Solaxy Raises $22M in Presale, Aiming to Rival Solana with Layer 2 Blockchain
1min read Solaxy, a new altcoin, has raised $22 million in its presale, aiming to rival Solana with its upcoming Layer 2 blockchain. The project, launched on December 12th, 2024, seeks to improve Solana's scalability and draw liquidity during high-traffic hours. Despite Solana's recent 34.86% drop over the past 30 days, Solaxy has shown strong investor interest, with over 69,900 supporters on X (Twitter) and more than 7,300 on Telegram.
Solaxy's success relies on its community and investor trust. The project has allocated 15% of its total token supply to marketing and is featured in Best Wallet's Upcoming Tokens hub. Previously, Best Wallet saw Pepe Unchained (PEPU) raise over $73 million during its presale phase, with its price growing by over 700% in the first 48 hours after listing on DEXs.
To ensure a safer trading environment, Solaxy has allocated 10% of its total token supply to liquidity. Additionally, Coinsult audited the project's smart contract, confirming there are no risks to investor funds. The project's tokenomics show that 25% of the total token supply is set aside for staking rewards, currently offering an 184% staking APY.
Meme coin analyst ClayBro is impressed with Solaxy's project scope and expects its Layer 2 blockchain solution to attract investors 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.
Solaxy follows a dynamic pricing model, with its per-token price increasing 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, with no minimum investment required. 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.
