Solaxys Momentum Continues as Solanas First Layer-2 Surges Past $4.5M in Presale
Things are getting interesting on the Solana blockchain.
Solana has been struggling with scaling, and a new Layer-2 project called Solaxy (SOLX) is stepping up to solve that issue.
The project has now raised over $4.5 million in presale suggesting investors are betting big on Solaxys advanced tech.
Solanas Traffic Jams Can Solaxy Build a Better Solution?
Solana is known for being super-fast and cheap.
But lately, its been hitting some snags.
It turns out that when things get really busy, a massive chunk of transactions around 40% fail.
This is mainly due to the explosion of Solana-based meme coins and all the bots that trade them.
Solanas tech is still solid but these bottlenecks are becoming a real problem.
Thats where Solaxy comes in.
Instead of trying to rebuild Solana from the ground up, Solaxy is adding another lane to the network by handling some traffic on a separate layer.
This way, Solana can keep its speed while Solaxy helps it handle way more transactions at once.
Solaxy is basically offloading some of the work from the main chain.
And it looks like investors are buying into this idea.
Solaxys Twitter page already has over 17,600 followers, while its official Telegram channel is gaining hundreds of new members daily.
SOLX Token Presale Passes $4.5M as Investor Hype Ramps Up
The core of Solaxys whole setup is its native token, SOLX, which has been doing exceptionally well in presale.
The presale has raised over $4.5 million in just 11 days.
Thats huge, and it shows that investors believe in projects trying to help Solana scale.
Right now, investors can purchase SOLX tokens for just $0.001576 each.
However, the price will jump again in less than 24 hours, so investors are scrambling to get involved at the lowest possible price.
Solaxys team accepts purchases in ETH, USDT, BNB, or card.
However, SOLX isnt just for investing.
Holders can actually use it within the Solaxy ecosystem; for example, they can stake SOLX for above-average yields.
These yields are estimated at 852% per year, but will naturally decrease as more people get involved.
SOLX is also used to pay for transaction fees on the Solaxy network.
So, its not just about buying and holding theres real utility with SOLX.
Big Names in Crypto Are Talking About Solaxy Heres Why
Solaxys team is also focused on security.
Theyve had the SOLX token audited by Coinsult, a well-known security firm, who found no issues with its code.
Coinsult also highlighted that the team is unable to mint new tokens meaning they cant just inflate the supply and dilute the value of everyones holdings.
Plus, the team has a clear plan for how theyre using the token supply: 30% for development, 25% for rewards, 20% for their treasury, 15% for marketing, and 10% for exchange listings.
This kind of transparency is rare for an early-stage project.
While doing some research, i found some alpha in @SOLAXYTOKEN ($SOLX) the worlds first Solana Layer 2.
They are eliminating Solanas congestion and failed transaction problems.
Built specifically for high-volume meme coin marketNow heres the alpha@SOLAXYTOKEN is offering pic.twitter.com/XjFyxPPqUr
Dehkunle Of Africa (@Dehkunle) December 19, 2024
And some big names are now beginning to talk about Solaxy.
Popular trader @dehkunle, who has over 500,000 followers on Twitter, mentioned Solaxy as a project worth checking out.
Another crypto analysis account, @blockviews, also discussed the projects potential.
These endorsements are bringing a lot of attention to Solaxy and its ambitious goals.
Ultimately, its a project thats passed an audit, has a clear plan in place, and is getting noticed by some influential people.
Its a strong combination positioning Solaxy as a crypto to watch as we move into 2025.
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