Alchemy Expands to the Solana Ecosystem

The company, valued at $10.2 billion, will support developers who seek to build on the chain.

AccessTimeIconJun 2, 2022 at 12:00 p.m. UTC
Updated Jun 2, 2022 at 1:07 p.m. UTC

Alchemy is expanding its services to the Solana ecosystem, the Web 3 developer platform said on Thursday. The beta version is now live for users to sign up and will be released to the wider public in the coming weeks, according to a press release.

Popular Web 3 products, such as OpenSea, Aave and 0x, were developed through Alchemy. Product manager Michael Garland told CoinDesk that Alchemy is excited to cater to the “existing, thriving, very passionate ecosystem of developers that have grown up natively on Solana.”

“We haven't been able to help them out with our existing tooling,” he said, noting the new platform will help developers save time and accelerate product development. “I’m super excited about making the lives of Solana developers much easier,” Garland added.

Though Alchemy introduced Ethereum scaling solutions only last June, Solana Labs Head of Communications Austin Federa said the chain’s efficiency makes it a good platform for developers looking to take their products to Web 3 from Web 2.

“The hope of Solana” is to move “from a world where transactions are scarce and expensive, and slow, to a world where transactions are fast, cheap and readily available,” Federa told CoinDesk.

Alchemy raised $200 million in a Series C-1 funding round in February at a valuation of $10.2 billion. The platform has “tens of thousands” of developers, according to Garland, but he did not specify a number.

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