Solaxy (SOLX) Raises $28M in Presale, Aiming to Be the Arbitrum of Solana

Solana has exploded in popularity over the past year — but it still hasn't shaken off one major problem: congestion.

In the dynamic sphere of cryptocurrency, innovation is an ongoing endeavor, and within the realm of layer 2 scaling solutions, there is a new project that is making waves with its unique approach to enhancing the Solana blockchain.

While projects like Arbitrum and Optimism have taken aim at scaling Ethereum, a leading smart contract chain, Solana has yet to see the emergence of a comprehensive layer 2 solution.

Enter Solaxy (SOLX), a project that is aiming to do for Solana what Arbitrum did for Ethereum.

A Deep Dive into Solaxy: Boosting Solana’s Scalability

Solaxy is a layer 2 scaling solution that uses rollup technology to take some of the pressure off Solana’s main chain.

Essentially, Solaxy processes transactions offchain, bundles them together, and submits a compressed proof of those transactions to Solana for final settlement. This allows for faster and cheaper transactions without sacrificing security.

To visualize this, imagine redirecting highway traffic through a hidden fast lane, which in this case is used to quickly process transactions.

After the traffic is cleared, a final summary is sent back to the main highway, which is Solana’s mainnet.

This becomes a major advantage during periods of network strain, such as a memecoin launch, where there is a surge in activity.

Furthermore, Solaxy offers a range of features designed to attract users and developers, including interoperability with Ethereum, minimal transaction fees, and support for decentralized applications (dapps).

These factors, combined with its role in facilitating Solana’s growth, could make Solaxy a valuable addition to any crypto portfolio.

SOLX Token: The Heart of Solaxy’s Ecosystem

At the heart of Solaxy lies its native token, SOLX, which is used for transaction fees, cross-chain swaps, and staking rewards, with APYs starting at 144%.

While these yields will decrease over time as the presale progresses, the high initial rates are a significant draw for early investors.

Earlier this year, Solaxy’s presale has quickly gained momentum, raising over $28 million ahead of its planned launch later in 2025.

A key driver of this success is the project’s tokenomics, which see the price of SOLX increase incrementally throughout the presale.

This structure rewards early buyers, who secure the token at a lower price.

In addition to its technical aspects, Solaxy has also generated buzz among crypto influencers, further amplifying its presence online.

Influencers like Crypto Wire, ClayBro, and Myles G have expressed their bullish views on SOLX, with Myles G going as far as to predict a 100x return for the token.

Despite varying opinions on the magnitude of potential gains, the fact that multiple influencers are discussing the project highlights the level of attention that Solaxy has managed to attract.

Solana Set for Growth as Analysts See 1200% Gains From Now

In the present market landscape, analysts are setting price targets for Solana as high as $300, or even $500 if a spot SOL ETF is approved by the U.S. Securities and Exchange Commission.

Despite its significant growth over the past year, Solana is still known for encountering congestion issues during periods of heightened activity.

As the number of users continues to rise, so too will the amount of traffic on the network, presenting a challenge that could hinder performance.

However, this is where Solaxy comes into the picture. With its scalable layer 2 experience, Solaxy is well-positioned to absorb the pressure of increased user activity and ensure smooth operation of the network.

Ultimately, this could make a significant difference in determining which blockchain ecosystems thrive in the long term.

By offering an environment that can handle surges in demand, Solaxy might just be the project that helps Solana reach new heights in the coming years.