Solaxy Set to Launch as Solana’s First Layer 2 After Raising $56 Million: Best Crypto to Buy?

In what’s turning out to be one of the most record-breaking crypto presales of the year, Solaxy (SOLX) has raised over $55.5 million. This success has largely been supported by investors and project builders who see tremendous potential in projects that can enhance Solana’s already formidable capabilities. The DeFi lending sector is also a key point of focus, as the total value locked in crypto lending protocols recently surpassed $53 billion.

Considering the pace of this growth, market experts are looking to Solana as the ideal blockchain to meet this rising demand. Institutional investors have also been doubling down on Solana’s ecosystem via fresh capital inflows. Meanwhile, US regulators have shown a willingness to advance approvals for Solana exchange-traded funds (ETFs), making the pessimistic attitude of previous years feel like a distant memory.

Against this backdrop, Solaxy, the first-ever Layer 2 scaling solution on Solana, is gearing up for its mainnet launch on July 7 – after which it will immediately begin helping Solana to address its surging DeFi demand.

Investors only have two days to buy SOLX tokens for $0.001766 before the token claim begins on June 23.

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Institutions Turn to Solana for On-Chain Finance, Solaxy Steps in as the Layer 2 Fix

A new wave of DeFi adoption is underway, fueled by the expansion of tokenized real-world assets and increased institutional participation. Per a recent market report by Artemis and vaults.fyi, the total value locked on top lending platforms has surged 60% in the past year (and is now approaching $60 billion), as traditional finance embraces on-chain yield markets.

With almost $10 billion locked into its own DeFi protocols, Solana is emerging as the go-to network for on-chain finance, with market commentators praising its pioneering technology and high developer growth rate (which is even faster than Ethereum’s).

At the same time, SOL Strategies (HODL), a Canadian firm that holds more than 420,000 SOL in its reserve, has applied to list on the Nasdaq exchange in the US. This move is particularly notable as it replicates MicroStrategy’s Bitcoin playbook (led by Michael Saylor), but focuses on Solana exposure instead.

This institutional confidence reaffirms Solana’s momentum, but also highlights its challenges. During January’s meme coin frenzy, Solana’s network experienced temporary but significant congestion, leading to slower transactions when cryptos like the Official Trump (TRUMP) coin exploded in popularity.

Solaxy’s Layer 2 solution directly targets Solana’s scalability bottlenecks by offloading transaction bundles to a secondary network for processing, and finalizing them on Solana’s Layer 1.

By effectively expanding throughput and reducing on-chain load, Solaxy will ensure that surging user activity (from DeFi trades to in-game actions) can be handled without degrading Solana’s performance. Solaxy’s Layer 2 will also offer a cross-chain feature, using a bridge to Ethereum and Solana to connect liquidity between the two ecosystems.

Whales Push Solaxy Presale Past $55 Million as Mainnet Launch Nears

Solaxy’s presale has raised over $55.5 million, making it one of the year’s most successful crypto presale campaigns.

On-chain data continues to show significant whale participation, with large purchases accelerating the presale raise from $53 million to over $55 million in a matter of days. This demand even prompted Solaxy’s team to briefly extend the sale’s timeline to accommodate last-minute interest.

The Solaxy team has also carried out two massive token burns, permanently removing about 55 billion SOLX (roughly 40% of the total supply) from circulation even before the token enters the market. This dramatic supply reduction (worth nearly $100 million in total) shows the team’s commitment to sustainable value for early supporters.

Solaxy’s Layer 2 rollout is now in full swing, and a series of key milestones are planned for the coming weeks. The SOLX token’s claim portal will go live for presale buyers on June 23 – and the Solaxy mainnet is scheduled to launch on July 7, marking the official debut of Solana’s first Layer 2 solution. This launch will include the full cross-chain bridge functionality between Solaxy, Ethereum, and Solana.

On July 14, Solaxy will launch the much-awaited Neptoon (native DEX) platform, followed by the Igniter Protocol no-code token launchpad just one week later.

Solaxy Could Be the Backbone of Next-Gen On-Chain Activity

Solaxy’s core strength lies in its ability to provide a real solution to Solana’s scaling needs. By leveraging Solana’s base layer security while executing transactions on a new Layer 2, Solaxy will effectively turbocharge throughput for activities like trading, NFT minting, and gaming.

The project’s emergence also comes at a pivotal time: with DeFi protocols integrating real-world assets, and on-chain asset managers quadrupling their capital this year to over $4 billion, there’s a growing need for infrastructure that can handle institutional-grade volumes. Solaxy can position the Solana network to capture more of that flow without the hiccups seen in prior high-traffic episodes.

Industry experts have also noted that after Ethereum’s success with its own Layer 2s, Solaxy’s L2 could open the floodgates for new Solana projects and blockchain users who demand both speed and scalability.

For early believers in Solaxy, its presale offers a final chance to secure a stake in what could be a historically significant Layer 2 ecosystem. The SOLX token claim opens on Monday for presale buyers, after which SOLX will begin trading on decentralized exchanges – with more listings to follow.

Buyers can also immediately deploy their tokens in Solaxy’s staking program to earn up to 76% APY rewards.

Visit Solaxy Presale

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Nikolay

Nikolay is a crypto enthusiast, with a keen interest in emerging technologies and investment strategies. He holds active positions across various crypto exchanges, regularly analyzing and investing in promising new projects and meme cryptos. Nikolay is known for his ability to take calculated risks and extract value from unconventional investments, with his highest return being 13X with the $PEPE token. His investment philosophy includes a strategic approach focused on long-term growth, supported by in-depth research of market trends and innovations in crypto and blockchain technologies. Niki actively monitors global market changes and has a deep understanding of cryptocurrency mechanisms and their potential for development.