DeFi
SolanaVM brings 68 billion worth of EVM dApps to Solana, with its EVM-enabled L2 chain
[PRESS RELEASE – London, UK, May 8th, 2024]
In a world where decentralized finance (DeFi) operates at unprecedented speed, transactions are carried out in near real-time and transaction fees are significantly reduced compared to today’s rates. This vision is not just ambitious; it is the future that is built by SolanaVM.
SolanaVM is specifically focused on bridging the gap between Ethereum, the current leader in DeFi, and Solana, a high-throughput blockchain network. The total value locked on EVM is currently over 68,000,000,000, now imagine these being available on Solana.
Ethereum is the go-to platform for building DeFi applications. However, its popularity has created a bottleneck. The network struggles to keep up with demand, leading to slow transaction speeds and gas fees hitting user wallets, making DeFi less accessible to everyday users – this is where SolanaVM comes in.
SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana. This unlocks the immense potential of Solana’s architecture, which features:
- Speed: Solana can handle thousands of transactions per second, compared to Ethereum’s current limit, which allows instant transactions for DeFi users.
- Significantly reduced fees: Solana’s efficient design keeps transaction fees to a minimum, making DeFi applications more affordable for everyone.
SolanaVM is not just about speed and cost savings. It’s a win-win situation for developers and users:
- Effortless migration: Developers can migrate their Ethereum applications to Solana with minimal code changes, thanks to SolanaVM’s compatibility features.
- Familiar interface: Users can continue to use the tools and interfaces they are already comfortable with while enjoying the benefits of Solana’s high-speed network.
- A more inclusive DeFi ecosystem: By removing the barriers of slow speeds and high fees, SolanaVM opens the door to broader adoption and innovation within DeFi.
Users can visit SolanaVM website and join them Telegram Community to learn more and be part of this revolutionary movement.
SolanaVM is more than just a bridge: it is a step forward in DeFi technology. By leveraging the power of Solana, it has the potential to transform app interactions in a decentralized environment. Updates on its progress are available on the official Twitter page.
Those interested in joining the DeFi revolution can visit the SolanaVM website at solanavm.xyz and be part of the future
About SolanaVM
SolanaVM is a revolutionary project founded by a team of dedicated developers who are passionate about the future of DeFi. Their vision is to bridge the gap between the established ecosystem of Ethereum and the power of Solana. By achieving this, SolanaVM aims to create a more efficient, accessible and innovative landscape for DeFi.
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