The Solana meme coin ecosystem is headed toward new heights, and meme coins seeing 2x weekly gains is becoming a new normal.
But as this explosive chapter unfolds, a new breakthrough in network infrastructure is emerging.
Solaxy ($SOLX) is building the world’s first Solana layer 2 blockchain, aiming to eradicate the network’s congestion issue while making transactions cheaper, faster, and more reliable.
It’s tipped to become one of Solana’s biggest gainers after its presale smashed the $35 million raised mark this week, making it the most successful Solana presale in history.
The presale allows investors to buy in from the ground floor, and they’re scrambling to get involved. The $35 million total raise reflects immense market appeal, which is partly why the project is backed for up to 100x gains once it lists on the open market.
Currently, investors can buy $SOLX at a discounted presale price of $0.001724, but this will rise throughout the ICO, with the next uptick in under two days.
Will Solaxy be Solana’s new home of meme coins?
Solana is one of the leading blockchains by virtually all metrics. But it’s no secret that a lot of its demand derives from meme coin trading.
Over 78 million people have used the network this month, and according to CoinMarketCap data, the top seven top-performing ecosystem tokens are meme coins or meme coin-related projects. Leading the way is the new meme coin launchpad token Launch Coin, which has seen a jaw-dropping 6,918% gain this week.
The reason Solana is popular for meme coin trading is because of its seamless user experience. The Phantom wallet is easy to use, and the Solana network offers low fees and high speeds.
But it’s not perfect. In periods of peak network activity, Solana’s transactional capabilities can be breached. This usually happens when there’s a sudden spike in transaction volume due to a high-profile token launch or drastic change in prices.
The result is network congestion. Transaction wait times increase, and failure rates rise. Put differently, Solana goes dark when it’s needed the most.
Enter Solaxy: it’s like Solana but with higher scalability.
It’ll make trading even more seamless. Users can access the network from their Solana wallets, so getting started is frictionless – and they’ll never have to worry about congestion issues. It’s a setup that’s well positioned for Solana’s next era of memetic trading activity.
Best of both worlds: Solana L1 settlement and 10,000 TPS
Solaxy isn’t the first project scaling Solana, but it’s the first to offer layer 1 settlement.
Solayer is another prominent Solana scalability solution. It’s a Solana sidechain that offers faster and cheaper throughput. But the difference between Solayer and Solaxy is that Solayer doesn’t offer Solana’s security guarantee.
Solayer’s settlement occurs directly on the sidechain, but the Solayer sidechain is unproven compared to Solana, thus making it inherently more risky.
In comparison, Solaxy offers 10,000 transactions per second (almost 2x higher than Solana) but will also report transactions back to Solana layer 1 for finality. This means that Solaxy transactions benefit from the same security and permanency as transacting directly on layer 1, while also being much cheaper and faster.
The project has received a smart contract audit from Coinsult, which found no issues with its code safe. This is yet another testament to Solaxy’s security.
All of this is drawing serious interest from top analysts, with Cryptonews saying $SOLX has 100x potential.
Meanwhile, ClayBro noted that a whale recently invested $200,000 in the project, reflecting that sophisticated traders are also bullish.
How to buy $SOLX presale
The Solaxy presale is available to buy on both the Solana and Ethereum blockchains, providing a deeper liquidity pool which strengthens the project’s ability to attract investment.
To buy the presale, simply visit the Solaxy website, connect your wallet, choose the amount of tokens you want to buy, and the crypto you want to pay with.
With a use case that could reshape Solana’s meme coin ecosystem, Solaxy’s discounted presale price may mark a once-in-a-cycle opportunity. However, the price will rise throughout the campaign, so potential investors shouldn’t wait to get involved.
Follow Solaxy on X or join its Telegram for updates. Alternatively, visit its website to buy tokens.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.