New Solana Layer 2 Challenge, Solaxy, Raises $2 Million in First Week of Presale

Solana has showcased outstanding efficiency all through 2024, outpacing Ethereum by over 50% in year-to-date positive factors. This solidified SOL’s place within the Layer 1 blockchain membership. Nonetheless, with its excessive throughput being stunted by spam transitions and community congestion, many began questioning the way forward for Solana. Among the many rising initiatives main the cost to assist Solana is Solaxy, the first-ever Solana Layer 2 protocol.

Presently priced at $0.001566, Solaxy ($SOLX) is within the sixth stage of its presale, which has seen overwhelming demand. With $2 million raised in underneath every week, the mission highlights its reputation and optimism amongst traders concerning Solaxy’s revolutionary resolution. Solaxy has not too long ago reached a milestone of elevating over $750,000 within the first 24 hours of its presale as effectively.

Early consumers can maximize their positive factors by staking their $SOLX tokens, with a dynamic APY of as much as 1,680%. This charge is dynamically adjusted as extra tokens are staked, rewarding early adopters whereas sustaining long-term sustainability.

How Does Solaxy Assist Solana? The Use Case Behind the Solaxy Token Presale

Solana’s unmatched velocity and cost-efficiency have made it a go-to platform for high-throughput functions, together with meme coin launches. Nonetheless, its reputation has led to vital congestion points, with spam transactions and failed executions all over.

Because the first-ever Layer 2 protocol on Solana, Solaxy addresses these ache factors by introducing:

• Improved scalability and transaction throughput
• Decrease charges
• Enhanced reliability

Past simply fixing Solana’s points, Solaxy bridges the hole between Solana and Ethereum, leveraging Ethereum’s liquidity and safety to create a strong, multi-chain resolution.

Solana and Its Community Congestion Points

Solana definitely stands out from the Layer 1 blockchain crowd as a high-performance blockchain, however its speedy development hasn’t been with out challenges. Because the platform gained reputation, it started experiencing community congestion. Hundreds of functions, together with meme coin launches and no-code platforms, have flooded the community with transactions.

Similar to a busy freeway throughout rush hour, too many automobiles (or transactions) attempting to get via on the similar time results in gridlock, slowing all the pieces down and making the community much less environment friendly.

This congestion led to excessive charges of failed transactions, with some estimates suggesting that as much as 25% of transactions don’t undergo. These points have highlighted the necessity for higher scalability and extra dependable efficiency on Solana.

On prime of the pure community congestion, Solana suffered from spam transactions as effectively. Spam transactions are sometimes despatched by bots as they try to get into blocks by way of the shortest queues, akin to skipping lanes in site visitors.

Meme coin initiatives are accountable for most of this spam, with gaming initiatives coming in second.

Solaxy because the Multi-Chain Resolution to Solana’s Issues

Solaxy, the first-ever Layer 2 protocol constructed for Solana, supplies a strong resolution for this downside. It’s constructing an categorical lane on the Solana freeway, the place precedence site visitors can transfer freely with out being impacted by the congestion on the principle highway. Solaxy goals to tackle a big portion of the transaction load, decreasing congestion and making certain that professional transactions are processed shortly and effectively.

Along with enhancing Solana’s efficiency, Solaxy additionally connects with Ethereum, combining the most effective options of each blockchains. The native token of the Solaxy community, $SOLX, is multi-chain, which means it creates a brand new path of entry into each Solana and Ethereum.

This multi-chain strategy offers customers entry to Ethereum’s deep liquidity whereas preserving the velocity and low prices that make Solana so interesting. With these improvements, Solaxy is ready to make the Solana community extra scalable, dependable, and prepared for the subsequent wave of initiatives, selecting this blockchain when innovating.

What Is Having a Layer 2 Price? Apparently, Over $1 Billion

Ethereum Layer 2 options have grow to be a significant a part of the blockchain trade, with main initiatives boasting market capitalizations of effectively over $1 billion. Examples embody Mantle ($4.1 billion), Arbitrum ($4 billion), Optimism ($3.3 billion), and Polygon ($1.1 billion). Even newly-released initiatives like Pepe Unchained have crossed the 100 million market cap mark in some unspecified time in the future.

Because the first-ever Layer 2 resolution for Solana, Solaxy is uniquely positioned to comply with of their footsteps. Its multi-chain compatibility with each Solana and Ethereum additional enhances its potential, extending its use case and growing its attraction to each builders and traders.

The $SOLX token presale allows traders to board the practice early and put money into a model new Layer 2 mission earlier than it even involves the market. A current YouTube video from the crypto consultants at 99bitcoins expressed bullish sentiments about Solaxy’s potential. The protection begins on the 5:29 mark within the video under:

How one can Get $SOLX

To get began with the $SOLX token presale, you’ll want a appropriate crypto pockets and a funded stability in one of many supported cryptocurrencies. Customers might want to comply with these easy steps to safe their $SOLX tokens:

1. Join pockets: Hyperlink crypto pockets to the Solaxy presale platform. Guarantee it’s appropriate and prepared for transactions.
2. Fund pockets: Prime up the pockets with $BNB, $ETH, or $SOL—three of essentially the most lively blockchain tokens supported by the presale. Alternatively, customers also can buy $SOLX immediately utilizing a credit score or debit card. Finest Pockets could be pockets to make use of for this.
3. Various – customers can use Finest Pockets for a seamless expertise: to put money into Solaxy from the consolation of their very own pockets, they’ll open Finest Pockets and head to the “Upcoming Tokens” part. Tokens purchased by way of Finest Pockets shall be mechanically credited forward of the official declare date.
4. Buy $SOLX: Customers must determine on the quantity they wish to spend, and buy $SOLX tokens. They’ve the choice to get them outright, or to purchase & stake them on the similar time, leveraging the funds they at the moment have.

Because the altcoin season approaches, traders are turning their consideration to initiatives that enhance on current options and goal for mass adoption.

Solaxy matches the invoice by providing a platform that solves Solana’s present limitations, unlocking the complete potential of dApps constructed on it. With its concentrate on scalability, safety, and decentralization, Solaxy is shaping as much as be one of many extra thrilling initiatives within the crypto area proper now.

traders can maintain updated with Solaxy by becoming a member of its group on Telegram or X.

Go to Solaxy Presale

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