Solanax is a new DeFi protocol built on top of the Solana network that will catapult Decentralized Finances to unprecedented performance levels. As a decentralized and non-custodial automated pool-based liquidity mechanism supporting trades within the Solana ecosystem, Solanax is looking to revolutionize DeFi. The Ethereum main-net proof-of-work (PoW) consensus design flaws are no longer news, as they have stifled Ethereum's growth for a long time. For example, Ethereum's 15 transactions per second are far too sluggish, resulting in record-high transaction fees.
Its trustless token swaps, trading, and more significantly reorientation of the crypto world towards Solana. Solanax is destined to become a vital asset exchange community platform.
SOLANAX does not have an order book because we remove all intermediaries, complexity, and time-consuming procedures from the equation, giving users the freedom to trade without fear of censorship or losing ownership of their assets.
In summary, Solanax has the following features:
Users have complete control
Next-level liquidity
Friction-less yield
Light-speed swaps
DeFi is faster, cheaper, and more powerful.
The project's goals
- Utilize a blockchain to bring DeFi even closer to people, hence allowing it to scale even better.
- Make financial tools more accessible to the general public.
- Make it faster to cut cost on gas fee, hence cheaper
- Build an interface that allows people to create a comfortable trading environment (limit orders; alerts; and more).
- A central order book provides liquidity access across the ecosystem, so individuals are not reliant on a single source of liquidity.
Incentives for early adopters
The first beneficiary of the project is early adopters, who will be rewarded with platform incentives, with 40% of their total token supply allotted to them. The platform does not charge any fees. Stakeholders of the $SOLD Token will get all swap trading fees (0.2 percent from the maker and 0.3 percent from the taker). So, as expected, a large community popped up around Solanax on Sunday as soon as private sales were revealed!
Why Solana?
Solana blockchain has increasingly become the blockchain of choice for newly launched projects. As such, the company has re-evaluated its strategies and now expanding its capacity to accommodate the rising demand for faster blockchain services. The blockchain aims to be the go-to network for decentralised applications, that's according to sources at Solana. Over time, it's looking to effectively compete or even surpass the market leader, Ethereum.
Solana blockchain uses a new method of verifying transactions, proof of history (PoH), to solve the scalability and speed issues that have been problematic to its predecessors, Bitcoin and Ethereum. Scalability is one of the most challenging aspects of blockchain technology to overcome. As these networks expand, they frequently encounter transaction speed and confirmation time constraints, which consequently leads to a high cost of transactions. Through PoH, Solana can handle thousands of transactions per second, with significantly cheaper transaction fees. Solana attempts to achieve these by maintaining security and decentralization.
The Significance of Solana to DeFi Projects
DeFi technologies are meant to increase financial access to the increasingly capitalistic society. These technologies will continue to improve the lives of many people on the other side of the world who previously lacked access to financial instruments that would have allowed them to compete in a capitalistic world. Investing in a future where everyone is more equal is a no-brainer.
We believe that Solana will be a significant player in the crypto space. A vast percentage of people are still unaware of the Solana blockchain. On the other hand, the team behind Solana is discreetly warping the crypto environment with new financial possibilities. Solana has piqued our interest, and we've collected a group of crypto professionals from around the world to collaborate on the Solanax Project. The Bunker of Global Decentralized Finance.
SOLDonomics
Total Supply: 80 000 000 SOLD Tokens
Private Sale: Total available supply - 10,000,000 SOLD
Period: 06/06/2021 - 25/06/2021
Token price - 0.1 USD with 3months vesting period;
Token price - 0.15 USD w/o vesting period;
Initial Exchange Offering: Total available supply - 10,000,000 SOLD
Round 1: 28/06/2021 - 05/07/2021 | 0.20 USD | Available supply: 5,000,000 SOLD
Round 2: 08/07/2021 - 13/07/2021 | 0.25 USD | Available supply: 3,000,000 SOLD
Round 3: 16/07/2021 - 19/07/2021 | 0.30 USD | Available supply: 2,000,000 SOLD
Source:-https://cryptonews.com/news/solanax-fastest-decentralized-exchange-built-on-solana-block-10615.htm
