Solana-Based Layer-2 Solaxy Reaches $28M Presale Milestone, Showcases Development Updates
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Solaxy ($SOLX) has smashed past the $28 million mark in its presale, unveiling fresh developer upgrades to mark the milestone.
The latest enhancements include improved transactions per second (tps), enhanced data throughput, and optimized rollup performance – all key steps as Solaxy gears up to elevate Solana’s efficiency as its first Layer-2 chain.
For those looking to grab $SOLX before the current presale stage closes in less than 29 hours, tokens are available for $0.001676 each.
Newly purchased $SOLX tokens can be a passive income generator through Solaxy’s staking protocol, which currently offers a 145% annual percentage yield (APY). Bear in mind that the yield is set dynamically in response to the level of deposits into the staking smart contract.
Solaxy Reveals Two Major Development Updates for March
Upon reaching its latest presale milestone, Solaxy announced a series of upgrades to prepare for the launch of Solana’s first Layer-2 chain.
In a recent X thread, Solaxy revealed the integration of a new sequencer implementation from the Sovereign SDK. This enhancement enables faster transaction confirmations, providing users with quicker feedback on their trades and transfers.
🔥 Solaxy Dev Update 🔥
We’re excited to share some significant updates focused on boosting TPS and data throughout:
🛸 Soft Confirmations 🛸
• Integrated a new sequencer implementation from the Sovereign SDK.
While Solana is already known for its speed, this upgrade allows Solaxy to validate transactions even faster before they’re finalized on Solana’s main network, thereby improving user experience, reducing wait times, and boosting scalability for Solana-based applications.
Solaxy also rolled out key improvements to its rollup performance and bridge UI. The rollup upgrade optimizes caching and reduces data overhead, therebyenhancing transaction processing speeds.
Meanwhile, Solaxy’s partnership with Hyperlane reinforces its bridge setup with improved security that ensures safer and more stable cross-chain transfers, even during testnet phases.
This latest dev update is Solaxy’s second in March, highlighting the team’s ongoing efforts to refine its technology. Earlier this month, they announced progress on wallet support, token launchpad integration, and the bridge UI development in collaboration with Hyperlane.
Does Solana Benefit from a Layer-2 Solution Like Solaxy?
Solana co-founder Anatoly Yakovenko has recently been vocal about his stance that a powerful Layer-1 shouldn’t need a Layer-2 to scale. In his view, chains like Solana – with its fast, low-cost transactions – are better off focusing on improving their core design rather than relying on extra layers.
While Solana’s monolithic architecture is built for speed by combining execution, consensus, and data availability all on-chain, this design has shown cracks during periods of heavy demand. Without an L2 to offload some of the pressure, Solana becomes vulnerable to congestion when transaction volume spikes.
This is where Solaxy steps in with its use case. As Solana’s first Layer-2, Solaxy offers a scalable solution that processes transactions off-chain before finalizing them on Solana’s mainnet. This added buffer will reduce congestion, improve stability, and help Solana deliver a smoother experience without compromising its fast speeds and low fees.
The @solana ecosystem is a powerhouse, and its evolution is striking. Its depth across DeFi, NFTs, gaming, and infrastructure is worth tracking.
So, while Solana’s congestion issues aren’t directly tied to the absence of L2s, solutions like Solaxy could be what Solana needs to improve its long-term reliability.
Solaxy Poised to Elevate Solana in Gaming and DeFi – $SOLX Set for Major Growth
Aside from it being crucial for Solana to become a more dependable blockchain, Solaxy could help Solana expand its presence in gaming and decentralized finance (DeFi).
Since Solaxy processes transactions off-chain at a t faster rate, it could become a prime testing ground for Web3 gaming, where fast in-game crypto transactions are essential. Solana has already made notable progress in gaming, but with Solaxy’s added capabilities, it could capture even more market share.
In DeFi, where Solana is steadily growing, Solaxy’s Layer-2 functionality could further accelerate adoption. Investors continue to seek a chain that can handle financial transactions faster, and Solaxy’s scalability could make that a reality.
Moreover, Solaxy could bridge the DeFi ecosystems of Ethereum and Solana. While Solaxy’s native token, $SOLX, is currently an ERC-20 token, it will soon be available on the Solana blockchain as well, hence why its UI bridge is currently undergoing active development.
By connecting these two major ecosystems, Solaxy’s potential is enormous. This is why influencers and media outlets closely follow the project, with trusted crypto education platform 99Bitcoins even suggesting that $SOLX could achieve a 10x surge.
Such growth isn’t far-fetched given how $SOL itself climbed 27,470.5% from its bottom to its current price – a 275x gain.
Since $SOLX is closely tied to Solana’s ecosystem as its first Layer-2 solution, $SOLX could see similar growth potential if Solana continues to expand and Solaxy successfully enhances the network’s scalability and performance.
Steps to Claim $SOLX Tokens Before Solaxy Launches
The progress Solaxy has made in refining its technology, coupled with its strong funding, brings it closer to launch.
While the official timeline remains undisclosed, investors looking to secure $SOLX during the presale can visit the Solaxy website where they can connect their wallet. Leading noncustodial wallet Best Wallet would be a good choice for contributors to this presale because it enables participants to claim their tokens early.
Best Wallet’s multichain support makes it an ideal platform for $SOLX, available on both Ethereum and Solana. For Best Wallet users, buying $SOLX is seamless and can be executed directly within the app.
Stay connected with the Solaxy community on X and Telegram for updates.
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