Solana Layer-2 ‘Solaxy’ Approaches $29 Million Raised in New Token Presale – Is It the Best Cryptocurrency to Invest in Now?
Solaxy ($SOLX) Smashes $28.5 Million Presale Mark, Unveils Upgrades
Solaxy ($SOLX) has surpassed the $28.5 million mark in its presale, revealing new developer upgrades to celebrate the milestone.
The latest enhancements include improved transactions per second (tps), enhanced data throughput, and optimized rollup performance – all crucial steps as Solaxy prepares to elevate Solana’s efficiency as its first Layer-2 chain.
For those interested in purchasing $SOLX before the current presale stage ends in less than 29 hours, tokens are available for $0.001676 each.
Newly acquired $SOLX tokens can generate passive income through Solaxy’s staking protocol, which currently offers a 145% annual percentage yield (APY). Please note that the yield is dynamically set based on the level of deposits into the staking smart contract.
Upon reaching its latest presale milestone, Solaxy announced a series of upgrades in preparation for the launch of Solana’s first Layer-2 chain.
In a recent thread, Solaxy disclosed the integration of a new sequencer implementation from the Sovereign SDK. This enhancement enables faster transaction confirmations, providing users with quicker feedback on their trades and transfers.
Solaxy Dev Update
We’re excited to share some significant updates focused on boosting TPS and data throughout:
• Integrated a new sequencer implementation from the Sovereign SDK.
• Enjoy faster confirmations as transactions are quickly…
While Solana is renowned for its speed, this upgrade allows Solaxy to validate transactions even faster before they’re finalized on Solana’s main network, thereby enhancing user experience, reducing wait times, and improving scalability for Solana-based applications.
Solaxy has also implemented key improvements to its rollup performance and bridge UI. The rollup upgrade optimizes caching and reduces data overhead, thus enhancing transaction processing speeds.
Furthermore, Solaxy’s partnership with Hyperlane strengthens its bridge setup with improved security, ensuring safer and more stable cross-chain transfers, even during testnet phases.
This latest dev update is Solaxy’s second in March, highlighting the team’s continuous efforts to refine its technology. Earlier this month, they announced progress on wallet support, token launchpad integration, and bridge UI development in collaboration with Hyperlane.
Solana co-founder Anatoly Yakovenko has recently expressed his belief that a powerful Layer-1 should not require a Layer-2 for scalability. According to him, chains like Solana, with their fast and low-cost transactions, should focus on improving their core design rather than relying on additional layers.
While Solana’s monolithic architecture is designed for speed by combining execution, consensus, and data availability all on-chain, this design has shown weaknesses during periods of high demand. Without an L2 to alleviate some of the pressure, Solana becomes susceptible to congestion when transaction volume spikes.
This is where Solaxy steps in with its use case. As Solana’s first Layer-2, Solaxy offers a scalable solution that processes transactions off-chain before finalizing them on Solana’s mainnet. This additional buffer will reduce congestion, enhance stability, and help Solana provide a smoother experience without compromising its fast speeds and low fees.
The Solana ecosystem is a powerhouse, and its evolution is remarkable. Its depth across DeFi, NFTs, gaming, and infrastructure is worth monitoring.
DeFi standouts: @orca_soleads DEXes with a user-friendly AMM and deep liquidity, @Raydium_iointegrates trading with AMM pools…
So, while Solana’s congestion issues are not directly related to the absence of L2s, solutions like Solaxy could be what Solana needs to enhance its long-term reliability.
Aside from being crucial for Solana to become a more dependable blockchain, Solaxy could help expand Solana’s presence in gaming and decentralized finance (DeFi).
Since Solaxy processes transactions off-chain at a faster rate, it could become an ideal testing ground for Web3 gaming, where fast in-game crypto transactions are vital. Solana has already made significant progress in gaming, but with Solaxy’s added capabilities, it could capture even more market share.
In DeFi, where Solana is steadily growing, Solaxy’s Layer-2 functionality could further accelerate adoption. Investors are continuously seeking a chain that can handle financial transactions faster, and Solaxy’s scalability could make that a reality.
Moreover, Solaxy could bridge the DeFi ecosystems of Ethereum and Solana. While Solaxy’s native token, $SOLX, is currently an ERC-20 token, it will soon be available on the Solana blockchain as well, which is why its UI bridge is currently undergoing active development.
By connecting these two major ecosystems, Solaxy’s potential is enormous. This is why influencers and media outlets closely follow the project, with trusted crypto education platform 99Bitcoins even suggesting that $SOLX could achieve a 10x surge.
Such growth is not far-fetched, considering that $SOL itself has climbed 27,470.5% from its bottom to its current price – a 275x gain.
Since $SOLX is closely tied to Solana’s ecosystem as its first Layer-2 solution, $SOLX could have similar growth potential if Solana continues to expand and if Solaxy successfully enhances the network’s scalability and performance.
The progress Solaxy has made in refining its technology, along with its strong funding, brings it closer to launch.
While the official timeline is undisclosed, investors looking to secure $SOLX during the presale can visit the Solaxy website, where they can connect their wallet. Leading noncustodial wallet Best Wallet would be a good choice for contributors to this presale because it enables participants to claim their tokens early.
Best Wallet’s multichain support makes it an ideal platform for $SOLX, available on both Ethereum and Solana. For Best Wallet users, buying $SOLX is seamless and can be executed directly within the app.
Stay connected with the Solaxy community on X and Telegram for updates.
For more details, visit the Solaxy website.