San Francisco, California, 13 June 2021, ZEXPRWIRE, Solanax, a Solana-based decentralized finance protocol, has launched and is currently conducting a private token sale, with an initial exchange offering (IEO) slated to launch on June 28th. The DeFi protocol sells its native tokens, $SOLD, to add resources to the project and accelerate its development. The private sale will end on June 25th, and the IEO will launch on June 28th.
Solanax went live on June 9th. They plan to launch its 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.”
Why Choose Solanax?
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 above par competitive features that traders look out for in a crypto exchange.
Solanax is unique from other DeFi protocols on Solana and beyond. Here are Solanax’s five exclusive benefits to traders:
- 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.
- Nearly zero 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
- It runs on the more powerful and highly scalable Solana blockchain.
- Fully decentralized, censorship-resistant with a secure hybrid consensus model
More Possibilities with Solanax
Solanax’s possibilities do not stop with these benefits. The platform will offer unmatched flexibility for traders to access digital assets on the Ethereum blockchain through the Wormhole cross-chain bridge. Via this bridge, developers can convert ERC-20 tokens into SPL tokens compatible with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.
Solanax rewards liquidity providers. We have reserved 40% of the 80 million total supply of $SOLD for platform incentives. What’s more, $SOLD holders can stake their tokens and earn rewards. Of the 0.3% taker fee and 0.2% maker fee on transactions, 0.4% is redistributed to Solanax liquidity pools as rewards for liquidity providers. The remaining 0.1% is sent to the staking pool as staking incentives. Solanax DEX also has a farming platform where traders can stake LP tokens and earn farming rewards. Through these incentives, the platform creates a community-first DEX project on Solana.
$SOLD Token Distribution
Solanax DEX will distribute at least 20 million $SOLD tokens before listing on a centralized exchange (CEX). The project currently offers crypto enthusiasts and investors a chance to join through the private token sale for the $SOLD token, which ends on June 28th. To get started on the private sale, contact Solanax’s sales team at [email protected]
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. Thus, the private sale and IEO will distribute a combined 25% of the total $SOLD tokens.
Summary
Solanax is set to become the most scalable DEX platform in the crypto ecosystem for traders and developers. It offers lightning-fast token swaps at very low fees, with the convenience of a CEX.
For developers, Solanax builds a versatile platform to bring interoperability across blockchains catalyzing project development and adoption. Powered by Solana, the DeFi protocol’s applications are limitless and performant.