Solaxy (SOLX) reaches a $10 million milestone in its presale phase, generating strong interest despite market uncertainties

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.

Budget with ET

Before budget, a few positives blink on Sitharaman's dashboard
Will Sitharaman make roti, kapada, makaan affordable again?
Rail Budget may see up to 20% hike, focus on station upgrades & modern trains
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.

This 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.

Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Performance Marketing for eCommerce Brands
By - Zafer Mukeri, Founder- Inara Marketers
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
A2Z Of Money
By - elearnmarkets, Financial Education by StockEdge
Marketing
Modern Marketing Masterclass by Seth Godin
By - Seth Godin, Former dot com Business Executive and Best Selling Author
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Strategy
Succession Planning Masterclass
By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital Marketing Masterclass by Pam Moore
By - Pam Moore, Digital Transformation and Social Media Expert
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Data Science
SQL Server Bootcamp 2024: Transform from Beginner to Pro
By - Metla Sudha Sekhar, IT Specialist and Developer

Layer-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.

The 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]

*You must be at least 18 years old to access this site.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is it responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.

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