Layer-2 Newcomer Solaxy Raises $7M in Presale as Solana Scaling Race Heats Up
The competition to scale Solana is heating up.
Solaxy (SOLX), the first Layer-2 solution explicitly designed for Solana, has just passed the $7 million mark in its presale.
The project, backed by investors eager to solve Solanas challenges, aims to reduce network congestion and improve the overall user experience.
Solana Experiences Growing Pains but Solaxy Aims to Unclog the Network
Anyone active in the Solana ecosystem lately will be all too familiar with its pain points.
Network congestion has become a daily frustration, with around 42% of non-voting transactions failing during peak times.
The causes?
An influx of new users, the fast rise of meme coin trading, and a swarm of bots all vying for Solanas limited network capacity.
This is where Solaxy steps in with its approach to scaling.
Instead of forcing even more transactions through the Solana mainnet, Solaxy eases the burden by processing transactions on a second layer.
Its like adding extra lanes to a highway traffic flows smoother, even during busy periods.
Solaxys approach centers around three key features: off-chain processing to handle the heavy lifting, transaction bundling to reduce costs, and secure settlement back on the main Solana chain.
What also sets Solaxy apart is its bridge between Solana and Ethereum, which opens new opportunities for developers who want to use both ecosystems.
SOLX Token Presale Takes Off & Raises $7M as Investors Jump In
Solaxys success hinges on its native token, SOLX, which has already caught the attention of investors.
In less than two weeks since its presale went live, Solaxy has raised over $7 million.
Thats a clear sign of the demand for Solana scaling solutions.
Early investors can currently grab SOLX tokens for $0.001586 each, but that price wont be available for long.
The presale is structured in stages, each with a different price, rewarding those who act quickly.
Investors can participate in the presale using ETH, USDT, BNB, or a credit/debit card.
Importantly, SOLX is more than just a random token connected to Solaxy.
Its the backbone of Solaxys entire ecosystem, designed to fuel transactions and power the governance system.
Blockchain security firm Coinsult has also audited the SOLX token and found no issues with its code.
This early focus on transparency and the presales enormous momentum suggests Solaxy could be a must-watch project in early 2025.
Fast-Growing Community Signals Strong Market Interest in Solaxy
While Solaxys technology is grabbing attention, its community presence is just as impressive.
The project has secured a spot on Best Wallets Upcoming Tokens portal known for identifying big winners before they hit mainstream exchanges.
That has only added to the social buzz around Solaxy.
Hundreds of people are joining its Twitter and Telegram channels daily, and the project is also catching the attention of major crypto influencers.
For example, Jacob Crypto Bury tweeted yesterday that if this momentum continues, the SOLX presale could sell out.
YouTuber ClayBro also discussed SOLX in a video claiming that early investors could see huge profits.
Solaxy presale already passed $7 million, could sell out soon possibly one to watch for Solana bulls $SOL $SOLX
DYOR https://t.co/UuZScpnmos pic.twitter.com/V8iP9349Jz
Jacob Crypto Bury (@BuryCrypto) December 30, 2024
Beyond social chatter, Solaxy is also seeing recognition from ratings platforms.
High rankings on CoinSniper and ICOBench add an extra layer of credibility to the project.
But the most telling sign of its traction is just how excited early investors are.
Many believe Solaxy could be perfectly positioned to capitalize on the next big trend in crypto.
With Solanas ecosystem growing faster than ever, the timing for a Layer-2 solution couldnt be better.
That makes Solaxy one to watch in the days and weeks ahead.
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