Despite being launched less than 3 weeks ago, Solaxy (SOLX), the first layer-2 solution project on the Solana blockchain, has already raised a significant amount of funding, amounting to $8.4 million. A whale (large investor) bought a whopping $158,000 worth of SOLX tokens during the first hours of New Year’s Eve UTC, indicating the interest of large investors in this innovative project. This is due to its attractiveness and the various functional uses it offers for its base token (SOLX). The token is currently being sold at a fixed discounted price of just $0.00159 during the current offering phase, which is set to rise by the time the new phase begins in a few hours.
Therefore, those interested in participating may have to move quickly to ensure that they achieve the highest investment gains expected from the project’s currency, especially since its team plans to list it on major platforms soon, which may push its price significantly higher compared to its current value.
In addition to the planned gradual price increases during the offering, early investors will be guaranteed the highest possible staking yields currently available during the early stages of the offering. According to data from the staking interface, early investors have staked over 2.4 billion SOLX tokens so far, rushing to take advantage of the currently high 468% Annual Staking Yield (APY), which is expected to decrease as the number of participants in the staking pool increases. So, those interested should hurry up and make the most of the most popular Solana-based meme coin offering currently.
Only Solaxy can fuel the growth of the Solana-based meme coin class:
Despite the risks associated with their volatile nature, meme coins are one of the most exciting sectors of crypto. Just yesterday, the meme coin sector saw a 9% growth, three times the 3.2% increase seen by the entire cryptocurrency market. Looking specifically at meme coins built on the Solana blockchain, their market cap rose 14.3% in the last 24 hours, reaching $21.3 billion out of the total meme coin market cap of $117 billion.
With the increase in meme coin activity in general and Solana-based in particular, Solaxy investors are looking to its new Layer 2 (L2) solution to address Solana’s chronic transaction congestion. Designed to ease the burden of processing data on Solana’s Layer 1 transaction network by moving a large amount of data to a separate Layer 2 and processing it in batches before sending it back to the main transaction network for settlement, Solana’s blockchain can scale without compromising on security and efficiency. Along with providing a direct connection between the Solana and Ethereum blockchains, its Layer 2 solution aims to combine the liquidity and security benefits of Ethereum with Solana’s ability to complete transactions quickly and cheaply.
In short, SOLX dual compatibility provides an improved technical system for DeFi and opens up new horizons for meme coin trading, so this innovative project has exciting attractions that are likely to capture the attention of all investors - both individual and institutional - upon its launch.
Crypto Influencers Continue to Praise Solaxy Project:
Although SOLX’s IPO has yet to complete its third week, industry influencers like StockInvestor and ClayBro are already excited about the project and its future prospects, noting that its innovative approach could help the Solana blockchain prepare for the next phase of the meme coin and DeFi boom, and the news around it has already attracted around 54,000 followers on social media.
To participate in this promising project, interested parties can purchase SOLX by visiting the Solaxy.io homepage or via the “Upcoming Coins” section available through the fast-growing Web3 wallet Best Wallet.
As this innovative layer 2 solution seeks to address one of the most significant bottlenecks in one of the fastest growing blockchain networks, the project has tremendous potential for long-term growth, especially since the proceeds of the offering will be used to develop the project’s products and marketing. For the latest updates on the project, join its community on X and Telegram.