With nearly $2 million raised since the start of April, the Solaxy (SOLX) presale has now crossed $30 million as the launch of its Layer 2 blockchain for Solana approaches.
Let’s explore what Solaxy offers and why investors have pumped such a huge amount into this exciting project.
Solaxy’s Layer-2 to Boost Solana Ecosystem
Although Solana has already gained fame for its speed, its Layer 1 experienced significant congestion-related issues in late January. That underscored Solana’s need for a reliable scalability-boosting upgrade.
Solaxy is now preparing to deliver the much-needed scalability boost to Solana with the release of its Layer 2 blockchain. Leveraging rollups, Solaxy aims to bundle and process transactions off-chain, taking the burden off Solana’s mainnet. It could result in faster transactions that aren’t as prone to failure and lower gas fees.
Additionally, the transactions would still finalize on Solana’s main network. That means users won’t lose the benefits of the chain’s robust security and transparency.
The release of Solaxy’s Layer 2 solution is certainly excellent news for those who prefer Solana’s ecosystem. Its developers have also revealed they’re working on a token launchpad and cross-chain swaps between Base, Solana, and Ethereum.
By bridging Solana and Ethereum, Solaxy will allow developers to work on scalable dApps without limiting to a single blockchain. Plus, combining Solana’s speed and Ethereum’s vast liquidity and DeFi ecosystem could unlock new innovative possibilities across both ecosystems.
According to the project’s roadmap, the launch of the Solaxy Layer 2 will follow SOLX’s first DEX listings. Those are just around the corner since the presale is approaching its final stage.
Experts Highlight SOLX’s 50X Potential
Although its upcoming ecosystem sets it apart from most tokens, Solaxy is a meme coin first. That means its early success could largely depend on the strength of its community.
Solaxy’s Pepe-inspired mascot and marketing efforts, fueled by 15% of the total token supply, have helped it attract over 85,700 followers across X (Twitter) and Telegram since its inception in December.
Experts from 99Bitcoins, a YouTube channel with over 725,000 subscribers, commended its community-first approach and highlighted Solaxy’s impressive engagement. They expect the token to only grow its visibility post-launch.
Plus, they’re confident that Solaxy is preparing to enter the market at a perfect time. That’s because Solana shows signs of recovery after a prolonged dip that started in late January.
The experts reminded their audience that the SOLX per-token price will only increase throughout the presale. It follows a dynamic pricing model, and crypto-enthusiasts should enter the presale while the entry point is low.
Expecting Solaxy to soar by 50x once it hits the DEXs, 99Bitcoins’ Umar Khan believes SOLX will outperform most Solana-based tokens post-launch if it maintains its early presale momentum.
Here’s How to Enter the Presale
According to the project’s whitepaper, investors will have a chance to purchase Solaxy at a discount until it reaches $0.00179 in its final stage, which will be in line with its launch price.
Investors can currently purchase SOLX using ETH, BNB, USDT, or a traditional bank card via the presale website. Alternatively, the token is featured in Best Wallet’s “Upcoming Tokens” section, which also accepts BNB as a payment method.
Previously, Best Wallet featured Pepe Unchained (PEPU), a project that released a Layer 2 solution for Ethereum and skyrocketed by over 700% in the first 48 hours of its launch, paving the way for projects like Solaxy that could match or surpass its success.
SOLX leaves no room for security concerns either, as the project’s developers set aside 10% of the total token supply for liquidity, which fosters a safer trading environment and reduces the risk of a rug pull. Plus, Coinsult audited the project’s smart contract, finding no underlying issues in its code.
Purchasing SOLX during the presale also allows investors to more than double their token holdings long-term, as the project currently offers a 135% staking APY.
However, the yield will decrease as more tokens are staked, ensuring early backers benefit the most, making this the perfect time to enter the presale.
