Solaxy ($SOLX) has secured over $16 million in funding to tackle Solana’s growing network congestion issues.

Frequent network slowdowns and disruptions during peak usage periods have exposed vulnerabilities, raising concerns about Solana’s ability to sustain high-performance applications.

To address these challenges, Solaxy is developing a Layer-2 solution aimed at reducing congestion, minimizing transaction failures, and enhancing overall network stability.

https://x.com/SOLAXYTOKEN/status/1883923468137165020

By optimizing scalability, Solaxy seeks to ensure Solana remains fast, efficient, and capable of supporting long-term growth.

Meanwhile, $SOLX is available at a presale price of $0.001618. Investors and blockchain enthusiasts monitoring off-chain transaction solutions are following the token’s progress, with its next scheduled price increase set to occur in less than 24 hours.

Solana’s Network Congestion and Solaxy’s Layer-2 Solution

Early 2024 marked a turning point for Solana as the network struggled with severe congestion amid a surge in crypto activity. Transaction failures and delays exceeded 75%, frustrating users and raising concerns about Solana’s status as a leading Layer-1 blockchain.

The issue became more pronounced following the debuts of $TRUMP and $MELANIA, which further strained the network.

75% of Solana Transactions Are Failing as Bots Dominate Swap CountThe Solana blockchain is experiencing a high rate of failed transactions amid massive trading volumes that has led to network congestion. Read more: https://t.co/1IyudTmy3w pic.twitter.com/Ocuuraa44Z

— Laura Shin (@laurashin) April 5, 2024 To address these challenges, Solaxy is introducing a Layer-2 solution designed to enhance Solana’s performance by reducing congestion and transaction failures during peak times.

This approach leverages off-chain processing, where multiple transactions are bundled together before being submitted to Solana’s main network as a single, consolidated operation.

By substantially reducing the main network’s workload, Solaxy ensures faster and more reliable transactions, even during high-traffic periods. Inspired by successful Ethereum scaling solutions such as Arbitrum and Base, Solaxy tailors its Layer-2 system specifically to Solana’s needs.

Unlike short-term congestion relief solutions, Solaxy is designed to scale with the network as user demand increases, particularly in high-volume activities like meme coin trading and decentralized finance (DeFi) applications.

In addition to improving transaction success rates, Solaxy introduces staking opportunities for $SOLX token holders. Participants can earn rewards while contributing to network security, reinforcing the platform’s role in maintaining efficiency and reliability across the Solana ecosystem.

The $16 Million Investment & How to Buy $SOLX

Solaxy’s $16 million funding signals strong investor confidence in its ability to tackle Solana’s network congestion. This investment reflects a broader industry shift toward prioritizing blockchain infrastructure over speculative tokens, highlighting the growing demand for scalable solutions.

The funds will drive development in key areas, including refining consensus mechanisms to improve transaction efficiency and enhancing network storage to equip developers with better tools for decentralized applications (dApps).

These upgrades will strengthen Solana’s capacity to manage congestion, positioning Solaxy as a crucial player in its scalability efforts.

As institutional investment increasingly favors functional blockchain infrastructure, Solaxy is rising as a key driver of Solana’s long-term growth. With its focus on sustainability and efficiency, the project is shaping the next phase of blockchain adoption.

Users can purchase $SOLX by visiting the Solaxy website and connecting a multichain-compatible wallet, such as Best Wallet, which supports both Solana and Ethereum transactions.

For updates and community discussions, users can join Solaxy’s official channels on X and Telegram.

Vist Solaxy Presale Here

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