AI agent platform Virtuals Protocol has announced it will expand into the Solana ecosystem, and industry participants are saying the integration will have more impact than “most people realize.”
Virtuals Protocol (VIRTUALS), already on the Ethereum layer-2 network Base, said that its expansion to Solana (SOL) blockchain, a layer-1 network, is part of its efforts to “drive innovation across multiple ecosystems,” as per a Jan. 25 X post.
1% of trading fees to be converted into SOL for strategic reserve
Being on both Solana and Base chains could help grow ecosystem participation, attract developers and users from Solana, and increase scalability while easing network congestion.
“Solana, known for its speed, scalability, and vibrant community, is the perfect place for us to grow and bring our vision to life,” Virtuals Protocol said.
Virtuals will introduce several new features on the Solana network, including a Strategic Solana reserve, where 1% of trading fees will be converted to SOL to build a reserve to “support and reward agents” and creators within the ecosystem.
Virtuals Protocol is trading at $2.47 at the time of publication. Source: CoinMarketCap
It will also launch a Meteora pool to improve liquidity and an expanded grants program to support early-stage builders on Solana.
WolvesDAO founder Sam Steffanina said in a Jan. 25 X post that the integration is “bigger than most realize.”
Steffanina said that “multichain is the future” and “2025 is the year of crosschain expansion.”
‘Smart move’ launching on Solana first
Despite speculation in the crypto industry about Virtuals potentially launching its own chain, Nuffle Labs co-founder Altan Tutar called the decision to expand to Solana first a “smart move.” He said in an X post:
“The team clearly understands where their target users are and is unlocking that potential quickly by going to where the liquidity is. Launching their own chain would take time, and this approach allows them to capture value more immediately.”
Virtuals launched in October 2024 and is currently the 68th largest crypto token by market capitalization, valued at approximately $1.6 billion, according to CoinMarketCap data.
Related: Solana-based DEX Jupiter acquires majority stake in Moonshot
The announcement follows Virtuals recently relaunching its bug bounty program after an unexpected bug was found in an audited smart contract.
Pseudonymous security researcher Jinu contacted Virtuals after discovering a bug in one of its audited contracts.
After reporting the issue, Jinu learned that the company did not have an active bug bounty program, meaning the discovery did not qualify for a reward.
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