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 personal 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 crew stated, “SOLANAX try to eradicate centralized intermediaries and pave the manner for full decentralization, censorship-resistant, and secure buying and selling inside the Solana ecosystem and past.”
Why Select Solanax?
Solanax is in contrast to every other DEX in 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 traders to purchase, promote and switch crypto property seamlessly. Solanax is the final CEX-killer, providing at-par if not above par aggressive options that merchants look out for in a crypto trade. Solanax is distinctive from different DeFi protocols on Solana and past. Listed here are Solanax’s 5 unique advantages to merchants:
- Trouble-free buying and selling with excessive liquidity throughout Solanax, as traders are incentivized to offer liquidity to low-volume property whereas sustaining excessive liquidity in common property.
- Fast 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 folks will be capable of 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.
- Absolutely decentralized, censorship-resistant with a safe hybrid consensus mannequin
Extra Prospects with Solanax
Solanax’s potentialities don’t cease with these advantages. The platform will supply unmatched flexibility for merchants to entry digital property on the Ethereum blockchain by way of the Wormhole cross-chain bridge. By way of this bridge, builders can convert ERC-20 tokens into SPL tokens suitable with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.
Solanax rewards liquidity suppliers. We’ve 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 despatched 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. By means of these incentives, the platform creates a community-first DEX mission on Solana.
$SOLD Token Distribution
Solanax DEX will distribute not less than 20 million $SOLD tokens earlier than itemizing on a centralized trade (CEX). The mission presently affords crypto fans and traders an opportunity to affix by way of the personal token sale for the $SOLD token, which ends on June twenty eighth. To get began on the personal sale, contact Solanax’s gross sales crew at email@example.com.
In the subsequent IEO that launches on June twenty eighth, one other 10 million $SOLD tokens can be distributed in a number of rounds with a goal of not less than $2 million from the providing. Thus, the personal sale and IEO will distribute a mixed 25% of the complete $SOLD tokens.
Solanax is set to turn into the most scalable DEX platform in the crypto ecosystem for merchants and builders. It affords 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 functions are limitless and performant.
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