Joanna Zeng, CEO of SOON Network, on Being an ETH L2 Using SVM, The Future of High-performance L2s, and Community Centric Building | Ep. 427

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April 7, 2025 09:46 EDT

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Joanna Zeng, CEO of SOON Network, joined the Cryptonews Spotlight Podcast to discuss the future of high-performance Layer-2 solutions (L2s), the advantages of using Solana Virtual Machine (SVM) over Ethereum Virtual Machine (EVM), and how community-centric building is at the core of SOON’s mission.

As a pioneer in blockchain infrastructure and Web3 innovation, Zeng shared insights into how SOON creates scalable, user-friendly solutions while bridging ecosystems.

Building on Arbitrum: Why SOON Chose the L2 Path

“When we first launched almost four years ago, we committed to launching on Arbitrum. They were just by far and away the standout L2 in our mind.”

Joanna explains that Arbitrum’s low fees, speed, and EVM compatibility made it the ideal Layer 2 for SOON’s initial development, allowing it to build with minimal friction while maintaining high performance.

SOON Network: Integrating SVM for Performance

“Vertex is a perps DEX that sits on top of Borrowland. So everything’s integrated, works through an order very fast.”

SOON leverages the Solana Virtual Machine (SVM) to offer parallel execution and high-speed transactions while also bridging EVM compatibility for greater accessibility. This modular approach provides the best of both ecosystems.

Decoupled Innovation: The Key to Scalability

“SOON’s decoupled SVM separates execution from consensus, ensuring low-cost, scalable solutions like SOON Mainnet while bridging ecosystems via tools like the InterSOON bridge.”

By separating execution from consensus, SOON achieves high throughput without compromising security, while the InterSOON bridge ensures seamless interoperability across ecosystems.

Why SVM Beats EVM in High-Performance Scenarios

“What makes people tick is the fact that you can use high-speed, parallel processing on SVM while still leveraging Ethereum’s robust security model.”

SOON chose SVM because it can handle thousands of transactions per second without the bottlenecks commonly associated with EVM chains.

Community-Centric Building: A Co-Builder Funding Round

“We just reserved 51% of the token app as applied to the community. We want to be the first real-owned, community-owned project out there.”

SOON’s community-first approach was demonstrated by a co-builder funding round with no VC involvement, giving users a stake in the network’s growth and fostering long-term commitment.

Meme Culture as a Bridge Between Ecosystems

“The virality of social following is visible with Trump. His tweet is getting a much higher click rate than even some of the more well-known figures.”

SOON taps into meme culture to engage users and bridge the gap between Web2 and Web3, creating fun, relatable content that drives community engagement.

Multi-Tiered Funding: Combining Community and Flexibility

“We have three different tiers. You have the highest lock up, and then with the retail, you have the lowest lock up.”

SOON’s multi-tiered community funding model allows both retail investors and dedicated community members to participate, balancing liquidity and long-term alignment.

The SVM BNB Initiative: Bridging Solana and BNB Ecosystems

“We have DEXS deployed there. We have a lending protocol. We have memefi, which just means that you can borrow against your meme.”

SOON’s SVM BNB initiative aims to enhance liquidity and trading volume by merging Solana’s speed with BNB Chain’s user base, enabling creative financial applications like meme-backed loans.

Uniting EVM and SVM Worlds

“That’s really kind of what I’m all about: to bridge the two ecosystems, the EVM world and the SVM world.”

By integrating SVM with EVM compatibility, SOON aims to create a cohesive environment where users from both ecosystems can interact seamlessly.

SOON’s Unique Tokenomics: Community Ownership

“We accomplished that by doing a community round through an NFT mint, allowing anyone to participate.”

Through NFT-based community rounds, SOON ensures that early supporters have a stake in the network, fostering a sense of ownership and long-term involvement.

Why SVM Is the Future of High-Performance L2s

“With FireDancer, that will increase TPS in theory to 650K.”

SOON’s high-performance infrastructure takes advantage of FireDancer’s potential to deliver unprecedented throughput, making real-time financial applications viable on-chain.

Cross-Chain Innovation: SVM as the Gold Standard

“We are making SVM the gold standard across different ecosystems.”

SOON is positioning SVM as the universal standard for high-speed, low-cost blockchain execution, making it accessible through cross-chain compatibility.

The Red Pill Meme: Reimagining Ethereum

“We literally have this meme that’s called red pill… Ethereum is seen as an old gentleman… We’re going to red pill you and make you a young, cool, hip dude again.”

By rebranding Ethereum’s image through memes, SOON aims to make Ethereum feel modern and vibrant while maintaining its robust, established presence.

The Role of EigenLayer and Incentive Campaigns

“We’re doing a BTVL campaign, incentivizing folks to deposit TVL into the SOON mainnet.”

SOON’s BTVL campaign will reward liquidity providers, enhancing the network’s stability and usability through cooperation with EigenLayer.

What’s Next for SOON?

“We’re revealing our NFT mint today. Go claim your NFT image, redeem it, and post it on your socials.”

SOON continues to expand its ecosystem with new incentive programs, liquidity initiatives, and community-building efforts, aiming to dominate the high-performance L2 space.