Solanax is a new DeFi protocol built on top of the Solana network that will catapult decentralized finances to unprecedented performance levels.
As a decentralized and non-custodial automated pool-based liquidity mechanism supporting trades within the Solana ecosystem, Solanax is looking to revolutionize DeFi.
The Ethereum (ETH) main-net proof-of-work (PoW) consensus design flaws are no longer news, as they have stifled ETHs growth for a long time. For example, ETH’s 15 transactions per second are far too sluggish, resulting in record-high transaction fees.
Its trustless token swaps, trading, and more significantly reorientation of the cryptocurrency world towards Solana. Solanax is destined to become a vital asset exchange community platform.
Solanax will 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.
In summary, Solanax has the following features:
- Users have complete control
- Next-level liquidity
- Friction-less yield
- Light-speed swaps
- DeFi is faster, cheaper, and more powerful.
The project’s goals
Companies are always on the lookout for open source liquidity and DeFi protocols that offer competitive interest rates. It is an element of their fund strategy for their clients.
Solanax strives to be the most widely used open-source liquidity and DeFi protocol for fund businesses, as well as a reliable and secure ETH-Solana and even more than a three-way bridge. When new projects of this nature are announced, people are always delighted.
- Utilize a blockchain to bring DeFi even closer to people, hence allowing it to scale even better.
- 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).
- A central order book provides liquidity access across the ecosystem, so individuals are not reliant on a single source of liquidity.
Incentives for early adopters
The first beneficiary of the project is early adopters, who will be rewarded with platform incentives, with 40% of their total token supply allotted to them. The platform does not charge any fees.
Stakeholders of the sold token will get all swap trading fees (0.2% from the maker and 0.3% from the taker). So, as expected, a large community popped up around Solanax on Sunday as soon as private sales were revealed.
Why Solana?
Solana blockchain has increasingly become the blockchain of choice for newly launched projects. As such, the company has re-evaluated its strategies and now expanding its capacity to accommodate the rising demand for faster blockchain services.
The blockchain aims to be the go-to network for decentralized applications, according to sources at Solana. Over time, it’s looking to effectively compete or even surpass the market leader, ETH.
Solana blockchain uses a new method of verifying transactions, proof of history (PoH), to solve the scalability and speed issues that have been problematic to its predecessors, Bitcoin (BTC) and ETH. Scalability 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. Through PoH, Solana can handle thousands of transactions per second, with significantly cheaper transaction fees. Solana attempts to achieve these by maintaining security and decentralization.
The Significance of Solana to DeFi Projects
DeFi technologies are meant to increase financial access to the increasingly capitalistic society. These technologies will continue to improve the lives of many people on the other side of the world who previously lacked access to financial instruments that would have allowed them to compete in a capitalistic world.
Investing in a future where everyone is more equal is a no-brainer. Solana will be a significant player in the cryptocurrency 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 cryptocurrency environment with new financial possibilities.
Sold-onomics
- Total Supply: 80 000 000 sold tokens
- Private Sale: Total available supply – 10,000,000 sold
- Period: June 6, 2021 – June 25, 2021
- Token price – $0.1 with a 3months vesting period
- Token price – $0.15 w/o vesting period
- Initial Exchange Offering: total available supply – 10,000,000 sold
- Round 1: June 28, 2021 – July 5, 2021 | $0.20 | Available supply: 5,000,000 sold
- Round 2: July 8, 2021 – July 13, 2021 | $0.25 | Available supply: 3,000,000 sold
- Round 3: July 16, 2021 – July 19, 2021 | $0.30 | Available supply: 2,000,000 sold
Visit the website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale.
Users can participate in this private sale by emailing the team at [email protected]
For more information visit the website
See more information on Twitter
Read the white paper
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
