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What happened?
Solaxy, a Layer-2 blockchain solution for Solana, has achieved over $28 million in its presale. Alongside this milestone, Solaxy introduced developer upgrades to enhance transaction speeds and scalability, including a new sequencer from the Sovereign SDK. The updates aim to alleviate network congestion and improve user experience on Solana.
Who does this affect?
The enhancements affect developers and users within the Solana ecosystem, particularly those engaged in decentralized finance (DeFi) and gaming. Investors interested in participating in the presale stand to benefit from potential gains associated with the $SOLX token, which offers a 145% annual percentage yield (APY) through staking. Additionally, these developments could appeal to traders seeking faster transaction times and more efficient blockchain interactions.
Why does this matter?
This matters because Solaxy’s upgrades may significantly enhance Solana’s ability to handle higher transaction volumes without degrading performance. By addressing potential congestion issues, Solaxy could strengthen Solana’s position in the competitive DeFi and Web3 gaming sectors. The improvements promise to boost Solana’s attractiveness to developers and users, potentially driving up the value and adoption of Solana and its associated tokens.
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