Solaxy Launches Presale For First Solana Layer 2 Blockchain, Raises $1.1M in Past 24 Hours
The new Solana layer 2 blockchain Solaxy ($SOL) It raised $1.1 million in the past 24 hours, bringing its total funding to $1.7 million.
Pre-sales started just five days ago, showing strong investor interest in this new project.
The current purchase price is $0.001566, but the price will increase during the ICO. The next increase will occur within 48 hours.
Buyers can use ETH, USDT, and BNB to participate in the pre-sale. Pre-sale investors can maximize their profit potential by staking their tokens. Currently, the annual interest rate for staking is 1,901%.
Solaxy helps Solana escape inevitable bottlenecks
Solana is a victim of its own success. By becoming the largest and most active blockchain, the project has solved major scalability issues in a self-propagating way.
Although Solana is capable of processing 6,500 transactions per second, regulators expect the number of daily active users to be 4 million or more. Its transaction throughput was quickly gobbled up, causing users to wait longer for transactions to finalize, pay higher fees, and sometimes even get them rejected.
Solaxy’s layer 2 blockchain solves this problem, bundling off-chain transactions and reporting them to Solana for a secure and decentralized end result.
But it doesn’t stop there. Solaxy is a multi-chain giant. While solving the scalability issues that arose on Solana, Solaxy also leverages the Ethereum network.
As the first Solana layer 2 blockchain, Solaxy is way ahead of the curve.
Connecting two leading blockchain ecosystems
Solana leads in terms of users and on-chain activity, while Ethereum leads in terms of value. Sorasi Both benefit.
While transactions are packaged and processed faster for Solana, Solaxy also benefits from Ethereum’s DeFi infrastructure, a combination with huge potential.
In short, Solaxy takes what’s good about Solana and amplifies it: the ability to meet large volumes of demand. Now, Solana will be able to facilitate transaction volumes that we have never seen on a blockchain before.
Meanwhile, the $SOLX token is a multi-chain token that can be used on Ethereum and Solana. The Ethereum network still leads in terms of liquidity, so $SOLX has access to a large pool of investors.
Up to 25% of transactions on Solana fail
As discussed, Solana’s position at the forefront of cryptocurrency adoption means it is facing the industry’s technical issues.
Network congestion and transaction failures are major issues. Meme coins and gaming related apps are the main culprits of high volume, most of which are usually spam.
This can lead to high congestion and eventually transaction failure. Up to 25% of transactions on the Solana chain fail.
The team is working on a solution. For example, the QUIC protocol improves network reliability and Jump Crypto promises to increase real-world transactions per second.
But that doesn’t negate the need for a second layer of blockchain. Instead, it highlighted Solana’s need for solutions to continue growing – which led to Solaxy.
Solaxy could be the next billion-dollar Layer 2 blockchain
The Ethereum layer 2 world is extremely valuable. In terms of market capitalization, Polygon leads the way with its two tokens valued at $5.5 billion, with Mantle in second place at $3.9 billion and Optimism close behind at $3.1 billion.
But by opening up Ethereum liquidity to the first Solana layer 2 blockchain, this could very well be the opportunity to push Solaxy to $1 billion and beyond.
It’s clear that early investors expected this to happen – Solaxy pre-sales are growing at a respectable rate.
After raising $600,000 in its first four days, pre-sale funding surged by $1.1 million in the past 24 hours. Not only does this confirm its massive market appeal, it also injects a sense of urgency into those who haven’t bought in yet, knowing that their chance to be an early contributor is quickly disappearing.
How to buy $SOLX during the presale
Investors can participate $SOLX Presale Via the project’s website, or using the Best Wallet app’s upcoming token feature.
Those who purchased through Best Wallet will also be able to view their tokens before the presale ends and track key updates to the app.
As the crypto bull market advances, crypto networks like Solana are facing new problems brought on by unprecedented levels of activity.
Solaxy is a response to the changing encryption landscape, allowing Solana to not only serve specific purposes but also scale to new applications and utilities.
