Outside Source
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 Solaxy’s advanced tech.
Solana’s Traffic Jams – Can Solaxy Build a Better Solution?
Solana is known for being super-fast and cheap.
But lately, it’s 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.
Solana’s tech is still solid – but these bottlenecks are becoming a real problem.
That’s 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.
Solaxy’s 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 Solaxy’s 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.
That’s huge, and it shows that investors believe in projects trying to help Solana scale.
Right now, investors can purchase SOLX tokens for just $0.001576 each.
However, the price will jump again in less than 24 hours, so investors are scrambling to get involved at the lowest possible price.
Solaxy’s team accepts purchases in ETH, USDT, BNB, or card.
However, SOLX isn’t just for investing.
Holders can actually use it within the Solaxy ecosystem; for example, they can stake SOLX for above-average yields.
These yields are estimated at 852% per year, but will naturally decrease as more people get involved.
SOLX is also used to pay for transaction fees on the Solaxy network.
So, it’s not just about buying and holding – there’s real utility with SOLX.
Big Names in Crypto Are Talking About Solaxy – Here’s Why
Solaxy’s team is also focused on security.
They’ve had the SOLX token audited by Coinsult, a well-known security firm, who found no issues with its code.
Coinsult also highlighted that the team is unable to mint new tokens – meaning they can’t just inflate the supply and dilute the value of everyone’s holdings.
Plus, the team has a clear plan for how they’re using the token supply: 30% for development, 25% for rewards, 20% for their treasury, 15% for marketing, and 10% for exchange listings.
This kind of transparency is rare for an early-stage project.
While doing some research, i found some alpha in @SOLAXYTOKEN ($SOLX) the world’s first Solana Layer 2.
They are eliminating Solana’s congestion and failed transaction problems.
Built specifically for high-volume meme coin marketNow here’s 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 project’s potential.
These endorsements are bringing a lot of attention to Solaxy and its ambitious goals.
Ultimately, it’s a project that’s passed an audit, has a clear plan in place, and is getting noticed by some influential people.
It’s a strong combination – positioning Solaxy as a crypto to watch as we move into 2025.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
This article first appeared at CryptoPotato
