Solaxy (SOLX) Launched Its Presale on December 12th, 2024, and Has Already Raised $22.2 Million for Its Upcoming Layer 2 Blockchain

Designed to improve Solana’s scalability, the blockchain will be a complementary yet competitive project, as it could draw liquidity and attention

Solaxy (SOLX), a Layer 2 blockchain designed to improve Solana’s scalability, has begun its presale, aiming to draw liquidity and attention from Solana's mainnet during high-traffic hours.

While Solana (SOL) dropped by 34.86% over the past 30 days, Solaxy is showing no signs of slowing down, as investors rush to add the token to their portfolios ahead of its official DEX listings.

Announced on December 12th, 2024, Solaxy has already raised $22.2 million for its upcoming blockchain. Besides its strong ties to Solana, Solaxy will launch with multi-chain compatibility, allowing investors who prefer Ethereum’s ecosystem to purchase the token.

Although Solaxy has an ambitious goal of joining the market with a fully-developed Layer 2 ecosystem, it’s a meme coin at its core. As such, its short and long-term success largely depends on the strength of its community and investor trust.

To increase its visibility, the project allocated 15% of its total token supply to marketing, which has already helped it attract over 69,900 supporters on X (Twitter) and more than 7,300 on Telegram.

Besides its marketing efforts, the project is featured in Best Wallet’s Upcoming Tokens hub, making the presale easy to access for the wallet’s 250,000+ monthly users.

Previously, Best Wallet saw Pepe Unchained (PEPU), a project that developed a Layer 2 blockchain for Ethereum, raise over $73 million during its presale phase. PEPU saw its price grow by over 700% in the first 48 hours after it was listed on DEXs, paving the way for projects like Solaxy.

Solaxy’s developers allocated another 10% of the total token supply to liquidity to ensure a safer trading environment by reducing the risk of a rug pull and lowering slippage.

Additionally, Coinsult audited the project’s smart contract, confirming there are no risks to investor funds as it found no issues in its code.

Analyzing the project’s tokenomics further shows Solaxy developers set aside 25% of the total token supply for staking rewards. Currently, the project offers an 184% staking APY, which will decrease as investors stake more SOLX, ensuring early backers get the best rewards.

Investors locking their tokens will have the opportunity to unstake them seven days after Solaxy lists on DEXs. With 6.3 billion SOLX already staked, this lock-up system can reduce the token’s volatility as more SOLX are gradually released into circulation.

Expert Expects Solaxy to Soar During the Next Meme Coin Bull Run and Highlights its Generous Staking Rewards

Meme coin analyst ClayBro is impressed with the scope of Solaxy’s project, and he expects its Layer 2 blockchain solution to attract an increasing number of investors to its ecosystem and token during the next bull run.

Solaxy aims to address Solana’s congestion issues by processing transactions off-chain and bundling them for settlement on Solana’s mainnet, which could result in faster transactions and lower gas fees.

With the massive congestion issues that caused some transactions to take days to finalize during the launch of Official Trump (TRUMP), ClayBro believes Solavy could prevent similar bottlenecks during the next meme coin bull run. He advises his audience to enter the presale while the per-token price is low.

Solaxy follows a dynamic pricing model, meaning its per-token price increases each time a funding goal is met or when enough time passes. Currently, SOLX costs $0.00164 each, with its next price increase scheduled in just two days.

Investors can purchase SOLX via the presale website using ETH, SOL, USDC, or a traditional bank card. Alternatively, the presale accepts BNB and USDT payments via Best Wallet’s apps. No minimum investment is required, giving smaller investors and whales an equal opportunity to accumulate Solaxy early.

Those purchasing SOLX via Best Wallet can monitor their token holdings throughout the presale, while users of other wallets will get the opportunity to claim and monitor them after the Token Generation Event (TGE).

Once the presale wraps up and SOLX hits the DEXs, Solaxy will launch its Layer 2 blockchain and allow holders to bridge their tokens to it.

According to the project’s whitepaper, the final presale stage will see SOLX’s per-token price increase to $0.00169, which will be in line with its launch price, leaving investors with limited time to secure their share of the token below that level.