Solaxy, the Solana-based Layer 2 scaling solution has seen its presale hit $26 million

Solaxy, the Solana-based Layer 2 scaling solution has seen its presale hit $26 million

Solaxy, the Solana-based Layer 2 scaling solution, has seen its presale hit $26 million, and there is great excitement around it ahead of anticipated exchange listings. The protocol achieves faster transaction speeds and at lower fees by batching transactions in smaller bundles. Solaxy transactions are processed off-chain , reducing congestion and improving throughput. This is the same model used by successful L2 solutions like Arbitrum and Optimism.

What Makes Solaxy Stand Out?

The Solaxy architecture is optimised for high volume transactions across Decentralised Financed (DeFi), GameFi and NFT ecosystems. Also, it ensures that security isn’t compromised by relaying the final transaction tranches on Solana’s layer 1 blockchain.

Furthermore, it has undergone a security audit by Coinsult, ensuring that it is above board and protected from honeypot risks. A honeypot is a scam where investors are lured into supporting crypto projects that ultimately leads to their funds being locked up and inaccessible.

The crypto market is increasingly drifting towards utility-based assets and Solaxy’s developers will need to reach out to DeFi projects to create traction for the coin upon exchange listing.

How to Earn From Solaxy

Solaxy is currently going for $0.001668 per coin in the presale, with upwards price adjustments after every stage. That means early investors have the upper hand, as they will buy when Solaxy price is comparatively lower.

Users can increase their earnings by staking the purchased SOLX tokens. Staked Solaxy currently earn at an Annual Percentage Yield (APY) rate of 151%, but that rate will likely come down as more investors stake their assets.