Injective, a layer 1 blockchain, has announced the launch of the first-ever Solana rollup for Cosmos.
In a press release shared with CryptoPotato, the integration of the “Solana Sealevel Virtual Machine (SVM)” within the Cosmos ecosystem will be done with the help of roll-up provider Eclipse.
The aim of the integration is to promote growth and user adoption within both ecosystems by bringing the Solana development environment to the broader Cosmos community.
The new SVM rollup will allow smooth deployment of Solana smart contracts within Cosmos, enabling Solana apps to interact directly with IBC and, thus, opening new opportunities for developers to leverage popular Solana dApps on the Cosmos network via Eclipse.
Injective expects this integration to attract a new audience to the Solana ecosystem, thereby increasing Web3 adoption across both ecosystems and creating more opportunities for users to experience the best Web3 dApps on one integrated network.
Eric Chen, CEO of Injective Labs, believes that the new SVM rollup for the Cosmos IBC world will create more opportunities for users to experience the best Web3 dApps in one integrated network.
Injective’s $150 Million Ecosystem Initiative
Injective announced a $150 million ecosystem initiative in January, the largest consortium to date within Cosmos. The partnership includes Pantera Capital and Kucoin Ventures, market maker Jump Crypto, and research and development hub Delphi Labs.
The fund aims to support interoperable infrastructure and DeFi projects, provide token and equity investments, and provide operational backing via memberships in terms of development, cryptographic research, marketing, and community growth.
Furthermore, the SVM rollup will be evolved to achieve higher levels of security and scalability in the future, integrating Cosmos’s interchain shared security model to tap greater levels of sustainability within the ecosystem. The migration of the SVM rollup’s availability layer onto the Celestia mainnet is also on the cards to expand scalability properties.