Solana Layer-2 Solution Raises $28M: Why Solaxy is the Top Crypto Presale

Solanas congestion issues are well known and were highlighted earlier this year when the chain struggled with the demand seen on the launch of the Official Trump meme coin, but a solution is close to launching.

Solaxy (SOLX) intends to resolve the Solana networks issues with its upcoming Layer 2 blockchain. The project has raised over $28 million through its ongoing token presale, with many expecting significant gains once it goes live.

Solaxy Aims to Improve Solanas Scalability

With the Solaxy presale nearing its end, the launch of its Layer 2 ecosystem is drawing closer. Solaxy aims to reduce the burden on Solanas Layer 1 by leveraging a system called rollups. The Solaxy Layer 2 blockchain will use rollups to bundle transactions and process them in Solanas stead.

By reducing the strain on Solanas mainnet, Solaxy aims to tackle the issue of failed and delayed transactions that plagued Solana during high-traffic periods in January. Additionally, offloading transaction processing could result in lower gas fees.

Although Solaxy aims to increase Solanas throughput, the final settlement of transactions will still occur on Solanas mainnet. This way, Solaxys Layer 2 takes a hybrid approach that retains Solanas security and transparency while providing users with faster transactions.

As the development of the Solaxy Layer 2 ecosystem, fueled by 30% of the total SOLX supply, continues, the team behind Solaxy is constantly updating its audience on its progress.

So far, the team has revealed that its partnering with Hyperlane to enable seamless cross-chain transfers via a dedicated bridge and that its working on developing a token launchpad for Solaxys ecosystem, among other updates.

Expert Highlights Solaxys Explosive Potential and Generous Staking Rewards

Besides offering Solaxy at a lower entry point, the Solaxy presale features a staking mechanism with an impressive staking APY, currently at 144%. While this allows users to grow their token holdings long-term, the staking APY is dynamic, meaning it will decrease as traders lock more SOLX tokens in the staking pool.

So far, traders staked nearly 8 billion SOLX despite the 3-year vesting period, which reflects their confidence in the projects long-term success.

Plus, the project features a 7-day lockup period for staked tokens after the Token Generation Event (TGE), which can help prevent mass sell-offs on launch and reduce market volatility.

Popular analyst Austin Hilton believes Solaxy will see big gains on launch, expecting Solaxys Layer 2 to become the go-to chain for meme coin developers, which could positively impact the price of SOLX.

Heres How to Buy SOLX at a Discount

Traders can currently purchase Solaxy for $0.001676 per token via the presale website using SOL, ETH, USDT, or a credit or debit card. However, the per-token price is scheduled to increase each time the presale progresses to its next stage, which rewards early backers.

Alternatively, SOLX is available via Best Wallet, as the token is featured in the crypto wallets launchpad hub, which also accepts BNB payments.

Solaxys impressive performance during its presale phase is likely the result of its developers marketing efforts and focus on security. With 15% of the total token supply dedicated to boosting the visibility of the project, Solaxy already enjoys the support of over 84,200 followers across its X (Twitter) and Telegram pages.

Regarding security, an audit from Coinsult confirmed that the projects smart contract has no underlying issues in its code. Plus, 10% of the total token supply is set aside for liquidity, reducing the risk of a rug pull and lowering slippage.

Although the crypto market is as volatile as ever, Solaxy seems poised to become one of Q2s hottest crypto launches.

Visit Solaxy Presale

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Text source: ZyCrypto