New Solana Layer-2 Scaling Solution Solaxy Raises $8.9m in Presale Funding
The milestone comes as Solana struggles with transaction failures – with data showing that, on some days, over one-third of non-vote transactions fail to be completed.Solana’s increased adoption has introduced notable challenges.
A key feature of Solaxy is its ability to keep the network running smoothly, even during heavy traffic. According to the project’sThese are two of the biggest sources of strain on Solana. Ultimately, it’s about ensuring Solana can handle whatever the market throws at it.ecosystem is SOLX, the project’s native utility token. Beyond its role in facilitating network functions, SOLX is integral to governance and staking within the ecosystem.have raised over $8.9 million to date. Priced at $0.
10% of the total supply is set aside for exchange listings after the presale, while 30% will go toward ongoing network development.
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