A new DeFi protocol, Solanax, is being launched to propel the decentralized financial industry. Built on top of the Solana network, Solanax is expected to change the way peer-to-peer transaction performances within the decentralized network. The decentralized and non-custodial automated pool-based liquidity mechanism is expected to support trades within the Solana ecosystem.
The Solanax team chose to work with Solana Network, which is trying to solve the perennial problem associated with the Ethereum main-net proof-of-work (PoW) consensus design flaws. Ethereum has proven to be slow and expensive, as the high gas fee makes it difficult for people to transact on the network. For example, Ethereum’s 15 transactions per second are far too sluggish. The slow speed correspondingly leads to high transaction fees. Solana’s trustless token swaps, trading, and more significantly reorientation of the crypto world is what makes the network more powerful.
Solanax is destined to become a vital asset exchange community platform hosted on the Solana Network. SOLANAX does not have an order book because we remove all intermediaries, complexity, and time-consuming procedures from the equation, giving users the freedom to trade without fear of censorship or losing ownership of their assets.
Solanax useful features can be summarized as follows:
- Users have complete control
- Next-level liquidity
- Friction-less yield
- Light-speed swaps
- DeFi is faster, cheaper, and more powerful.
The Solanax Project Goals
- Bring DeFi even closer to people with the help of Blockchain, thus solve the scalability issues
- Make financial tools more accessible to the general public.
- Make it faster to cut cost on gas fee, hence cheaper
- Build an interface that allows people to create a comfortable trading environment (limit orders; alerts; and more).
- Provide a central order book to increase access to liquidity across the ecosystem so that individuals are not reliant on a single source of liquidity.
Incentives for early adopters
Solanax is poised to reward its early adopters massively. The first investors will be rewarded with platform incentives, with 40% of their total token supply allotted to them. Moreover, the platform does not charge any fees. Stakeholders of the $SOLD token will get all swap trading fees (0.2 percent from the maker and 0.3 percent from the taker).
As expected, we experienced a huge interest in Solanax as more community of crypto enthusiasts popped up on Sunday as soon as information went round that a private sale was on!
Solana blockchain is becoming the blockchain of choice for newly launched DeFi projects. No one can question the astronomical growth of DeFi in recent months. Therefore, Solana has re-evaluated its strategies and now expanding its capacity to accommodate the rising demand for faster blockchain services that would ensure DeFi projects find a home on a platform that takes care of their needs. Sources at Solana reveal that they aim to be the go-to network for decentralized applications.
With these strategic positioning, we expect Solana to give older counterparts like Ethereum a run for their money in the next few years.
Solana blockchain uses proof of history (PoH), which is a new method of verifying transactions to solve the scalability and speed issues. It’s important to note that the issues of speed and scalability have been significantly slowed down the success of Bitcoin and Ethereum blockchain networks. This is mostly true with scalability, which is one of the most challenging aspects of blockchain technology to overcome.
As these networks expand, they frequently encounter transaction speed and confirmation time constraints, which consequently leads to a high cost of transactions. Solana’s PoH is expected to support thousands of transactions per second, with significantly cheaper transaction/gas fees. Solana attempts to achieve these by maintaining security and decentralization, something that most of its predecessors haven’t managed to achieve.
The Significance of Salana to DeFi Projects
DeFi was designed to facilitate financial access to the masses who have traditionally suffered financial exclusion. The technology is expected to continue improving the lives of these people by giving them more financial access to enable them to compete with the rest of the world.
We believe that by adopting Solana, we’ll be a significant player in the crypto space. A vast percentage of people are still unaware of the Solana blockchain. On the other hand, the team behind Solana is discreetly warping the crypto environment with new financial possibilities. Solana has piqued our interest, and we’ve collected a group of crypto professionals from around the world to collaborate on the Solanax Project. The Bunker of Global Decentralized Finance.
Total Supply: 80,000,000 SOLD Tokens
- Total available supply – 10,000,000 SOLD
- Period: 06/06/2021 – 25/06/2021
- Token price – $0.1 with 3months vesting period;
- Token price – $0.15 w/o vesting period;
Initial Exchange Offering: Total available supply – 10,000,000 SOLD
- Round 1: 28/06/2021 – 05/07/2021 | $0.20 | Available supply: 5,000,000 SOLD
- Round 2: 08/07/2021 – 13/07/2021 | $0.25 | Available supply: 3,000,000 SOLD
- Round 3: 16/07/2021 – 19/07/2021 | $0.30 | Available supply: 2,000,000 SOLD
Check out our website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale.