• SolRazr has generated $1.5 million in a recently-closed funding round to build the first decentralized developers ecosystem for Solana.
• The ecosystem will be a fundraising and developers platform for projects building on the Solana blockchain.

Venture platform SolRazr has revealed the first decentralized ecosystem for the Solana blockchain. The ecosystem will consist of Accelerator, Developer Tools, and Launchpad. To build the developer ecosystem for the Solana blockchain, SolRazr has secured $1.5 million in a funding round.

Solana is recognized as a Proof-of-Stake (PoS) blockchain with a pBFT-derived consensus mechanism. Also, the PoS blockchain boasts of its 200 notes operating globally. 

SolRazr generates $1.5 million in funding to build a developer ecosystem for Solana blockchain

The fund came from several institutional and retail investors that participated in the financing round. The participants include Moonrock Capital, Morningstar Ventures, and Ascensive Assets. Additionally, funds giants such as CMS Holdings also contributed to the funding. Others are Genblock Capital, Genesis Block Ventures, Divergence, Skynet Trading, and PANONY. In addition, angel investors like Leo Cheng from CREAM, Frax Finance’s Sam Kazemian, Santiago R Santos, and Christ McCann were also participants. 

According to some of the contributors, SolRazr consists of a leading team of experts and blockchain veterans. Also, the funding participants expressed their satisfaction with being a part of the SolRazr journey.

The decentralized developer ecosystem by SolRazr is designed to be the actual fundraising and developers platform for projects that are building on the Solana blockchain. With the new developer ecosystem, SolRazr aims to aid the development of DeFi. 

Co-founder of SolRazr, Sreekanth Kalapur, commented on the newly-unveiled decentralized developer ecosystem for the Solana blockchain. Kalapur stated:

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.

In addition to its fast, inexpensive, and secured features, SolRazr has a broader vision for members of its community. The venture platform plans to have a unique allocation model for all retail investors, leveraging non-fungible tokens (NFTs) on Solana. The blockchain has coordinated optimizations that enable it to perform 50,000 transactions per second (TPS).

SolRazr executive on crypto and blockchain mainstream adoption

SolRazr co-founder, Vijay Kalangi, spoke on the increasing mainstream adoption of crypto assets and blockchains. Kalangi noted that institutional investors are continually showing interest in the crypto space. However, he mentioned that global tech adoption of digital assets and projects is still at the “very early stage.” Speaking further, the co-founder continued:

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.

In other Solana-related news, the cryptocurrency has performed more than Dogecoin to become the 7th largest crypto by market cap. Also, SOL jumped 300 percent over the past month and has been increasing since then. At press time, the crypto asset is up more than 30 percent to $187. 

Read More: Solana (SOL) surges another 30% hitting new ATH, here’s why it’s rallying so much