The news is out: Orca will be launching on Eclipse, introducing Orca’s great trading experience to Ethereum users and giving Solana users the experience they know and love.
Eclipse is an SVM L2 for Ethereum that blends the best of both blockchains.
As we put the final touches on our first multichain experience, we wanted to share more about the SVM L2 and why we decided to build on Eclipse.
What is the Solana Virtual Machine (SVM)?
First, a virtual machine is what executes smart contracts for the blockchain. The Solana Virtual Machine (Sealevel) is what allows Solana to execute transactions in parallel. The SVM is a highly parallelized runtime that uses multiple cores to run multiple programs at the exact same time, substantially increasing throughput.
In comparison, EVM blockchains like Ethereum or Optimism are single-threaded, so at any given point there is only a single program running. The SVM also includes “local fee markets’’ so apps with lots of activity don’t spike fees for other apps on the network.
What is Eclipse?
Built to scale Ethereum, Eclipse is an L2 that settles to Ethereum, uses the Solana Virtual Machine (SVM) for execution of their smart contracts, and uses Celestia as a data availability provider.
Eclipse is described as “Ethereum’s fastest L2”, combining Solana’s speed with Ethereum’s liquidity.
Eclipse is the first general-purpose SVM chain set to launch in production outside of Solana Mainnet. This is similar to the launch of Binance Smart Chain (BSC), the first EVM chain that went live outside of Ethereum.
Why is Orca building on Eclipse?
For those that are new to Orca, we’re an advanced DeFi protocol on Solana built around a Concentrated Liquidity Automated Market Maker (CLMM). Orca’s simple and intuitive UX caters to beginner, advanced and professional users, making it the go-to choice for anyone looking to engage in DeFi on Solana (and now Eclipse!). The high throughput, low latency, and tiny transaction costs of the SVM enable trading and liquidity provision strategies that have historically not been possible on EVM chains.
Orca is working hard to be the primary DEX on Eclipse. We expect a lot of Ethereum users to bridge to Eclipse and try out Solana apps for the first time. We hope that many of these users’ first experiences of swapping and providing liquidity on a Solana app will take place on Orca on Eclipse!
Orca views Eclipse as an extension of Solana and the SVM, and we are not “going to another chain”. We want to support the growth and proliferation of the SVM, and become a trusted liquidity layer wherever and however the SVM evolves.
What to expect from Orca on Eclipse?
Ahead of our launch on Eclipse later this month, the Orca contributors have been deploying Orca’s smart contracts on Eclipse, adjusting our backend to support multiple chains, squishing bugs, and running tests to make sure everything is just right.
Since Eclipse will be Orca’s first multi-chain offering, the Orca is also ensuring that the user experience for selecting a chain is intuitive and that we can highlight unique features for each chain as needed. We’ll also be hosting some AMAs to answer any questions you may have.
Because no matter if you’re on Solana or Eclipse —
Orca makes DeFi easy. 🐳
