$ 314 Million in Accumulated Token Sales, Solana Continues to Expand Power - Kakiforex.com - Financial Market Media No. 1 in the World $ 314 Million in Accumulated Token Sales, Solana Continues to Expand Power $ 314 Million in Accumulated Token Sales, Solana Continues to Expand Power
InstaForex

June 10, 2021

$ 314 Million in Accumulated Token Sales, Solana Continues to Expand Power

 Solana Labs has successfully raised $ 314.15 million in private token sales for the purpose of supporting the development and launch of decentralized applications, including the construction of platforms on the Solana network.


The recently held private token sale was led by Andreessen Horowitz (a16z) and Polychain Capital, along with other participants such as Alameda Research, CMS Holdings, CoinShares, Jump Trading, Multicoin Capital, Sino Global Capital, and more.


The funds will also be used to launch incubation studios to further accelerate the development of projects in the network, thus expanding new investment lines for the Solana ecosystem.


The effort is in line with their vision of wanting to attract 1 billion users, according to Solana Labs CEO Anatoly Yakovenko.



Solana received the attention of the crypto community with the dumping of decentralized finance projects launched since last March. One of them, the latest NFT platform known as Metaplex.


The Solana ecosystem also provides a project acceleration program, Solverse in support of project development on the platform. It is estimated around 21 related experts have served for startups in Solana especially in marketing strategy.


Some consider Solana to be a close competitor of Ethereum other than Polkadot.


Anyway, this network comes with great features such as much cheaper transaction costs, $ 0.00001 with a speed of 50,000 transactions per second, compared to Ethereum.