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Sophon’s November mainnet launch to introduce a gasless experience, supported by major investments, aims to revolutionize blockchain in entertainment and gaming.
Key Notes
Sophon will launch its mainnet in November with restricted access to the SOPH token for stability.Users will enjoy gasless transactions during the initial phase to encourage network interaction.Sophon Guardian enables users to run nodes, enhancing the platform's scalability and security.Entertainment-focused blockchain system Sophon is set for its mainnet launch in November. The SOPH token will be released simultaneously with this launch. However, there will be restrictions on public access to the token in the early stages to ensure stability and security.
During this phase, users will enjoy a gasless experience, meaning transactions will not require gas fees. This makes it easier for users to interact with the network without the financial burden of fees during the initial phase.
It has been revealed that Sophon Guardian is crucial for the network’s infrastructure. Guardians have the ability to run Sophon nodes, which were initially tied to the nodes purchased during the node sale. The team will gradually announce the partners involved in the mainnet launch by next week.
The blockchain company has appealed to top firms that have partnered with and invested in it. Recently, Binance Labs invested in Sophon to boost the development of innovative projects and accelerate ecosystem growth.
Andy Chang, Investment Director at Binance Labs, praised Sophon, stating that its strong industry partnerships and early success prove the company has what it takes to revolutionize the entertainment, gaming, and AI spaces.
Innovative Funding Strategies: $60 Million in Node Sales Propel Development
In May of this year, Sophon generated over $60 million through a novel node sale. Approximately 121,000 network nodes were sold in this sale, earning about 20,391 ETH (around $62.7 million) out of a total of 200,000 nodes available for purchase.
The blockchain firm previously raised $10 million in a conventional funding round led by Paper Ventures, with other participants including Spartan, SevenX, and OKX Ventures.
Sebastien, co-founder of Sophon, stated on his X page that the funds raised will be used to create new projects and make more strategic partnerships. He said:
“We will use this money to build cool shit, innovate, fund projects and make strategic partnerships – always with the goal of delivering value to our core community.”
Despite the founders’ unpopularity, the project has still managed to secure substantial funding, demonstrating the confidence top companies have in the initiative. Sophon is co-founded by Sebastien, formerly the head of DeFi at zkSync, and Pentoshi, a well-known figure in the Crypto Twitter community.
Pioneering ZK Stack Applications: Leading the Charge in Layer 2 Solutions
Sophon is poised to achieve its goals through ZK Stack applications, including native account abstractions, which enable users to interact with the blockchain without incurring transaction fees. The zkSync codebase is regarded as the most robust zkEVM, featuring diverse functionalities and proven scalability through extensive testing, positioning it as a leader among Ethereum’s layer 2 solutions.
This capability is essential for creating a scalable and stable environment for consumer applications. Sophon, incubated by Merit Circle and supported by strategic partnerships with organizations like Beam, Zentry, and Aethir, aims to establish itself as a premier platform for developers and users.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
