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  • 09 June

    Solana Raises $314 Million Through Private Token Sale

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Wed, Jun 9, 2021 7:32 PM by The Coinshark

Solana Raises $314 Million Through Private Token Sale

Solana Raises $314 Million Through Private Token Sale? Solana Labs, also known as the "Ethereum killer", raised $314 million through a private sale of its tokens. The financing of the project was led by one of the largest investors in the industry Andreessen Horowitz venture fund. He was also joined by Alameda Research, CoinShares, Multicoin Capital, Polychain Capital, and other representatives of the fintech industry. The CEO of Alameda Research, in turn, noted that Solana has the most ambitious technology roadmap he has ever seen. In addition to this, he stressed that the team has already succeeded in several of the previously planned development milestones for their project. The ecosystem is also supported by the founder of the FTX cryptocurrency exchange, Sam Bankman-Fried, who intends to help Solana developers achieve superiority over the Ethereum blockchain. The project plans to overtake Ethereum in terms of transaction processing, reaching a fantastic rate of 50,000 transactions per second. To date, the team has already managed to reduce fees to an average of $0.00001, while Ethereum has this figure of about $6. Earlier it was reported that the startup intends to raise up to 500 million in the capital as part of a financial round launched in March last year. The resulting 314 million team will spend an incubation studio for new employees and an increase in the pace of product development based on its own blockchain. Subscribe to our Telegram, Twitter and Facebook to be the first to know the news of cryptocurrencies! This review is not an advertisement or a recommendation to action, but merely an informational one. The publisher and the author are not responsible for your decisions.

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