The Solana ecosystem is thriving right now, and Solaxy ($SOLX) is no exception. It’s the first-ever layer 2 blockchain – and it’s just broken a new record. Solaxy is undergoing a presale and has just become the first Solana ICO in history to raise $30 million, having hit the milestone on Monday. This comes when the broader Solana ecosystem is booming, with $SOL gaining 30% this week, Raydium up 37%, Helium 68%, and Fartcoin 82%.
It’s good news for Solana investors, but with a utility that could revolutionize the Solana blockchain, Solaxy might just give the biggest gains in the months ahead. You can buy $SOLX at a presale price of $0.001694, but this price will rise throughout the ICO, with the next increase in one day.
Solving Solana’s congestion issue with rollup technology
The main reason Solaxy is under development is to tackle Solana’s pressing congestion issue. Some readers may be surprised to learn that Solana struggles to serve its transactional demand. After all, the network is capable of 6,500 transactions per second.
However, sudden surges in transaction volume, such as when Donald Trump launched his meme coin on the network, create major congestion issues. Transaction wait times extend, and many transactions fail.
This can be the difference between huge profits and devastating losses for traders with leveraged positions or those holding volatile tokens. And in the past month, Solana’s on-chain activity has skyrocketed again, with 74 million active users. This indicates that congestion will soon become a talking point once again.
For Solana to continue growing, a new scalability solution is required. Therefore, Solaxy could offer a huge benefit to the Solana ecosystem. Its layer 2 blockchain will handle some of Solana’s workload but will use rollup technology to offer more scalability.
This will make Solaxy faster, cheaper, and more reliable than Solana. And at the same time, Solaxy will report transactions back to Solana for finality, which will ensure Solana’s security and permanence. It’s the best of both worlds.
Because of this, the project is generating significant attention. Top analysts are singing its praises, with Borch Crypto even saying $SOLX could 50x in a recent video.
It’s also worth noting that the $SOLX token holds crucial utilities, including staking, governance, and paying transaction fees. Staking is live in the presale and currently offering a 135% APY. However, this will decrease as the staking pool grows.
Solana ecosystem leads on-chain flows – $SOLX set to boom
Solana is regaining its position as the market’s leading blockchain. DeFiLlama data reveals that the Solana network is leading the way regarding capital inflows this week.
Its total value locked (TVL) has increased by 8.4%, more than Bitcoin, Etheruem, BNB, Tron, and Base. When factoring in the price growth of Solana-based assets, it’s clear that something is brewing inside the ecosystem.
However, Solaxy might just be about to change Solana forever.
Introducing heightened transactional capabilities will attract both users and developers to the Solaxy layer 2. This could mark an existential shift in the Solana layer 1’s purpose, transitioning from a monolithic layer to a finality layer, with the bulk of ecosystem activity taking place on the layer 2 network.
However, Solaxy doesn’t just aim to accommodate the current activity on Solana; it wants to unlock new use cases and applications. So given Solaxy’s current early stage and the disruptive impact it could make on the $69 billion Solana blockchain, it’s clear that the project has substantial growth potential.
However, with price hikes hardwired into the presale, prospective investors should not wait around to get involved. And rest assured that the project is safe and secure. It has received a smart contract audit from blockchain security firm Coinsult, which found no issues with its code.
Stay updated on the latest Solaxy news and developments by following its X or joining its Telegram channel. Alternatively, visit its website to buy and stake tokens.
