New crypto contender Solaxy has hit another new milestone in its trending presale, having now raised $9 million within a month of its launch.
Solaxy ($SOLX) is the world’s first layer-two (L2) blockchain on Solana. Designed to address the core challenges of scalability, congestion, and failed transactions that the Solana network faces, Solaxy is already creating buzz in the crypto market.
While $SOLX is currently priced at $0.001594 per token, the price will increase incrementally throughout the presale, making this a limited-time opportunity for early investors to secure tokens at the lowest possible rate.
With the Solana network preparing for mass adoption in the upcoming crypto bull market, Solaxy’s innovative approach can help position it as a key player in blockchain scalability.
Solaxy Enhances Solana’s Speed, Scalability, and Reliability
Solana is deemed as one of the top blockchains in the world, even holding the record for the highest number of transactions per second (TPS).
Moreover, it stands out as the fastest blockchain – with a record number of 91 million transactions processed in a single day – equating to 1,500 TPS per second. Nonetheless, Solana has utilized just 1.6% of its theoretical maximum capacity of 65,000 TPS.
Furthermore, Solana struggles with network congestion issues during high traffic periods, resulting in network bottlenecks, downtime, and scalability problems. These limitations often lead to failed transactions, causing frustration for both users and developers relying on the network’s reliability.
Thus, Solaxy is creating a separate Layer 2 blockchain designed to handle some of Solana’s workload through innovative solutions like off-chain processing and transaction bundling. By transaction bundling, Solaxy optimizes scalability – keeping costs low and throughput high.
Solaxy will also offload transactions onto the L2 network – to reduce the data burden on the main network, leading to faster and more efficient transactions. This approach not only improves transaction speed and cost efficiency but also eliminates network downtime.
By solving these issues, Solaxy makes Solana more reliable and ready to handle the increasing demand for blockchain in areas like decentralized finance (DeFi), gaming, and NFTs.
Merging the Best of Solana and Ethereum
Solana’s main benefit is that it offers faster transaction speeds at a lower cost through its high-performance network. However, Ethereum stands out as the most dominant network in terms of liquidity.
Ethereum boasts a Total Value Locked (TVL) of $71 billion compared to Solana’s $9.5 billion, according to DeFiLlama. Recognizing this disparity, the Solaxy team strategically launched $SOLX on the Ethereum network. Therefore, Solaxy merges Ethereum’s liquidity and security with Solana’s speed and cost-efficiency.
This innovative strategy positions Solaxy as a connector between two of the most prominent blockchain ecosystems, expanding its potential user base and market reach.
https://x.com/SOLAXYTOKEN/status/1873021430268391773
Staking Rewards and Long-Term Potential
Apart from the network issues Solaxy aims to solve on the Solana blockchain, it also allows token holders to generate passive income through the staking mechanism.
All $SOLX token holders can stake their holdings into smart contracts and generate an APY (Annual percentage yield) of up to 382%. With over 3 billion tokens staked so far, the staking program reflects strong community confidence in the project.
Due to such long-term benefits, Solaxy is attracting the attention of top crypto analysts. For instance, Jacob Crypto Bury, a crypto YouTuber with over 50,000 subscribers recently talked about Solaxy’s huge growth potential.
In a recent YouTube video, Bury speculated that the $SOLX token price could 10x after the presale comes to an end. He attributes this growth potential due to Solaxy’s stellar presale performance combined with its utility and passive income.
How to Secure Your $SOLX Tokens
With $SOLX currently priced at $0.001594 per token, interested investors may prefer purchasing the tokens during the early presale stages, before the next price increase.
$SOLX can be purchased through the Solaxy presale website, or directly through the ‘Upcoming Tokens’ section on Best Wallet – one of the top new non-custodial crypto wallets.
Solaxy is more than just a blockchain project, it’s a vision for the future of scalable, reliable, and inclusive blockchain technology. The project has undergone a rigorous audit by Consult, ensuring the safety and security of its smart contract code.
Follow Solaxy on X or join the official Telegram channel for the latest updates and announcements.
