Solaxy Raises $5M to Build Solana's First Layer-2 Solution for Meme Coins

Just four days after hitting the $4M milestone, new presale project Solaxy (SOLX) reached $5M. Ten days is an astonishing pace to raise millions in funding.

Solana’s first Layer-2 solution, Solaxy (SOLX), has hit $5 million in presale funding ten days after launching.

Solana’s network performance has suffered this year due to the massive user interest in the meme coin sector. Anyone can launch a meme coin on Solana with no coding skills, thanks to pump.fun.

But this year’s pump and dump coins also had a negative side. The network became congested, leading to failed transactions and traders losing their “degen priority.”

Solaxy steps in to resolve these congestion issues with its Layer-2 technology, enabling faster, smoother, and cheaper transfers on Solana.

Solana founder Anatoly Yakovlenko previously stated that Layer-2s are parasitic when they take away more resources from the base layer than they contribute, like in the case of Ethereum.

However, Solaxy aims to build upon Solana’s strengths, merging them with Ethereum’s liquidity and security, to create a high-performance network for degen traders. A network that would accommodate the ever-growing transaction volumes.

Solana Memes, Layer-2s, and a New Bull Cycle Star

Solana’s presale kicked off on December 14 and raised $1 million in three days. The project’s X account is nearing 20K followers, and ClayBro has highlighted Solaxy’s potential.

It’s still early to tell if SOLX will follow in the footsteps of top Solana meme coins like BONK and PENGU, but the community interest is evident from the $5 million raised. Most of which will go toward product development and marketing to expand the project’s reach.

A significant 25% of the total token supply is allocated for staking rewards, and early adopters have already staked over 1.5B SOLX at a 755% APY.

The presale will conclude in early 2025, but the SOLX price will increase gradually every couple of days. This means SOLX may never cost as little as now, just $0.001578 per token.

After the token claim, we expect to see SOLX on tier-1 DEXs and CEXs. To clarify: no listings are confirmed yet. However, it wouldn’t be a surprise to see the likes of Uniswap and Binance endorse a project with such strong utility and community support.

Be the First to Explore Solaxy

Solana’s first Layer-2 solution, Solaxy (SOLX), has hit $5 million in presale funding ten days after launching.

Solana’s network performance has suffered this year due to the massive user interest in the meme coin sector. Anyone can launch a meme coin on Solana with no coding skills, thanks to pump.fun.

But this year’s pump and dump coins also had a negative side. The network became congested, leading to failed transactions and traders losing their “degen priority.”

Solaxy steps in to resolve these congestion issues with its Layer-2 technology, enabling faster, smoother, and cheaper transfers on Solana.

Solana founder Anatoly Yakovlenko previously stated that Layer-2s are parasitic when they take away more resources from the base layer than they contribute, like in the case of Ethereum.

However, Solaxy aims to build upon Solana’s strengths, merging them with Ethereum’s liquidity and security, to create a high-performance network for degen traders. A network that would accommodate the ever-growing transaction volumes.

Solana Memes, Layer-2s, and a New Bull Cycle Star

Solana’s presale kicked off on December 14 and raised $1 million in three days. The project’s X account is nearing 20K followers, and ClayBro has highlighted Solaxy’s potential.

It’s still early to tell if SOLX will follow in the footsteps of top Solana meme coins like BONK and PENGU, but the community interest is evident from the $5 million raised. Most of which will go toward product development and marketing to expand the project’s reach.

A significant 25% of the total token supply is allocated for staking rewards, and early adopters have already staked over 1.5B SOLX at a 755% APY.

The presale will conclude in early 2025, but the SOLX price will increase gradually every couple of days. This means SOLX may never cost as little as now, just $0.001578 per token.

After the token claim, we expect to see SOLX on tier-1 DEXs and CEXs. To clarify: no listings are confirmed yet. However, it wouldn’t be a stretch to assume the likes of Uniswap and Binance will endorse a project with such strong utility and community support.

Be the First to Explore Solaxy

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