The Solana Layer-2 project Solaxy ($SOLX) is approaching the end of its token presale, scheduled to close on June 16, 2025. The presale has already raised nearly $50 million, with $1 million gained overnight just days before the deadline. The token, priced at $0.001756 during presale, has seen substantial market enthusiasm and is poised to begin trading on major centralized exchanges shortly after the presale ends.
Solaxy promises to revolutionize the Solana ecosystem by launching a Layer-2 network aimed at resolving congestion and transaction failure issues on Solana's base layer. By offloading significant transaction volume from the mainnet onto its own faster, lower-cost sidechain, Solaxy is expected to capture a substantial share of Solana's meme coin trading and dApp activity.
In a significant move to enhance token scarcity, Solaxy has executed a $62 million token burn, removing 25% of the total supply from circulation. The project’s strategic partnership with Hyperlane enables seamless cross-chain interoperability between Solana, Solaxy, and Ethereum, facilitating smooth token flows and dApp interactions across ecosystems.
Unlike many projects, Solaxy is set to launch its mainnet nearly simultaneously with the $SOLX token listing, increasing immediate utility and ecosystem engagement for early backers. Additionally, the project offers an 85% dynamic APY staking mechanism to incentivize token holders and has initiated a $25,000 bug bounty to ensure network security.
With a capped supply, strong presale funding, cross-chain features, and immediate network launch, $SOLX is gaining attention as a major new entrant in the blockchain space, with analysts forecasting potential price multiples shortly after exchange listings.