#ReboundRally $SOL

Solaxy’s presale ($SOLX) has raised nearly $5 million in just a week as investors pour funds into the Solana layer-2 project.

The rise of meme coins and the resulting massive demand for Solana tokens has slowed down the network significantly. Solaxy aims to solve this issue through an offline transaction batching mechanism.

Solaxy Instantly Solve Solana’s Congestion Problem

Solana’s mainnet has recently gained media attention but not in a positive way.

The network has experienced a significant congestion episode and traders are upset about the situation as it hampers transaction setups that could lead to financial losses.

Two factors have contributed to the increased volume of transactions processed by the Solana blockchain. The first is high-frequency trading (HFT) of Solana tokens and others supported by the mainnet.

Additionally, the significant interest shown by investors in meme coins has tested the resilience of the network even as trading volumes have soared as demand for these assets continues to rise.

Congestion is a tricky problem for smart contract networks to solve and this is why Solaxy has so much potential. The layer-two protocol will soon ease the mainnet by batching offline transactions to reduce the number of requests processed by nodes.

One way to explain what Solaxy does is to compare the blockchain to a toll road. The Solana mainnet is a 6-lane toll road that receives, processes, and settles all transactions and records them in a central ledger.

The higher the number of cars (transactions), the more congested the toll road becomes. What Solaxy does is reduce the number of cars by batching multiple transactions into a single block.