The Solaxy ($SOLX) presale has raised nearly $5 million in just a week as investors pour funds into the Solana layer 2 project.
The rise of meme coins and the huge demand that the Solana token has experienced as a result has severely congested the network. Solaxy aims to solve these issues via its offline transaction bundling mechanism.
Solaxy Solves Solana’s Congestion Issues Instantly
The Solana mainnet has received attention lately from media outlets but not of the good kind.
The network has faced episodes of significant congestion and traders have been angered by the situation as it delays transaction settling that may translate into financial losses.
Two factors have contributed to increase the volume of transactions processed by the Solana blockchain. The first is high-frequency trading (HFT) of the Solana token and others that are supported by the mainnet.
In addition, the significant interest that investors have shown for meme coins has stressed-test the network as well as trading volumes have skyrocketed as demand for these assets continues to increase.
Congestion is a tricky issue to resolve for smart contracts networks and this is the reason why Solaxy has so much potential. A layer-two protocol will immediately alleviate the mainnet by bundling transactions offline to reduce the number of requests processed by nodes.
One way to explain what Solaxy does is to compare the blockchain to a freeway. The Solana mainnet is a 6-lane freeway that takes on, processes, and settles all transactions and records them in the main ledger.
The higher the number of cars (transactions), the more congested the freeway will be. What Solaxy does is reduce the number of cars by bundling multiple transactions in a single block.
According to the Solaxy whitepaper helps restore the network’s reliability and execution speed and results in a lower number of failed transactions – especially during peak times.
The investment’s community interest in the $SOLX presale indicates that there are enough merits to believe that the Solaxy protocol can live up to its promises.
Early Backers are Rewarded with Access to Low-Priced $SOLX Tokens
The SOLX token’s practical utility is quite obvious. Every transaction that the protocol processes will have to pay a small L2 network fee in $SOLX.
Hence, this digital asset comes to act as the engine of the entire project as it facilitates transactions, provides developers with access to key features, and even gives them a say over governance issues.
Raising $4.6 million in just 7 days is a remarkable achievement for any nascent crypto project. It means that investors have poured an average of $650,000 every day into the $SOLX presale.
The price of each token is currently set at $0.00157 and they can be bought by converting ETH or USDT or by using a bank card.
However, that price won’t last long as the project developing team is determined to reward early backers by increasing the price of each available batch once the previous one is fully allocated or the offer reaches its expiration date.
Moreover, once the presale has finished and the funding target is reached, the Solaxy roadmap includes securing listing on major centralized exchanges to boost the liquidity and accessibility of $SOLX.
In addition, the total supply of $SOLX is capped at 138,046,000,000 tokens. The scarcity factor will play in favor of $SOLX’s potential price appreciation as the price will rise as demand grows.
Still, with over 952 million tokens already locked up, it’s clear that early investors are confident in Solaxy’s prospects.
Solaxy’s appealing staking rewards have also favored the presale of $SOLX as investors can enjoy an 831% yield at the moment in exchange for taking the initial risk of backing a nascent project.
The project’s website indicates that over 1.38 billion tokens have been staked as of today as investors are committed to the success of this layer-two network.
Prominent figures in the crypto community have already gone through the project’s coding and value proposition and have concluded that Solaxy can provide a significant boost to the Solana ecosystem.
Reviewers from 99Bitcoins are among those who have discussed the merits of the project. They claim that speeding up transactions and solving congestion issues will make the Solana mainnet more reliable, efficient, and appealing to developers.
In addition, they see the potential for huge gains for $SOLX and anticipate the token could experience a 10X increase after it is listed.
This channel’s review had a tremendous impact on the public’s awareness of Solaxy as it boasts 719,000 subscribers who follow it to get recommendations about the most promising projects in the crypto space.
If Solaxy rides this wave of positive momentum to the end, it will reshape the Solana blockchain entirely.
Visit Solaxy Presale
This is a sponsored story. Please conduct your own due diligence and make an informed decision before taking any action. Bitcoin.com accepts no responsibility or liability.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
