Solana Layer-2 Project Solaxy Nears $3M Milestone in First Week of Token Presale

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Jakarta, Indonesia, December 19th, 2024, Chainwire

With Solana facing growing congestion challenges, a new Layer-2 scaling solution is beginning to draw investor attention.

Solaxy (SOLX), aiming to become Solana’s first Layer-2 protocol, has raised almost $3 million in its ongoing token presale event.

SOLX Token Presale – Price Stages and Staking Rewards

Since going live, the Solaxy presale has passed through multiple price stages. SOLX tokens are currently priced at $0.00157 each, although each new funding milestone triggers a slight price increase.

For those looking to participate, the presale accepts ETH and USDT payments, with credit/debit card options for those new to crypto. Additionally, presale buyers can stake their SOLX tokens for potential rewards. The project will disburse staking rewards over a three-year period.

Blockchain security firm Coinsult has also audited the SOLX smart contract. Their audit found no issues or vulnerabilities with the token’s code.

Though Solaxy has yet to announce the final presale price and launch date, interested investors can follow its development through its X (formerly Twitter) and Telegram channels. The team posts regular updates on the project’s progress and presale milestones.

How Solaxy Solves Network Congestion Through Layer-2 Technology

Solaxy aims to tackle one of Solana’s biggest pain points: network congestion. The protocol works by moving transactions off the main Solana chain and processing them on a dedicated Layer-2 network – reducing the load on Solana’s infrastructure.

This approach employs a rollup architecture that bundles multiple transactions together before settling them back on Solana’s mainnet. The aim is to allow for higher transaction throughput.

Solaxy also emphasizes interoperability. It’s designed to bridge the gap between Solana and Ethereum, allowing users to move assets between the two blockchains. Solaxy’s team hopes this will open up possibilities for cross-chain applications and DeFi integrations.

The project has already caught the attention of several crypto commentators. For example, the team at 99Bitcoins recently released a video discussing Solaxy, breaking down its approach to solving Solana’s scalability challenges.

About Solaxy (SOLX)

Solaxy is developing a Layer-2 scaling protocol for the Solana blockchain to reduce congestion and prevent failed transactions. Its native token, SOLX, will power transactions on the network.

Users can visit the Solaxy presale here.