New Solana Layer 2 Solaxy ICO Raises $750,000 in First 72 Hours

The new Solana Layer 2 ICO Solaxy ($SOLX) exploded upon launch, surpassing $750,000 in funds raised in its first 72 hours alone.

Solaxy is the first-ever Solana Layer 2 protocol, and investors strongly support the idea of ​​a Solana token that removes the issues of congestion, transaction failures, and scalability limitations.

$SOLX is in the fifth stage of its presale, priced at $0.00156. The initial presale offer price was $0.001. The next price stage begins when the fundraising total reaches $860,311, at which point the price increases to $0.001562.

Presale buyers should act quickly to get the lowest prices. They can also take advantage of token staking to earn 2,778% rewards annually. The yield is calculated dynamically and therefore decreases as more $SOLX is deposited into the staking contract. As of press time, $414,097 SOLX has already been staked.

Solaxy token presale offers a fix for Solana, a victim of its own success

In many ways, Solana has become a victim of her own success. In 2024, Solana has become the platform of choice for launching meme coins due to its superior architecture to Ethereum in terms of transaction throughput and lower costs – Solana is faster and cheaper than Ethereum.

Still, Solana has run into issues as thousands of meme coins are launched on the channel every day, thanks to the success of no-code launchers like Pump.fun.

Solaxy doesn’t just solve Solana’s problems; it is a multi-chain beast that connects Ethereum and Solana, the two most powerful and popular blockchains in the crypto industry.

As the first Solana Layer 2 in existence, the Solaxy token is well ahead of the curve. Solaxy chose Solana because it recognizes its robust power and seeks to unlock its full potential.

Multi-chain SOLX brings the best of Solana and Ethereum

Solaxy doesn’t just build another application on top of Solana; The Solaxy token is a completely new application layer for Solana, with the added benefit of not only faster speeds and lower fees, but also the ability to leverage the liquidity and security of the Ethereum ecosystem Challenge.

In a nutshell, Solaxy takes what’s best about Solana and improves it in ways never seen before. Ethereum is the undisputed main trading rail of the crypto world, commanding by far the largest number of DeFi and other commercial activities.

The native token of the Solaxy network – $SOLX – is multi-chain, so it attracts activity and buyers from the Ethereum and Solana chains and a path of entry into both blockchain ecosystems. There is nothing else like $SOLX on the market today.

Layer 2s have grown in importance on Ethereum despite the upgrades developers have implemented since the move from proof-of-work to proof-of-stake.

However, the changes have yet to have a substantial impact on scaling. However, successive improvements have now made it easier to create layer 2s on Ethereum, which has had a negative effect on layer 1 by reducing its fee revenue.

While far from being the “Ethereum killer” some might have hoped for, Solana has nonetheless made impressive progress amid Ethereum’s scale and cost issues. Yet, as mentioned, Solana also has its own problems.

The scourge of spam transactions Solana and Solaxy offer a fix

Congestion is the biggest performance issue Solana faces, and it takes many forms. Issuing meme coins is the main culprit, leading to an increase in so-called spam transactions.

Spam trades are often sent by bots attempting to access blocks through the shortest queues, with the majority of trades remaining unexecuted.

Meme Coins are responsible for most of this spam, but there has also been spam associated with apps like ORE – a game that mimics proof-of-work mining to send airdrops. At one point this year, 16% of the Solana network was used by ORE players.

Failed transactions are also a huge problem. Up to 25% of transactions fail on the Solana network. At one point, up to 70% of non-voting transactions were failing.

Solana developers are working on fixes. The QUIC protocol, for example, has improved reliability and Jump Crypto’s upcoming Firedancer upgrade promises to significantly improve real-world transactions per second.

However, as with Ethereum, these changes will not negate the need for Layer 2s. Rather, they focus attention on Layer 2s as a more immediate and reliable way to implement scaling solutions – all roads lead to Solaxy.

Solaxy Token: Potentially the Next Billion-Dollar Layer 2 and a Bridge to the Future of DeFi

Ethereum Layer 2s are a big deal. The major Ethereum Layer 2s all have market caps above $1 billion, such as Mantle ($4.1 billion), Arbiturm ($4 billion), Optimism ($3.3 billion), and Polygon ($1.0 billion). 1 billion dollars).

Solaxy’s market-leading position as the only Solana Layer 2 makes it well-positioned to be the next billion-dollar market cap Layer 2, but with multi-chain compatibility between Solana and Ethereum, extending and amplifying thus its proposed use case.

In this sense, Solaxy is not just a bridge between the two most valuable layer 1 blockchains – it is a bridge to the future of DeFi, where the deep liquidity of Ethereum meets the speed and profitability of Solana Layer 2 of Solaxy.

The $SOLX token presale allows interested parties to purchase today before the asset begins trading on the open market.

The latest YouTube video from the crypto expert from highly regarded crypto news and education site 99bitcoins is bullish on Solaxy. You can find Solaxy’s cover at 5:29 in the video below:

Here’s How to Buy $SOLX Token in the Solaxy Crypto Presale

To purchase $SOLX token, connect your crypto wallet and make sure it is funded with BNB, ETH or SOL. These three tokens are the native assets of the three most active chains in the crypto world.

Presale backers can also purchase $SOLX token with a card or in the “Upcoming Tokens” section of the innovative and easy-to-use Web3 crypto wallet, Best Wallet. If you purchase using Best Wallet, your tokens will appear in the wallet before the official claim date/time.

As altcoin season approaches, savvy investors are looking for coins that provide incremental value by improving existing products and aiming for mass adoption.

Solaxy perfectly meets these expectations by providing developers and users with a platform to leverage Solana’s strengths while overcoming its limitations.

Thanks to Solaxy, the holy grail of solving the cryptographic trilemma by simultaneously ensuring blockchain security, scalability, and decentralization is arguably now upon us.

Solaxy makes it easy to build, deploy, and interact with decentralized applications without compromising performance, which could make it one of the best value propositions in crypto today.

Stay informed of Solaxy news by joining its community on Telegram or X.

Visit the Solaxy crypto presale site