Eclipse Launches Mainnet as First Ethereum L2 Powered by Solana

Eclipse, the first Layer 2 network built on Ethereum using the Solana Virtual Machine (SVM), has officially launched its mainnet on November 7, 2024. The highly anticipated launch follows a successful fundraising campaign, securing over $65 million in total investment, making it one of the most talked-about blockchain projects of the year.

A Hybrid Blockchain Solution for Faster, Cheaper Ethereum Transactions

Eclipse aims to enhance Ethereum’s scalability by leveraging Solana’s speed and cost efficiency. The network enables users to transact on Ethereum faster and at lower costs, using Solana’s virtual machine to execute transactions off-chain. As with other Ethereum Layer 2 solutions, Eclipse batches transactions off-chain and then settles them on the Ethereum mainnet, improving speed and reducing costs without sacrificing security.

In its initial release, Eclipse has already integrated several key decentralized finance (DeFi) protocols, including the automated market maker Orca and the lending platform Save. Additionally, the network has launched with over 60 decentralized applications (DApps) and service providers across various sectors, including DeFi, gaming, and consumer applications.

A Unified Ecosystem for Ethereum and Solana Communities

Eclipse’s hybrid architecture brings together two of the most influential blockchains in the crypto space: Ethereum and Solana. Ethereum is known for its decentralization and security, with over $500 billion in on-chain assets, while Solana stands out for its lightning-fast transactions and low fees. Eclipse aims to merge the strengths of both networks, enabling DApps on Ethereum L2 to communicate directly with native Solana applications. This unique integration is designed to unlock new opportunities for developers and users alike across both ecosystems.

"Our goal is to empower developers from both ecosystems to build and scale their DApps like never before, unlocking new opportunities across the largest networks in the industry,” said Vijay Chetty, CEO of Eclipse. “Eclipse is uniquely positioned as the first solution to bridge the gap between Solana and Ethereum, offering a powerful platform that caters to both communities.”

Eclipse's Funding and Industry Backing

Eclipse’s development has been backed by significant investment, including a $50 million Series A funding round closed in March 2024. The round was led by Placeholder and Hack VC, and brought the total funding raised by the project to $65 million. Eclipse also secured angel and strategic investments from high-profile industry figures, including Anatoly Yakovenko, co-founder of Solana, Mert Mumtaz, CEO of Helius, and blockchain analyst ZachXBT.

Despite the excitement around the launch, Eclipse faced controversy earlier this year when its former CEO, Neel Somani, stepped down in May following accusations of sexual assault. While no charges were filed, Somani’s departure led to the appointment of Vijay Chetty, the company’s former Chief Growth Officer, as the new CEO.

Looking Ahead: A New Era for DApps

With the launch of Eclipse, the project aims to provide a seamless experience for developers building across both Ethereum and Solana ecosystems. The Eclipse team envisions a future where DApps can leverage the best features of both blockchains—Ethereum’s security and Solana’s scalability—to create a more powerful and interconnected decentralized web.

As Eclipse enters its mainnet phase, it marks the beginning of what could be a game-changing development in the blockchain space, offering a bridge between two of the most influential networks and setting the stage for a new generation of hybrid blockchain applications.

About Eclipse

Eclipse is the first Layer 2 blockchain solution to combine the Ethereum and Solana ecosystems into a unified network. By harnessing the power of Solana’s Virtual Machine and Ethereum’s decentralization, Eclipse aims to empower developers and users to create and scale decentralized applications (DApps) with unparalleled speed, efficiency, and cross-chain interoperability.