Emily Walker
In less than a week since its presale started, Solaxy has achieved remarkable growth for its native token, raising an impressive $2.85M after an initial $350K within the first 24 hours.
Solaxy aims to enhance the Solana platform by creating a Layer 2 protocol that leverages Solana’s strengths while addressing its weaknesses. This initiative has sparked significant interest among crypto investors.
Solana has experienced high transaction volumes, primarily driven by meme coins, leading to some operational challenges, including congestion and failed transactions, as noted by DappRadar.
This is particularly beneficial for investors focusing on meme coins, as Solana is a popular platform for their launch and trading. However, the potential benefits extend beyond just Solana.
Solaxy serves as a multi-chain solution, bridging Ethereum and Solana, thereby combining the liquidity and security benefits inherent in Ethereum’s DeFi ecosystem.
Ethereum is significantly linked with DeFi, boasting a total value locked of $131.42B, while Solana stands as the second-largest player in this space with $14.33B. This essential synergy is a key driver for investors eager to acquire $SOLX, as the future of DeFi looks promising.
The Rapid Success of Solaxy’s Presale
Initially priced at $0.001, the $SOLX presale has quickly surged to $0.00157 within a week, with staking rewards projected at an impressive annual rate of 1,239% given the total token supply of 138,046B.
The next phase of pricing starts in under 10 hours, and the total raised is anticipated to reach $3.132M.
Regarding $SOLX’s token distribution, 30% is earmarked for developing the crucial Layer 2 ecosystem. Another 25% is allocated for early investor rewards, while the remaining funds are distributed among the project’s treasury (20%), marketing efforts (15%), and securing listings on decentralized (DEX) and centralized exchanges (10%).
How to Purchase $SOLX
You can buy $SOLX using $ETH, $USDT, credit or debit cards, and $BNB; however, note that using $BNB will forfeit annual staking rewards.
If opting for card payments, ensure to link your credit card to a crypto wallet first. The Solaxy site recommends downloading the Best Wallet app for investors without a crypto wallet.
The Best Wallet app offers a secure, free solution with lower transaction fees and is a non-custodial wallet that gives users complete control over their assets, unlike many wallets linked to centralized platforms.