Monday, July 22, 2024

SuperLayer To Launch Tokenized Consumer Products Via RLY Network On Solana

SuperLayer is set to work with startups to launch tokenized consumer products via the RLY Network on Solana. This comes after the RLY Network Association launched the RLY token on Solana. It enables cross-chain liquidity and functionality for the protocol.

Mahesh Vellanki, the co-founder of Rally, said Rally.io will remain on its existing Ethereum sidechain for now, but it could expand to Solana. He said they are drawn towards the Solana network. Currently, the SuperLayer will focus on larger-scale use cases targeted at reaching millions of users through ecosystems will millions of tokens.

Vellanki highlighted play-to-earn products and tokenized social networks which have been developed and designed for mainstream audiences. He acknowledged that creating these experiences is challenging on a blockchain like Ethereum. The main reason is scalability. Vellanki said this is why Rally is inclined towards Solana as it has some really great stuff. He believes the Solana ecosystem is compelling.

Austin Federa, the head of communications for Solana Labs, highlighted that social powered by blockchain is still in its infancy. But it holds the potential to onboard billions of users to Web3. Federa acknowledged that the RLY network is a great launchpad for social blockchain products. And Solana Labs is looking forward to working with the SuperLayer team.

Kevin Chou and Mahesh Vellanki, the Managing Partners at SuperLayer, in a joint statement said the Solana network was brilliantly built to address and overcome some of the biggest challenges that have kept users out of Web3. They noted that most decentralized experiences have been slow and have had prohibitive network fees. On the other hand, the Solana network is fast, inexpensive, and energy-efficient. It has the capacity to host incredibly versatile and complex applications through smart contracts.

Promising innovation lies with Solana.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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