Solaxy ($SOLX), a new Layer-2 solution for Solana, has surpassed expectations by raising an impressive $13.6 million in its ICO.
Interest in the project skyrocketed after the launch of Official Trump ($TRUMP) and Official Melania ($MELANIA) meme coins, which brought renewed attention to the network’s scalability challenges.
On Monday, the Solana blockchain experienced severe congestion due to the soaring popularity of $TRUMP and $MELANIA meme coins.
The heightened interest in these tokens caused unprecedented transaction volumes and technical issues for Jito Labs, a key network infrastructure provider.
While the surge has sparked excitement, it has also exposed Solana’s persistent network congestion issues.
The congestion has turned investor attention to Solaxy, Solana’s first Layer-2 solution, which promises to address these scalability challenges.
Initially launched on Ethereum and bridging two of the largest DeFi ecosystems, Solaxy is now open to Solana users, offering cross-chain accessibility and a potential fix to Solana’s growing pains.
The Official Trump ($TRUMP) token took the crypto world by surprise, launching on Solana just ahead of Donald Trump’s inauguration. Initially met with skepticism, its legitimacy was confirmed through posts on Truth Social and Trump’s official X account.
In less than 48 hours, $TRUMP’s trading volume propelled its market cap to $14 billion, placing it among the top 20 cryptocurrencies. Shortly after, Official Melania ($MELANIA) was introduced, further amplifying Solana’s network activity.
However, the overwhelming demand highlighted Solana’s inability to handle the surge, leading many to seek Solaxy as a viable solution.
Solaxy is designed to enhance Solana’s infrastructure, enabling developers to build dApps and launch tokens while improving network capacity and stability.
With $SOLX, Solana can become a more robust platform for trading high-demand tokens like $TRUMP and $MELANIA without buckling under pressure.
Meme coins tied to celebrities are becoming a defining feature of the crypto space, with names like $TRUMP and $MELANIA leading the charge.
Analysts predict that this trend will continue, with more meme coins launching on Solana, further straining its Layer-1 network.
This underscores the need for Solaxy to address scalability issues and unlock Solana’s full potential.
As a Layer-2 enhancement, Solaxy empowers developers to create decentralized applications and launch new tokens without compromising Solana’s Layer-1 performance. Instead, it improves network efficiency, making Solana more resilient during periods of high demand.
With its launch, Solaxy aims to transform Solana into a more robust blockchain, capable of handling surges in activity with reduced risk of transaction failures.
Furthermore, Solaxy positions Solana as a reliable platform for trading meme coins and other high-traffic tokens without the risk of performance bottlenecks.
Crypto influencer ClayBro has also acknowledged the growing impact of the presidential meme coin trend and highlighted how it has driven increased interest in $SOLX, further cementing its importance in addressing Solana’s challenges.
With $13.6 million raised so far, Solaxy’s presale reflects growing confidence in its ability to solve Solana’s most pressing issues.
Layer-2 solutions have already proven their value on Ethereum, with a $15.6 billion market cap across top projects. Solaxy is poised to follow this trajectory, positioning itself as a critical player in Solana’s evolution.
Investors can purchase $SOLX at $0.00161 for a limited time before the price increases in the next funding stage. The token is also featured on Best Wallet, a next-gen crypto wallet known for identifying promising projects.
Join the Solaxy community on X and Telegram to stay updated on its progress.
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