Solaxy (SOLX), a new layer-2 scaling solution for Solana, has raised $15 million in its ongoing token presale event.
The project aims to address Solana’s network congestion issues by implementing off-chain processing mechanisms – similar to Ethereum’s layer-2 solutions.
The Solaxy presale – Tokenomics, staking, and security audits
Solaxy’s presale has maintained steady momentum since launching in December.
SOLX tokens are currently priced at $0.001618 each with no minimum investment requirement.
Investors can buy SOLX using crypto (ETH, USDT, BNB) or a credit/debit card.
Those who use the Best Wallet mobile app can also buy SOLX directly through the wallet’s interface.
While the developers haven’t announced a hard cap or end date, they have set aside 10% of the total SOLX supply for future exchange listings following the token generation event (TGE).
Source: SOLAXY
Early investors have already shown significant engagement with Solaxy’s staking protocol.
So far, investors have staked 4.5 billion SOLX tokens in this protocol.
It’s a way for presale participants to accumulate extra SOLX before the token reaches exchanges.
On the security front, Coinsult has completed an audit of Solaxy’s smart contracts and reported no significant vulnerabilities in their code.
Their audit also confirmed the Solaxy team cannot mint new SOLX tokens.
Solaxy’s new layer-2 solution aims to address Solana’s network congestion
Solaxy introduces layer-2 scaling technology to the Solana blockchain.
It follows a model that has already proven successful on Ethereum through platforms like Arbitrum and Optimism.
The system processes transactions away from Solana’s main network, bundles them together, and sends them back for final verification.
It’s similar to how a bank might process thousands of transactions throughout the day but only settle them in larger batches.
This approach aims to solve a persistent challenge that Solana is facing: network congestion.
While Solana does handle transactions faster (and cheaper) than many competitors, recent events like meme coin launches have still caused network slowdowns.
By moving transactions off the main chain, Solaxy aims to prevent those bottlenecks, while maintaining Solana’s security guarantees.
Members of Solaxy’s Telegram channel believe this could potentially transform the Solana ecosystem.
They cite the potential for a smoother user experience, particularly during periods of high network activity.
Some even speculate that Solaxy could unlock new possibilities for dApps.
Solaxy’s roadmap and tokenomics explained
Solaxy’s development roadmap extends beyond its layer-2 functionality.
The developers have plans to create a bridge connecting the Solana and Ethereum ecosystems.
This feature could expand access to cross-chain liquidity and enable rapid asset transfers between the two leading blockchains.
Solaxy has a clear tokenomics structure to back things up, with 30% of the supply allocated to ongoing development.
There’s also a 25% allocation for early supporter rewards, 20% for treasury reserves, 15% for marketing, and the remainder for liquidity.
Since its presale launch, Solaxy has attracted attention from different areas of the crypto community.
For example, it’s earned a high ranking on platforms like CoinSniper and ICOBench.
Several popular content creators have also uploaded videos about SOLX.
This market attention, coupled with the project’s ambitious roadmap, has added to the speculation about Solaxy’s potential in 2025.
The development team provides regular updates on the official website, with their most recent technical briefing published on January 4th.
Ultimately, as community interest continues to grow, Solaxy faces the task of transforming its presale momentum into tangible results.