Since their respective launches in July 2015, and March 2020, Ethereum and Solana have grown to become the two largest smart contract platforms in the crypto industry by developer count and user activity. In the process, their native tokens - ETH and SOL - have also become some of the most significant assets in the world by market capitalization, solidifying their status as pioneers in the industry. 

ETH, and SOL, but isolated.

Traditionally, assets on Ethereum and Solana have been confined to their respective ecosystems. To retain exposure and access liquid trading between ETH and SOL (two of the most liquid tokens in crypto), users have had to resort to transacting on CEXes, while they have been completely unable to access cross-asset defi. 

Users on Solana have insufficient liquid onchain markets to swap between SOL and ETH and likewise for users on Ethereum. As ETH and SOL market demand increases over time we expect more demand for liquid SOL-ETH markets. 

Why now?

There is growing demand for exposure to both ETH and SOL, as their holder bases increasingly overlap. However, no ecosystem currently allows users to simultaneously maintain exposure to both tokens while actively participating in native DeFi opportunities.

SOL-ETH DeFi

Eclipse stands at the technological and cultural intersections of two of the largest blockchains, Solana and Ethereum. That also means we stand at the intersection of two of the most important assets in crypto today, SOL and ETH. 

Eclipse will be home to SOL-ETH DeFi.

A few examples of SOL-ETH DeFi include:

-Providing SOL-ETH DEX liquidity on Orca, facilitating low slippage onchain swaps.
-Borrowing SOL collateralized by ETH on Save, enabling leveraged spot exposure on both assets.
-Minting a decentralized stablecoin against SOL or ETH collateral on Neptune, increasing capital efficiency and asset productivity.
-Tokenize and sell future yield on Sandglass.
-Play and win through gamified prize pools using LRTs on Windfall.

If you are a builder, here are some gamified ideas that we think could be fun.

-Lossless SOL LRT and ETH LRT games where the winner wins all the yield of the counterparty.
-SOL memecoin vs ETH memecoin competitions.
-Tribal wars onchain with SOL and ETH at stake. 

Conclusion

The integration of SOL and ETH into DeFi is inevitable, and Eclipse is where this convergence becomes reality. Eclipse aims to be the hub for a DeFi ecosystem that seamlessly bridges SOL and ETH, offering holders the opportunity to generate yield on both assets simultaneously while preserving exposure to both with liquid onchain SOL-ETH markets.

To further SOL-ETH DeFi on Eclipse, we have created tETH, a Unified Restaking Token, combining the largest yield-generating protocols on Ethereum into one easy-to-use default yield token. In the future, we expect to launch a URT for SOL. 

Eclipse is here to make DeFi fun again. 

Eclipse
Eclipse is Ethereum's first L2 powered by the Solana Virtual Machine, combining the speed of Solana with the liquidity of Ethereum. This novel architecture enables a high-performance L2, with access to Ethereum's liquidity, while maintaining the hard constraint of verifiability. Eclipse gives developers a general-purpose L2 capable of massive scale that can power the next generation of decentralized applications. To learn more about Eclipse, visit our website, and join the community on Twitter and Discord.

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