SolRazr raises $1.5 million to build decentralized developer ecosystem for Solana

2021-9-13 16:00

Solana-based venture platform SolRazr has unveiled the first decentralized developer ecosystem for the Solana blockchain, comprising Launchpad, Accelerator, and Developer Tools, as per a release shared with CryptoSlate.

The protocol is the first decentralized developer ecosystem for Solana, offering Launchpad, Accelerator, and Developer Tools. “We believe DeFi should mean that everyone gets an opportunity to invest in a project that can help shape their lives. We chose to build and host our platform on Solana, which is the future of DeFi & Web 3.0,” said the team in a statement.

SolRazr wants people to build on Solana

Designed to be the premier fundraising and developer platform for projects building on Solana, SolRazr aims to support the growth of decentralized finance (DeFi) on the high-performance network. 

“Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs,” explained Sreekanth Kalapur, Co-Founder of SolRazr, in a statement. He added:

“The platform is not only fast and inexpensive but also secure and bot-proof, providing fair and truly decentralized allocations for the SolRazr community. SolRazr is not just a launchpad: we are building a platform with a host of developer tools to help anyone build fast on Solana.”

SolRazr will have a unique allocation model for retail investors, leveraging NFTs on Solana—a blockchain capable of 50,000 transactions per second (TPS) thanks to its coordinated optimizations. Transactions are also processed in parallel by GPU hardware natively, with Solana being the only multi-threaded blockchain in the industry.

“Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors,” said SolRazr co-Founder Vijay Kalangi. “However, we’re still very early and not even at 1% of global tech adoption in digital assets and projects. 

“Watching SolRazr develop into the platform we have today has been truly amazing. We’re only just scratching the surface of what the full-service SolRazr ecosystem is capable of, and we’re looking forward to unveiling that shortly.”

SolRazr recently closed a $1.5 million funding round from Moonrock Capital, Ascensive Assets, and Morningstar Ventures. Several notable funds including Genesis Block Ventures, Divergence, Genblock Capital, CMS Holdings, ZBS Capital, PANONY, and Skynet Trading participated in the round, while angel investors such as Sam Kazemian from Frax Finance, Leo Cheng from CREAM, Santiago R Santos, and Chris McCann also contributed. 

The post SolRazr raises $1.5 million to build decentralized developer ecosystem for Solana appeared first on CryptoSlate.

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