Solaxy Layer-2 Mainnet Launch: $SOLX Token Drops 23% After Deployment

Solaxy officially launched its Layer-2 blockchain, cross-chain bridge, and block explorer on July 7, 2025, at 14:00 UTC. Built on Solana, Solaxy uses an optimistic rollup to process transactions off-chain and settle them on Solana Layer-1. The crypto project is designed to reduce congestion while supporting Solana-native dApps through the Solana Virtual Machine, with zkVM integration also in place (currently inactive).

Solaxy’s bridge, powered by Hyperlane, enables direct transfers between Ethereum, Solana, and Solaxy, supporting $SOLX, $SOL , and ERC-20 tokens. Its block explorer provides real-time access to transactions, blocks, and smart contract activity on the Solaxy Layer-2.
The crypto project previously raised over $58 million through a $SOLX crypto token presale. Following the mainnet launch, the $SOLX token price dropped from $0.0013 to $0.0010, a 23% decline, before recovering to $0.00117 (still down 10% from pre-launch).
No downtime or confirmed technical issues were reported. The team now shifts focus to upcoming launches of its native DEX (Neptoon) and launchpad (Igniter).

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