Solaxy Presale to Close in 27 Days with $74M Funding Goal

Solaxy ($SOLX), the token for Solana's first Layer 2 solution, is nearing the end of its presale, having raised nearly $40 million. It aims to raise a total of $74 million to tackle congestion and scalability issues on the Solana network.

Key Features of Solaxy

Utilizes roll-up technology for faster transactions and reduced fees by processing off-chain and validating on-chain.
Designed for high-frequency dApps, including meme coin platforms and gaming.
30% of the total supply (138 billion $SOLX) is allocated for technological development.
Dynamic staking rewards available with current APY around 106%.

Whale Activity

Increased participation from whales noted, with significant purchases recorded:

$200K worth of $SOLX purchased on May 9.
$242K acquired on March 2.
9.7 million tokens bought for $16.5K on March 14.
$400K spent on May 14.

Recent Developments

Launch of Solana Testnet bridge on May 15 for cross-chain interoperability.
New block explorer feature introduced for real-time transaction monitoring.

Investors are advised to conduct thorough research before participating in the presale, as market volatility is a significant factor. Further details can be found in Solaxy’s whitepaper.