Solaxy (SOLX) Crosses the $25 Million Mark in Its Presale, Moving Against the Downtrend Affecting Major Cryptocurrencies

The new Layer-2 project is catching the interest of investors looking for solutions to Solana's scalability challenges.

New Layer-2 project Solaxy (SOLX) has now raised over $25 million for its presale, cutting through the downtrend affecting major cryptocurrencies.

Solaxy is highlighting solutions to Solana’s scalability challenges, a factor that has attracted interest to the project.

Despite launching in mid-December, Solaxy’s presale has continued to pick up steam.

Investors can still grab SOLX, the project’s native token, for $0.001654 during the presale. Most presales set fixed end dates or hard caps, but Solaxy’s team is taking a more flexible approach. They plan to list SOLX on a decentralized exchange once the fundraising phase ends.

Early investors can buy SOLX using crypto or a credit/debit card. There’s also the option to buy SOLX through the Best Wallet mobile app – making access straightforward for smartphone users.

Behind the scenes, Solaxy’s team has structured the project’s tokenomics to support post-presale growth. They’ve set aside 10% of the supply for exchange liquidity and 15% for ongoing marketing efforts.

This clear tokenomics structure has resonated well with the community. Solaxy’s X (Twitter) and Telegram channels have seen strong growth recently, and the SOLX token is now ranked on CoinSniper.net.

Solaxy is positioning itself as the first dedicated Layer-2 solution for Solana. The project aims to solve real infrastructure challenges facing the Solana network while maintaining a meme-style vibe throughout.

Solaxy processes transactions off the main Solana chain by bundling them together and settling them in batches. This approach reduces congestion during high-traffic periods – an issue that has challenged Solana during meme coin trading frenzies.

Another key aspect of Solaxy is its cross-chain functionality. The team is building a bridge between Solana and Ethereum, combining the former’s speed with the latter’s established DeFi ecosystem.

For developers, this means more flexibility to build scalable dApps without being confined by one blockchain’s limitations. The SOLX token will power Solaxy’s entire ecosystem. It will be used to pay gas fees, enable governance voting, and access staking rewards.

These staking rewards are already live, with estimated returns of 164% per year. Early investors have already locked up over seven billion SOLX, with rewards distributed over three years after Solaxy’s presale ends.

This combination of Layer-2 scalability, cross-chain compatibility, and staking incentives helps explain the early interest in Solaxy’s presale. Can Solaxy solve Solana’s scalability issues when it launches?

The Layer-2 space remains one of crypto’s biggest sectors in early 2025, with projects like Arbitrum and Optimism passing $1.5 billion valuations. Their popularity makes sense – Layer-1 networks tend to struggle with congestion when trading activity spikes, as it did in January.

Solana has been hit particularly hard. Transaction failure rates soared during the TRUMP meme coin launch, which drove up gas fees and left many traders unable to complete their trades.

That’s where Solaxy comes in, as it will be aiming to tackle this pain point head-on. Plus, VanEck predicts Solana’s smart contract market share will climb from 15% to 22% by the end of the year, which could make Solaxy’s use case even more valuable.

As it stands, Solaxy’s team hasn’t yet revealed when the Layer-2 will launch, yet most community members expect it to happen in Q2 of this year. It remains to be seen whether Solaxy can deliver on its early promise - but the $25 million presale raise suggests investors see real potential in the project.