Venture platform SolRazr, which introduced a decentralized developer ecosystem for the Solana blockchain, announced that its Launchpad is going live on October 4, 2021. SOLR, their native crypto token, will be offered to raise capital of $250,000. SolRazr’s IDO is also being launched via their platform, Invezz learned from a press release.

The company will announce the amount of SOLR tokens offered during the sale and the offering price a few days before the IDO. It will be possible to unlock 50% of the IDO tokens immediately. The rest will be distributed at 10% month over 5 months. Developed to act as the actual fundraising platform for software projects on Solana, SolRazr will ensure a high-performance network to accelerate the development of the promising DeFi ecosystem.

Sreekanth Kalapur, Co-founder at SolRazr, said:

“SOLR will act as a utility token and is central to the functionality of our Launchpad. Future allocations to the upcoming IDOs on our platform require SOLR tokens to be staked.”

Maksym Kyryliuk, co-founder at CryptoDiffer, added:

“CryptoDiffer is proud to be the media partner of Solrazr. We plan to cooperate closely with Solrazr team to bring awareness to crypto communities about new rising stars of Solana ecosystem coming straight from Solrazr launchpad!”

Vladyslav Skakun managing partner at ZBS Capital, commented:

“ZBS Capital is proud to support Solrazr, an innovative project offering Launchpad, Accelerator, and Developer Tools on Solana. ZBS Capital shares the vision of Solrazr and we will put our resources to help to find early stage projects aiming to build on Solana and connect them with Solrazr team for future cooperation!”

According to Kalapur, the platform is highly secure, optimized for speed, performant, and inexpensive to use. He added that SolRazr was much more than a launchpad. With the platform with developer tools they’re creating, anyone will be able to deploy applications on Solana. SolRazr leverages non-fungible tokens (NFTs) on Solana, which is a unique allocation model for retail clients.

Thanks to Solana’s optimization, it can handle 50,000 transactions per second. GPU hardware handles them in parallel, with Solana being the “only multi-threaded blockchain” in the crypto space. This is part of the reason why it’s becoming so popular with institutional clients. According to a report by European digital asset manager CoinShares, Solana has become an institutional favorite.

The post Solana’s SolRazr launchpad going live, native token aims to raise $250K appeared first on Invezz.

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