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SOLANAX: FASTEST Decentralized Exchange Built on Solana Blockchain

Place/Date: - June 9th, 2021 at 11:19 am UTC · 5 min read
Source: Solanax

SOLANAX: FASTEST Decentralized Exchange Built on Solana Blockchain
Photo: Solanax

Decentralized finance (DeFi) has only been here since 2020 yet it’s already shaking the financial world. The rapidly expanding blockchain ecosystem is hosting DeFi, which is promising a massive overhaul of the financial systems by giving spreading more financial services to the masses. Now we’re welcoming Solanax, a new DeFi protocol built on top of the Solana network aiming to change the way people conduct transactions. As a decentralized and non-custodial automated pool-based liquidity mechanism supporting trades within the Solana ecosystem, Solanax is looking to revolutionize DeFi and make it the centre of financial transactions.

Solanax is being launched on the Solana network, a blockchain promising better speed and cheaper transactions that have never been achieved by its earlier counterparts such as Ethereum and Bitcoin. Solanax will provide trustless token swaps, trading, and more significantly reorientation of the crypto world. In other words, Solanax is destined to become a vital asset exchange community platform.

We’re all aware of the challenges crypto enthusiasts are experiencing with the Ethereum main-net proof-of-work (PoW) consensus that are slow and costly.

To eliminate all the intermediaries, complexities, and time-consuming procedures from the equation, SOLANAX has no order book, complexity, and time-consuming procedures from the equation. This is expected to give users the freedom to trade without fear of censorship or losing ownership of their assets through fraud or hacking.

Solanax Features Summary:

  • Users have complete control
  • Next-level liquidity
  • Friction-less yield
  • Light-speed swaps
  • DeFi is faster, cheaper, and more powerful.

 The Solanax Project Goals

  • Scalability- To expand DeFi by bringing more financial services closer to the people even closer to people
  • Making financial tools more accessible to the general public
  • Lower cost of the transaction to record level through faster transaction speed
  • 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

Solanax aims to reward its early adopters in a big way. The rewards will come based on the platform incentives, allotting 40% of their total token supply to them. The platform does not charge any fees, thus the 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 far, this approach has attracted a large community showing interest in the Solanax project as witnessed on Sunday on the disclosure of the private sale!

Why Solana?

Solana network is carving a niche in the blockchain family as people look at it as a better alternative with more advanced features that they have longed for over the years. Solana is using the weaknesses of Ethereum and other blockchain networks to create a platform that will offer what has been lacking in the industry. For example, the company has re-evaluated its strategies and now expanding its capacity to accommodate the rising demand for faster blockchain services. They aim to be the go-to network for decentralised applications.

Solana blockchain is based on proof of history (PoH), a new method of verifying transactions that turning out to be pretty much popular. They are using PoH to solve the scalability and speed issues that have historically limited Bitcoin and Ethereum development. That is, 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 is not comparable to Ethereum’s 15 transactions. Certainly, this is something worth looking at as more people look to have cheaper transactions. Moreover, Solana is working to achieve these by maintaining a strong sense of security and decentralization.

Solana and DeFi Projects

DeFi projects are focusing on decentralizing financial access by making it available to the masses.

Financial access is seen as the best way to reduce the gap between the poor and the rich as we move forward to a better 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. We can simply conclude that investing in a future where everyone is more equal is a no-brainer.

We at Solanax believe that Solana will be a significant player in the crypto space despite being a new blockchain network. 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 with 3months vesting period;
Token price – $0.15 w/o vesting period;

Initial Exchange Offering: Total available supply – 10,000,000 SOLD
Round 1: 28/06/2021 – 05/07/2021 | $0.20 | Available supply: 5,000,000 SOLD
Round 2: 08/07/2021 – 13/07/2021 | $0.25 | Available supply: 3,000,000 SOLD
Round 3: 16/07/2021 – 19/07/2021 | $0.30 | Available supply: 2,000,000 SOLD

Check out our website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale. Read the whitepaper here.

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