As part of the launch for its mainnet, layer-2 Ethereum solution SOON successfully completed an NFT sale of $22 million.
The program stands out with regards to pioneering advanced technology, equal distribution of tokens, and participation of the community. SOON’s blockchain is among the highest-performing thanks to its usage of the Solana Virtual Machine (SVM) that would address concerns on expensive fees and slow transactions.
SOON Raises $22M and Is Set to Shake Up the Blockchain Industry. Here’s What You Need to Know.
— TokenMate (@ginger_monkeyd) February 4, 2025
The blockchain space has a new major player — SOON, which raised $22M through an NFT sale ahead of its mainnet launch. But what makes this project stand out?
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Faster Blockchain Technology
The speed and efficiency of SOON are designed to surpass other blockchains. At 50 milliseconds, its average block time is significantly faster than Solana’s 400 milliseconds. This is done using the Solana Virtual Machine (SVM) and isolating its transaction processing unit (TPU). This means faster, cheaper, and more seamless transactions for developers and users.
Community Tokenomics
The token distribution process in SOON is fair, hence prioritizing the community. Ecosystem development accounts for 25% of the remaining tokens, followed by airdrops and liquidity (8%), team and core builders (10%), and treasury (6%).Since everyone may grow with the project thanks to its open and equitable construction, which it is a part of a broader movement toward community-first cryptocurrencies.
A Fair Approach to Token Launching
Hack VC and firms such as ABCDE and IDG Capital back SOON, and its $22 million NFT sale is a step toward more decentralized and fair token launches.
This is unlike previous models, which were controlled by centralized exchanges and venture capitalists, ensuring that the community has an equal opportunity- something comparative in how decentralized token distribution had shown benefits from Hyperliquid, otherwise abbreviated as HYPE. By keeping the strategy, SOON is encouraging trust and becoming an example of fairness in the world of blockchain.
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