Place/Date: – June 14th, 2021 at 2:14 pm UTC · 3 min read
Solanax, a Solana-based DeFi protocol is currently conducting a private token sale that ends on the 25th of June. They are also aiming to proceed with an initial exchange offering (IEO) that is set to commence on the 28th of June.
Solanax went live recently with their automated market maker (AMM) and decentralized exchange (DEX) platform on the Solana Blockchain. Regarding the launch, the team said:
“SOLANAX are attempting to eliminate centralized intermediaries and pave the way for full decentralization, censorship-resistant, and safe trading within the Solana ecosystem and beyond.”
Solanax is a decentralized exchange built on top of the Solana blockchain that leverages the exciting features of the fastest-growing blockchain. The project resolves a long-standing problem with scalability and transaction throughput in DEXes, driving the adoption of DeFi products and services.
Solanax also allows peers on the Solana blockchain and beyond to trade directly between themselves without intermediaries through self-custody or non-custodial wallets.
$SOLD Token Distribution
Solanax will distribute at least 20 million $SOLD tokens before getting listed on a centralized exchange. The project currently offers crypto enthusiasts and investors a chance to get a hold of their native token through their private sale which ends on the 28th of June. In this sale, Solanax is offering 10 million tokens at $0.1 per token, considering a three-month vesting period, or $0.15 per token without a vesting period. The private sale aims to raise at least $1 million. To be a part of the private sale and to get a hold on the tokens, contact Solanax’s sales team.
In the subsequent IEO that launches on June 28th, another 10 million $SOLD tokens will be distributed in multiple rounds with a target of at least $2 million from the offering. The private sale and IEO will distribute a combined 25% of the total tokens.
Solanax is unlike any other DEX in the crypto space. The protocol’s versatility powered by Solana builds a trader-first DEX design, where trading features are optimized for investors to buy, sell and transfer crypto assets seamlessly. Solanax is the ultimate CEX-killer, offering at-par if not better features that traders look out for in a crypto exchange.
Listed below are some of the notable features/experiences that set Solanax apart:
- Hassle-free trading with high liquidity across Solanax, as investors are incentivized to provide liquidity to low-volume assets while maintaining high liquidity in popular assets.
- Rapid and seamless transaction settlement powered by Solana’s high transaction throughput.
- Very low transaction fees for swapping SPL tokens.
- Open-source Liq and DeFi protocol. There are several ways people will be able to earn rewards.
- Plans for cross-blockchain Bridge implementation via Wormhole / Binance Bridge / Solanax Token Converter
- Runs on the more powerful and highly scalable Solana blockchain.
- Fully decentralized, censorship-resistant with a secure hybrid consensus model
Apart from the aforementioned features, the platform will offer unmatched flexibility for traders to access digital assets on the Ethereum blockchain. In this ecosystem, developers can convert ERC-20 tokens into SPL tokens compatible with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.
The team has reserved 40% of the 80 million total supply of $SOLD for platform incentives. These include staking and liquidity mining rewards. Solanax DEX also has a farming platform where traders can stake LP tokens and earn farming rewards. The aim is to increase use cases and incentives on the platform to make this ecosystem a community-based decentralized exchange. To be a part of the community while the project is in the early stages, be a part of the IEO and the private sale using the information given below.
Contact: Website, Twitter, Telegram.