
Eclipse’s innovative approach of combining Ethereum’s vast ecosystem with Solana’s technological strengths is expected to generate new opportunities for developers and users. The hybrid model not only improves the performance of Ethereum-based applications but also expands the reach of decentralized solutions across industries.
As the platform advances, it aims to solidify its position as a leader in blockchain innovation, leveraging its strong financial backing and rapid adoption by major projects. With a focus on uniting two powerful blockchain ecosystems, Eclipse is poised to redefine how developers build and scale applications in the decentralized space.
