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Solana-Based SolRazr Raises $1.5M in Funding Rounds

Solana-Based SolRazr Raises
  • SolRazr has announced the launch of three decentralized developer ecosystems.
  • The Solana-based platform closed a $1.5 million funding round recently.
  • It will have a unique allocation model for retail investors, leveraging NFTs on Solana.

SolRazr, a platform based in Solana, has announced the launch of three decentralized developer ecosystems, including Launchpad, Accelerator, and Developer Tools.

Recently, it 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, PANONY, and Skynet Trading participated in the round. Meanwhile, angel investors were also present such as Sam Kazemian from Frax Finance, Leo Cheng from CREAM, Santiago R Santos, and Chris McCann.

SolRazr is designed to support the growth of decentralized finance (defi) on the high-performance network. It aims to be a de-facto fundraising and developer platform for Solana-based projects.

Sreekanth Kalapur, Co-Founder of SolRazr elaborated the project further. He said,

Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs. 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.

Note that Solana is a high-performance Proof of Stake (PoS) blockchain with a focus on scalability without sacrificing decentralization or security. Until now, blockchains have been single-threaded computers, guaranteeing no two transactions conflict if executed in parallel.

According to SolRazr, it will have a unique allocation model for retail investors, leveraging NFTs on Solana.  Thanks to its coordinated optimizations, Solana can handle 50,000 transactions per second (TPS). In addition, transactions are processed in parallel on GPU hardware natively, making Solana the only multi-threaded blockchain in the industry.

Indeed, blockchains are gaining mainstream adoption with growing interest from institutional investors. However, the Co-founder of SolRazr, Vijay Kalangi shared that they are ‘still very early and not even at 1% of global tech adoption in digital assets and projects.’

Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.