With a total of US$65 million in financing, can the new Rollup Eclipse open up the asset cycle of Solana and Ethereum?

On March 11, 2024, Eclipse Labs announced the completion of a $50 million Series A financing, jointly led by Placeholder and Hack VC. In 2022, Eclipse has completed US$15 million in Pre-seed and seed round financing at a valuation of over US$100 million. At present, the cumulative financing amount of this project has reached 65 million US dollars.

It is said that Eclipse’s goal is to build a Rollup platform with core advantages and aims to enhance the compatibility, security and scalability of blockchain technology. The Eclipse project will be introduced in detail below.

The core theme of Eclipse: Build stronger Layer 2 solutions through the performance of Solana Virtual Machine (SVM)

The Eclipse Mainnet project recently announced by Eclipse Labs marks the entry of blockchain technology into a new era A new stage of innovation. This platform adopts a multi-dimensional converged technology architecture that cleverly combines the solid security of Ethereum, the excellent performance of Solana, and the advanced data availability (DA) of technologies such as Celestia. Its core purpose is to build the fastest and most adaptable Layer 2 solution on the market through the powerful execution capabilities of the Solana Virtual Machine (SVM). This is not only a collection of technologies, but also reflects Eclipse's high emphasis on openness and customizability.

As a Rollup solution, the emergence of Eclipse provides a new perspective on blockchain interoperability and customization. The platform supports compatibility with multiple Layer 1 blockchains, providing developers with unprecedented freedom. They now have the freedom to select and customize components ranging from execution environments (such as EVM, SVM, MoveVM, etc.) to data availability layers (such as Celestia, Polygon Avail, EigenDA, etc.) based on their personal or project needs. This open and flexible design concept not only enables Eclipse to adapt to a variety of different data availability needs, but also allows these different layers to share Eclipse's settlement layer, further strengthening the integration and efficiency of the technology.

Eclipse’s settlement layer plays a unique role in its architecture, relying on Celestia for sovereign rollup and focusing on bridging and transitive proofs without directly executing any smart contracts. This innovative “settlement aggregation” model delegates all execution operations to an independent execution chain, ensuring efficient processing of transactions and laying the foundation for the platform’s scalability and flexibility.

Through such a design, Eclipse Mainnet is not only a product of technological innovation, but also an expansion of the application prospects of blockchain technology. It shows how through the integration and customization of technology, existing challenges can be solved, transaction efficiency can be improved, costs can be reduced, and ultimately wider decentralized application (DApp) deployment can be achieved. With the further development and improvement of Eclipse, it may become a key force in promoting blockchain technology innovation and application popularization.

The launch of Eclipse Mainnet not only reflects the strength and innovative spirit of the Eclipse Labs technical team, but also proves to the entire blockchain community that the performance and adaptability of the system can be effectively improved through technology integration and customized design. In the future, as more developers and projects choose Eclipse as their technology platform, we have reason to believe that Eclipse will play an increasingly important role in the application and development of blockchain technology and set off a new technological revolution. wave.

Over-binding Terra in the early stage led to constant turmoil in the later stage. How can Eclipse slowly get out of the shadow of the industry?

In October 2022, a major news about the blockchain community attracted widespread attention: Neel Somani, a former Terra ecosystem developer, successfully raised $15 million in funding for his new project Eclipse. This marks an important turning point, not only a new chapter in Somani’s personal career, but also an important contribution to the entire Solana ecosystem. Eclipse, as a cross-chain modular Rollup start-up based on Solana, demonstrates the spirit of learning from failures and moving forward courageously.

Somani was not frustrated after the failure of her previous project Terranova in the Terra ecosystem. Instead, he learned valuable lessons, particularly about the importance of avoiding single points of failure, and based on those experiences, built a protocol that could flexibly swap its Layer 1 components. This innovative thinking attracted widespread attention from the market and successfully attracted the support of investors including Solana co-founder Anatoly Yakovenko.

In a Pre-Seed funding round over the summer, Eclipse raised $6 million from investors including Yakovenko and Polygon. This successful funding round quickly led to a $9 million seed round led by Tribe Capital and Tabiya. Somani views this financing achievement as the culmination of his past experience, especially his deep understanding of how to build more robust and reliable blockchain solutions.

Somani’s background is equally impressive. A former Citadel quant, his crypto engineering career began as a part-time job. While developing TerraNova, he conceived the idea of ​​leveraging the Solana virtual machine and exploring the possibility of "making it its own chain in some way, shape, or form." When the Terra project collapsed, Somani didn't stop and moved forward, leveraging his previously established connections and his location in Chicago, close to Solana's headquarters, to create Eclipse.

While achieving significant success in investor support, Somani and his team members, including Chief Growth Officer Vijay Chetty, Director of Engineering David Lin, and Chief of Staff Kayla Bu, are working on the further development of Eclipse. According to Somani, Eclipse plans to open source its first protocol version early next year, which indicates that its technology and innovation may have a profound impact on the entire blockchain ecosystem.

Meanwhile, a number of other notable figures in the Terra ecosystem are facing legal challenges, including the former head of TerraForm Labs who was recently arrested in South Korea (although the arrest warrant was later dismissed). Against this backdrop, the story of Somani and Eclipse provides an inspiring example of how, through innovation and perseverance, new paths can be forged, even in the face of adversity.

The mainnet will be launched in Q2. Can Eclipse open up the hundreds of billions value cycle of Solana and Ethereum?

With the announcement of OKX Ventures’ strategic investment in Eclipse, Eclipse—the first Ethereum Layer 2 solution running in the Solana Virtual Machine (SVM) environment—is facing new opportunities for change and growth. . This investment not only marks the recognition of Eclipse's technological maturity, but also indicates that its basic technical guarantee will be further strengthened in providing fast, safe, and flexible Web3 application interaction requirements.

Eclipse's modular components allow developers to customize development in diverse execution environments such as EVM, SVM and MoveVM, and combine it with data availability (DA) layers such as Celestia, Polygon Avail, and EigenDA for efficient data settlement. This flexibility not only creates a friendly development environment for the developer community, but also ensures that end users can enjoy the most secure and economical interactive experience, thanks to the efficient and secure ZK fraud proof technology RISC Zero adopted by Eclipse.

#The news that Eclipse will be launched on the mainnet in the second quarter of this year has further deepened expectations for its technical strength and market potential. With the successful launch of the testnet, Eclipse has issued commemorative NFT rewards to the first batch of developers who deployed contracts on the platform. This not only stimulates the community's enthusiasm for participation, but also demonstrates Eclipse's commitment to promoting high-quality DApp development.

However, the challenges facing Eclipse cannot be ignored. With the release of its mainnet architecture, Eclipse will need to find a balance between technology upgrades, ecosystem expansion, and market fluctuations. Especially in the growing competition in the encryption market, how to continue to provide innovative solutions while ensuring the stability and security of the platform will be an important issue that Eclipse needs to face.

Token unlocking events and upcoming market dynamics will also bring new liquidity challenges to Eclipse. How to absorb newly unlocked tokens without affecting price stability will be a test of the resilience of the Eclipse market.

In general, Eclipse stands at the new frontier of Web3 development, with both potential and challenges. As technology continues to advance and the ecosystem expands, Eclipse's role in the cryptocurrency field becomes increasingly prominent. This is a critical time for investors and users to closely monitor and evaluate Eclipse's long-term potential.

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