Solaxy presale launches for Solana Layer 2, over $1 million raised in 24 hours

Newly presale Solaxy has been racing past every milestone with $2 million raised just a few days after it launched. In the past 24 hours alone, over $1 million has poured in from investors
Advertorial
Posted by Advertorial December 18, 2024 4 Mins Read
Newly presale Solaxy has been racing past every milestone with $2 million raised just a few days after it launched. In the past 24 hours alone, over $1 million has poured in from investors

Newly presale Solaxy has been racing past every milestone with $2 million raised just a few days after it launched. In the past 24 hours alone, over $1 million has poured in from investors.

Solaxy is the first Layer 2 protocol on Solana, designed to address Solana network issues such as congestion, failed transactions, and scalability challenges. SOLX is currently in the sixth phase of its presale, with a price set at $0.001566.

The initial offer price for the presale began at $0.001. The next price increase will occur once the total fundraising reaches $2,155,955, which looks likely to happen today judging by the presale’s success so far.

Can Solaxy tackle Solana’s scaling issues?

Solana has been the most popular blockchain of 2024 — driven by the explosion of meme coins on the network. By offering higher throughput and lower costs, the network has pulled many traders from Ethereum who are looking for faster and cheaper transactions.

However, this success has come with its own problems. With literally thousands of meme coins launched every day through no-code launchers like pump.fun, Solana has faced its own challenges.

Congestion is the primary performance issue faced by Solana, and it manifests in various ways. The creation of meme coins is a significant factor, resulting in a spike in what are referred to as spam transactions.

Spam transactions are typically generated by bots trying to access blocks through the quickest queues, resulting in most of these transactions remaining unprocessed.

There’s been a huge increase in failed transactions with up to 70% of non-vote transactions failing. At any one time up to 25% of transactions fail on Solana.

The developers involved are hard at work trying to fix these issues. Nevertheless, similar to Ethereum, these new modifications will not eliminate the necessity for Layer 2 solutions.

In fact, they highlight Layer 2s as a more practical and dependable method for achieving scalability – meaning Solaxy is perfectly positioned to solve Solana’s problems.

Solaxy: multi-chain, layer 2, and more

Solaxy not only addresses the challenges faced by Solana, but it also acts as a multi-chain powerhouse that connects Ethereum and Solana, the two most dominant and widely-used blockchains in the cryptocurrency sector.

Being the first Solana Layer 2 ever created, the Solaxy token is significantly ahead of its time. It selected Solana as its base due to its strong capabilities and aims to unlock its full potential.

Solaxy is not just creating another meme token for Solana; instead, the Solaxy token introduces an entirely new application layer for the Solana platform. This layer offers not only quicker speeds and reduced costs but also takes advantage of the liquidity and security found in the Ethereum DeFi ecosystem.

In summary, Solaxy improves upon the best features of Solana in innovative ways that help solve real issues faced by the Solana community. That’s why it has attracted the attention of high-profile crypto users like Jacob “Crypto” Bury.

The native token of the Solaxy network, SOLX, is multi-chain, allowing it to attract users and buyers from both Ethereum and Solana networks and providing an entry point into both blockchain ecosystems. Currently, there is no other token like SOLX available in the market, adding to its potential as a first-mover.

To add to all this, Solaxy also offers staking rewards to its holders. Already over 685,108,774 SOLX Tokens have been staked and the protocol offers a dynamic staking yield of up to 1679%. This will drop as more investors stake their tokens in the staking pool, meaning greater rewards for early stakers.

Solaxy presale is in full swing

The Solaxy presale has just launched but it's already shaping up to be an intergalactic success. You can buy SOLX with ETH, BNB, and SOL, making it accessible to users of any of these top three blockchains.

The token is also available to purchase with a card or through Best Wallet’s Upcoming Tokens feature. This innovative feature gives you early access to presales and also lets you view your tokens in the wallet before the official claim date, giving you peace of mind.

As we’ve seen with the recent success of Pepe Unchained, a Layer-2 solution to Ethereum, demand is high for scaling solutions. Pepe Unchained held the biggest ever meme coin presale this year, raising over $65m, and pumped by over 600% when it listed on exchanges earlier this month.

By combining an L2 solution with meme coin virality, Solaxy is capitalizing on two of the biggest crypto narratives of this altcoin bull cycle.

Although the presale started just a few days ago, it’s already been a huge hit. Almost $2 million has been raised and traders are excited about the project's potential to solve real problems in the Solana ecosystem.

Solaxy simplifies the process of creating, launching, and engaging with decentralized applications without sacrificing performance, which may position it as one of the most attractive offerings in the cryptocurrency space today. It offers developers and users a platform that leverages the strengths of Solana while addressing its weaknesses and providing a way to earn through staking.

To find out all the latest news about Solaxy, check out the SOLX community on Telegram or X.

Tags: