Solaxy Surpasses $22 Million in Presale Funding

Solana is set to introduce its first layer-2 scaling solution, Solaxy (SOLX), which has successfully raised over $22 million in presale funding. The project aims to enhance Solana’s transaction speeds while lowering costs through off-chain computation.

How does Solaxy plan to scale Solana?

Operating as a layer-2 network atop the Solana blockchain, Solaxy processes transactions off-chain before bundling them for completion. This strategy addresses one of Solana’s ongoing challenges: network congestion. While Solana theoretically supports up to 65,000 transactions per second, users often experience slowdowns during peak times, such as meme coin launches. Solaxy’s team is optimistic about eliminating these slowdowns to create a more streamlined experience for both traders and developers.

In addition, Solaxy’s modular infrastructure will allow for the creation of customized decentralized applications (dApps) without compromising performance. This feature is particularly advantageous for developers looking to innovate without the delays caused by network traffic. Solaxy will also implement a bridge connecting Solana and Ethereum, further enhancing its utility.

What makes Solaxy unique in Solana’s ecosystem?

What sets Solaxy apart from other scaling solutions is its dedicated focus on addressing the unique challenges faced by Solana’s high-performance network. The project has garnered significant attention on X (formerly Twitter) and has seen growth in its official Telegram channel since its launch.

What are the achievements of the SOLX token presale?

The native SOLX token is integral to Solaxy, managing transaction fees, staking rewards, and facilitating trading within Solaxy’s liquidity pools. Currently, SOLX holders can participate in a staking program with estimated annual yields of 179%, although this rate may adjust as more investors engage in staking.

As of now, SOLX tokens are priced at $0.001642 and can be acquired through cryptocurrency or credit/debit card purchases. The presale, which kicked off on December 12, has raised approximately $22.7 million. Once the presale concludes, the team plans to list SOLX on a decentralized exchange (DEX) and allocate 10% of the total supply for liquidity.

How is Solaxy ensuring security and integrating into the ecosystem?

As Solaxy prepares for its launch, security remains a top priority. The project has successfully undergone an audit by SolidProof, which identified no vulnerabilities in its layer-2 smart contracts. This commitment to security has led to listings on reputable crypto rating platforms such as CoinSniper and ICOBench.

The timing of Solaxy’s launch aligns with anticipated advancements in the Solana ecosystem. According to VanEck, Solana’s market share in the smart contract platform sector could rise from 15% to 22% by the end of 2025, fueled by improvements like the Firedancer validator client. Layer-2 solutions like Solaxy may play a pivotal role in this growth by tackling scalability issues directly.

With Solana’s increasing adoption across decentralized finance (DeFi) platforms and innovations like the Seeker phone from Solana Mobile, the ecosystem is evolving in ways that could benefit from Solaxy’s infrastructure. However, it remains early days for this new layer-2 project, and developers must demonstrate Solaxy’s real-world performance while attracting users and developers to effectively address Solana’s scalability challenges.