Solana scaling solution Solaxy raises $10 million in crypto presale As Solana's first Layer-2 solution, Solaxy aims to alleviate network congestion using roll-up technology. The project combines meme coin appeal with long-term utility, promising substantial growth
Solana Layer-2 solution Solaxy (SOLX) crossed the $10 million milestone in its trending presale. Despite the uncertain broader market, the presale traffic remains strong, sparking further interest. What’s the big deal about Solaxy, and why is it trending? Here is a closer look.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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The first Layer-2 for the Solana blockchain
Solana is one of the most popular blockchains. However, it is far from perfect. The network has been unable to keep up with growing demand. Traders continue to face network congestion as transactions are delayed and fees skyrocket. It’s about time the traffic jam on the blockchain is put to an end.
With the help of roll-up technology, Solaxy aims to ease the Solana network. The new Layer-2 solution will act as an off-ramp and process transactions on a secondary chain. The transactions are bundled together and sent for confirmation instead.
Spotlight WireThis unclogs the mainnet and reduces its computational burden, while also benefiting from Solana’s much-acclaimed security features.The next big Layer-2 solution?
Currently, the Layer-2 niche boasts a large market cap of close to $20 billion. Given that Solana is one of the fastest-growing blockchains in the world with a thriving ecosystem, it makes sense that Solaxy is drawing attention. As Solana’s first Layer-2 solution, the project shows promise.
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Spotlight WireLayer-2 platforms have a key role in decluttering the Layer-1 chains like Ethereum, which struggled to keep up with a growing investor base.The trend is expected to continue well into 2025 and beyond. Pro-crypto regulations and institutional adoption have the potential to further expand the market over the coming months. Solaxy’s upcoming launch is strategically aligned, as a result.
The frog genius is here
Solaxy is one of the most interesting altcoin projects to enter the market this year. But that hasn’t stopped it from embracing its fun side.
The Pepe-Einstein meme coin avatar has all the ingredients to capture the attention of degens, from vibrant illustrations to bold narratives. The project cleverly taps into meme coin hype while anchoring its long-term growth in utility.
https://x.com/SOLAXYTOKEN/status/1877001120351924431
SOLX: Unlocking the Solana ecosystem
SOLX is the native crypto of the Solana blockchain. It is used to pay transaction fees in the ecosystem. That’s not all, the token will also facilitate the project’s passive reward and governance mechanisms.
Investors who opt to lock their $SOLX tokens in the presale phase will earn passive rewards during the holding period. The strategy is aimed at encouraging token holding and discouraging early-stage sell-offs. At the time of writing this , the passive income annual percentage yield (APY) of Solaxy stood at 370%. Over 3 billion $SOLX tokens have already been locked in the platform.
According to the white paper, the project also has plans for a multichain infrastructure that combines the best of Solana and Ethereum.
Solaxy’s community support is growing, with close to 60,000 followers on X (Twitter) and Telegram. Crypto influencers and communities have also taken notice of the project. For example, 99Bitcoins recently featured Solaxy, highlighting its strategic positioning in the Layer-2 market.
$10 million raised and counting
In the current presale phase, SOLX tokens are available for a fixed price of $0.001596 each. The price increases with each new stage as the presale progresses.
It supports flexible payment options, from top cryptocurrencies like ETH, USDT, and BNB to fiat cards. However, investors will need a compatible crypto wallet like Metamask or Best Wallet to join the presale.
After the presale, $SOLX will be listed on popular crypto exchanges, and the market will decide its price. Ten percent of the total token supply is allocated for exchange liquidity, and 15% for marketing initiatives to lay the foundation for a smooth launch. Thirty percent of the total SOLX supply goes to the development of Solana Layer-2.
Spotlight WireThe Solana Layer-2 solution will go live after the first series of exchange listings. On the security side, Solaxy has completed an extensive audit by Coinsult. Visit the Solaxy ($SOLX) presale
Name: Solaxy
Email: [email protected]
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This story originally appeared on: India Times - Author:Faqs of Insurances
