🚀 Solaxy: A new project on the Solana network raises 28 million dollars in its initial offering

The Solaxy platform achieved great success in its initial offering, managing to raise approximately 💰 28 million dollars in a short period. This event is a milestone in the decentralized finance (DeFi) space and indicates investor confidence in the project's potential. Solaxy aims to provide Layer 2 solutions on the Solana network with the goal of improving performance and reducing congestion, opening new horizons for decentralized applications (DApps) and developers.

🔍 What is the Solaxy project?

Solaxy is a new project designed to function as a Layer 2 solution on the Solana network, aiming to provide solutions that increase transaction efficiency and reduce the cost and time required to execute operations on the network. The idea of the project is based on improving scalability by executing certain operations off-chain and then recording them later, which helps alleviate pressure on the core Solana network.

❓ Why does Solana need Layer 2 solutions?

Although Solana is known for its high speed ⚡ and low fees 💲 compared to networks like Ethereum, the increased reliance on the network has caused significant congestion that has led to rising costs and delays in some transactions. This is where Solaxy comes in, as it seeks to provide a more efficient system capable of handling a larger number of users and applications without affecting the performance of the core network.

⚙️ How does Solaxy work?

Solaxy relies on a technology known as Rollups, which aggregates a large number of transactions and processes them off the network before recording them on Solana in one batch. This helps reduce the load on the main network and improve its performance. It is expected that this will reduce transaction costs and make Solana more attractive to decentralized application developers.

💬 Reactions and division around the project

Despite the significant success in raising funding, the project has not been without controversy. Anatoly Yakovenko, the founder of Solana, stated that the network does not currently need Layer 2 solutions, pointing out that Solana's first layer already has sufficient scalability. Nevertheless, supporters of Solaxy believe that the innovative solutions it offers will be necessary as the number of users and projects on the network increases.

📈 The impact of Solaxy on the future of Solana

If Solaxy successfully implements its vision, it is expected to have a significant impact on the Solana ecosystem, as it can:

  • ✅ Increase the efficiency and speed of transactions, making Solana a more attractive option for developers and users.

  • ✅ Reduce congestion on the main network, allowing for sustained high performance without technical issues.

  • ✅ Attract more investments to the Solana ecosystem, which could lead to an increase in the price of the SOL cryptocurrency in the long term.

🏁 Conclusion

Solaxy represents an important step in developing the Solana network, providing innovative solutions to improve performance and reduce congestion. Despite the debate over the necessity of Layer 2 solutions for Solana, the significant support received by the project in the initial offering indicates investor interest in developing the infrastructure for decentralized networks. The question remains: Will Solaxy succeed in implementing its vision and achieve the desired benefits, or will it face challenges that may affect its adoption by the Solana community? 🤔


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