Research Report: The Rookie Modular L2 Public Chain Eclipse Worthy of Attention

Eclipse is a Rollup solution. Developers can customize various components according to their preferences, such as execution environments such as EVM, SVM and MoveVM, and data availability layers such as Celestia and Polygon AvailEigenDA.

The share of transactions on Rollups and other execution layers will continue to grow in the coming years, especially as Ethereum and other base layers are optimized to provide secure data availability for these execution layers.

**Overall, over $2B in VC funding has been invested in Rollups and the execution layer, with the majority going to early builders such as Arbitrum, Optimism, Starkware, and zkSync. **

Eclipse, on the other hand, raised $15 million in funding last year, including a $6 million pre-seed round led by Polychain Capital and a $9 million seed round led by Tribe Capital and Tabyia.

Eclipse's optimistic rollup enables projects to create their own unique appchains while benefiting from the security of established networks (eg Cosmos appchains, Polygon, Ethereum) and leveraging the Solana Virtual Machine (SVM). The SVM serves as the execution environment, settlement is handled by Eclipse, and consensus and data availability (DA) are managed by a layer-1 network chosen by the developer. Currently, Eclipse offers an Optimistic rollup solution, but is also working on zk-rollups.

Eclipse has released two rollup solutions built on top of SVM:

Polygon SVM: With this rollup, any project built on Solana can be easily deployed on the Polygon network;

Cascade: Launched by Injective and Eclipse, Cascade is an SVM rollup optimized for the IBC ecosystem.

It will allow Solana projects to easily deploy to Cascade and access Cosmos Lisk assets and liquidity. Additionally, projects on Injective can now take advantage of Cascade's parallelized SVM.

All of these solutions are simplifying and expanding the use of Solana VM. Users from other chains will also be able to frictionlessly "taste" the Solana parallelization experience, which may lead to greater awareness of the benefits of SVM, allowing more projects to migrate their dApps to Solana to benefit from its architecture and attract more users.

Ecological Quick Facts

These projects expand across multiple verticals including DeFi, Gaming & Social, DePIN, and more: Injective, Polygon, NEAR, Solana, Celestia, Eigenlayer, and more

Team Information:

Neel Somani is the creator of Eclipse. Previously, he worked at Airbnb, Two Sigma, Oasis Labs. Neel Somani is a graduate of UC Berkeley.

Vijay Chetty is Eclipse's chief business officer. He is the former Head of Business Development for the decentralized exchange Uniswap and dYdX teams. Vijay Chetty is a graduate of Princeton University.

Financing Information:

In August 2022, Eclipse completed a $6 million Pre seed round of financing, led by Polychain, with participation from Tribe Capital, Galileo, Polygon Ventures, and Accel

In September 2022, Eclipse completed a US$9 million seed round of financing led by Tribe Capital, Caballeros Capital, Soma Capital, Infinity Ventures Crypto, CoinList, etc.

According to our information, the previous two rounds of valuation reached 180 million US dollars. And the team expects to start the A-round financing in October. We are currently communicating with the project party, and the A-round valuation will reach 500 million US dollars. And if we participate in advance, there will be a discount on the valuation. If you are interested in this project, you can contact us.

Summarize

Eclipse can bring value and help dApp developers deliver new experiences in three main areas:

1. Bring better games. Completely on-chain games, a truly boundary-breaking experience, and a brand-new game mechanism. In addition to NFTs, user behavior, and player actions, all of these should be published on-chain and therefore verifiable.

2. Institutional chains with built-in supervision or privacy functions. A lot of experimentation with privacy features is happening on L1 blockchains, a lot of which can be done at the rollup layer.

3. Physical infrastructure to solve real-world problems.

If Eclipse's thesis is correct, there will be thousands of aggregations over the next few years. A lot of infrastructure needs to be developed along with it, such as gas hedging, better interoperability protocols, indexers and block explorers, etc. The implications for cryptocurrencies as a whole are huge.

Eclipse URL: https://linktr.ee/eclipsefnd