Wormhole Labs launches Sunrise, bringing assets such as MON into the Solana ecosystem.

Wormhole Labs (the company behind the cross-chain protocol Wormhole) announced the public launch of Sunrise, a new liquidity portal focused on the Solana ecosystem, designed to be the canonical path for external assets to enter Solana. This product aims to solve the liquidity fragmentation problem often associated with cross-chain bridging of new tokens, ensuring that new on-chain assets can be traded within the Solana ecosystem from day one. First major test case: Sunrise will support MON, the native token of the highly anticipated Monad blockchain, on its launch day, with trading scheduled to begin tomorrow (November 24th). Ecosystem integration: Assets entering Solana through Sunrise will be able to be immediately traded on Solana DeFi platforms, including the decentralized exchange Jupiter and the block explorer Orb. Technical foundation: Sunrise utilizes Wormhole's Native Token Transfers (NTT) infrastructure, allowing tokens to retain their utility and fungibility after cross-chain transactions, avoiding the risks of relying on traditional liquidity pools. Future Expansion: Wormhole Labs CEO Saeed Badreg stated that Sunrise plans to expand beyond crypto assets to support tokenized goods, stocks, and real-world assets (RWAs) issued on institutional blockchains. Kuleen Nimkar, Head of Growth at the Solana Foundation, stated that products like Sunrise are crucial for Solana to realize its vision of an "internet capital market." Monad, a high-profile Layer 1 network project that completed a $225 million funding round led by Paradigm in early 2024, is further solidifying its position in the Solana market structure by positioning Sunrise as the primary gateway to MON.