Solana Optimistic Network (SOON) recently concluded a funding round for its Solana-based layer-2 scaling solution. The unique 'co-builder' round exclusively targeted individual investors, excluding venture firms. Notable participants included key figures from Solana Foundation, Solana Labs, Coinbase Ventures, Celestia, and Avail. This funding marks a positive trend for Web3 startups, with Crunchbase reporting a $2 billion increase in crypto venture financing in the second quarter of 2024. SOON aims to create an efficient rollup utilizing the Solana Virtual Machine (SVM) for execution, enabling settlement on any layer-1. The raised funds will primarily support the development of SOON Stack and SOON Mainnet, essential components for enhancing scalability and interoperability across various blockchain ecosystems. SOON's integration with data availability layers like CelestiaDA, EigenDA, and Avail addresses critical challenges in transaction data storage for layer-2 scaling chains, offering promising solutions for the future of blockchain technology. Read more AI-generated news on: https://app.chaingpt.org/news