Solaxy ($SOLX) is launching as the first Solana Layer-2 blockchain, aiming to alleviate congestion, enhance transaction speed, and reduce costs

Solana Layer-2 ‘Solaxy’ smashes $9 million in crypto presale This blockchain project has garnered $9 million in its presale. With a multichain approach and fun functionality inspired by Pepe the Frog, it is set to make a significant impact

Solaxy ($SOLX) is the first-ever Solana Layer-2 blockchain. It aims to solve the long-standing congestion issues on Solana and bring more speed and cost-efficiency to the network.

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Solaxy just broke the $9 million milestone in its presale campaign. With an early sell-out on the horizon, here is a closer look at the project.

How Solaxy addresses Solana’s growing pains

Over the last few years, Solana has experienced frequent network outages. They have significantly impacted the user experience for traders and developers. Although Solana is taking steps to mitigate the problem, it has been unable to keep up with the growing demand.

The congestion issues continue to leave users in agony, with high transaction fees and long processing times. The limited computational power impedes the network’s growth potential.

Solaxy ($SOLX) puts forward a robust scalability solution to help Solana unlock its full potential. With another bull surge on the horizon, SOLX has emerged as one of the crypto projects.

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The project’s upcoming Layer-2 solution bundles and computes transactions off the Solana main network. This leads to cheaper, faster, and more reliable transactions. At the same time, the Solaxy blockchain will report back to Solana for finality.

As a result, the network makes the most of Solana’s much-acclaimed security and permanency features. Similar to how Arbitrum and Optimism brought more efficiency to Ethereum, Solaxy supercharges Solana.

https://x.com/SOLAXYTOKEN/status/1874095341743624645

$SOLX is the native crypto of Solaxy. It is used to transfer value and pay gas fees across the ecosystem. The total supply of $SOLX is capped at 138,046,000,000.

The project has defined its tokenomics with strategic allocations for marketing, rewards, listings, development, and treasury. The largest allocation of 30% goes to the development of the Solaxy ecosystem, while 25% goes to community rewards, as part of fuelling engagement within the ecosystem and sustaining market momentum.

The next biggest allocation is towards the treasury with its share of 20% of the total supply, while the remaining 10% goes to the listing of $SOLX tokens on top crypto exchanges.

Following the presale, the token will be listed on centralised and decentralised crypto exchanges. The Solaxy Layer-2 solution is scheduled for launch in the third phase of the roadmap.

Multichain infrastructure, multiple possibilities

$SOLX will be deployed on multiple chains and allow presale buyers to bridge their tokens to the Solaxy Layer-2 blockchain. For example, the presale token is also available for purchase on the Ethereum network.

Solaxy is aiming for a multichain infrastructure that unlocks Ethereum’s robust (decentralised finance) DeFi and liquidity infrastructure to help scale Solana.

The network’s modular infrastructure optimises performance and allows developers to create tailored dApps for a wide range of use cases. Another exciting possibility lies in the meme-coin niche, where speed is crucial to success.

The sector is known for its high transaction volumes that most networks have been struggling to meet. Solaxy’s optimised network could nurture a hub where high-volume assets like meme coins can thrive. Since Solaxy executes transactions off-chain, it eliminates downtime and can provide largely uninterrupted service.

Another interesting feature of the project is its unique fun-functionality fusion. Although Solaxy has a serious mission rooted in the Solana ecosystem, it adopts a fun theme centred around the iconic Pepe the Frog. The strategy seems to have worked, with degens pouring money into the presale.

The Layer-2 niche currently boasts a large market cap of over $19 billion, with Mantle, Arbitrum, and Optimism leading the charts. As a new project stepping into the Layer-2 market, Solaxy has successfully drawn the attention of investors.

While the presale has broken the $9 million milestone, the project’s social media presence is also growing rapidly, having crossed 50,000 already. Crypto influencers have been promoting the project across X and YouTube, highlighting the unique fusion of Pepe with utility.
The $SOLX presale offers investors a short window to purchase the token at low, fixed prices before it hits exchanges. At the time of writing, $SOLX was selling for just $0.001586. With each new stage, the presale price will go further up.

Investors can use ETH, BNB, USDT, and bank cards to purchase the token. Solaxy has undergone an extensive security audit by Coinsult, who found no issues with the code.

Visit the Solaxy ($SOLX) presale.

Name: Solaxy
Email:[email protected]

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This story originally appeared on: India Times - Author:Faqs of Insurances