SAN FRANCISCO, June 13, 2021 (GLOBE NEWSWIRE) — Solanax, a Solana-based decentralized finance protocol, has launched and is presently conducting a personal token sale, with an preliminary trade providing (IEO) slated to launch on June twenty eighth. The DeFi protocol sells its native tokens, $SOLD, so as to add sources to the mission and speed up its growth. The non-public sale will finish on June twenty fifth, and the IEO will launch on June twenty eighth.
Solanax went reside on June ninth. They plan to launch its automated market maker (AMM) and decentralized trade (DEX) platform on the Solana Blockchain. Concerning the launch, the workforce mentioned, “SOLANAX try to get rid of centralized intermediaries and pave the best way for full decentralization, censorship-resistant, and protected buying and selling inside the Solana ecosystem and past.”
Why Select Solanax?
Solanax is in contrast to another DEX within the crypto house. The protocol’s versatility powered by Solana builds a trader-first DEX design, the place buying and selling options are optimized for buyers to purchase, promote and switch crypto belongings seamlessly. Solanax is the last word CEX-killer, providing at-par if not above par aggressive options that merchants look out for in a crypto trade. Solanax is exclusive from different DeFi protocols on Solana and past. Listed below are Solanax’s 5 unique advantages to merchants:
- Trouble-free buying and selling with excessive liquidity throughout Solanax, as buyers are incentivized to supply liquidity to low-volume belongings whereas sustaining excessive liquidity in widespread belongings.
- Speedy and seamless transaction settlement powered by Solana’s excessive transaction throughput.
- Almost zero transaction charges for swapping SPL tokens.
- Open-source Liq and DeFi protocol. There are a number of methods individuals will have the ability to earn rewards.
- Plans for cross-blockchain Bridge implementation by way of Wormhole / Binance Bridge / Solanax Token Converter
- It runs on the extra highly effective and extremely scalable Solana blockchain.
- Totally decentralized, censorship-resistant with a safe hybrid consensus mannequin
Extra Potentialities with Solanax
Solanax’s potentialities don’t cease with these advantages. The platform will supply unmatched flexibility for merchants to entry digital belongings on the Ethereum blockchain by the Wormhole cross-chain bridge. By way of this bridge, builders can convert ERC-20 tokens into SPL tokens appropriate with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.
Solanax rewards liquidity suppliers. We now have reserved 40% of the 80 million complete provide of $SOLD for platform incentives. What’s extra, $SOLD holders can stake their tokens and earn rewards. Of the 0.3% taker payment and 0.2% maker payment on transactions, 0.4% is redistributed to Solanax liquidity swimming pools as rewards for liquidity suppliers. The remaining 0.1% is shipped to the staking pool as staking incentives. Solanax DEX additionally has a farming platform the place merchants can stake LP tokens and earn farming rewards. Via these incentives, the platform creates a community-first DEX mission on Solana.
$SOLD Token Distribution
Solanax DEX will distribute no less than 20 million $SOLD tokens earlier than itemizing on a centralized trade (CEX). The mission presently gives crypto fans and buyers an opportunity to affix by the non-public token sale for the $SOLD token, which ends on June twenty eighth. To get began on the non-public sale, contact Solanax’s gross sales workforce at email@example.com.
Within the subsequent IEO that launches on June twenty eighth, one other 10 million $SOLD tokens will probably be distributed in a number of rounds with a goal of no less than $2 million from the providing. Thus, the non-public sale and IEO will distribute a mixed 25% of the whole $SOLD tokens.
Solanax is ready to turn into essentially the most scalable DEX platform within the crypto ecosystem for merchants and builders. It gives lightning-fast token swaps at very low charges, with the comfort of a CEX.
For builders, Solanax builds a flexible platform to carry interoperability throughout blockchains catalyzing mission growth and adoption. Powered by Solana, the DeFi protocol’s purposes are limitless and performant.
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