Solaxy ICO Defies Bear Market, Raises $23.5 Million for Solana Layer-2 Scaling Solution

Despite a bearish crypto market, Solaxy (SOLX) has raised $23.5 million through its ICO. Launched on December 12th, the layer-2 scaling solution for Solana has attracted significant investor interest. The SOLX token, priced at $0.001646, has seen consistent daily contributions. The team plans post-ICO development, allocating 10% of the SOLX supply for liquidity and 15% for marketing. A DEX listing is planned immediately after the ICO, with a potential CEX listing to follow. Solaxy aims to solve Solana's congestion issues by processing transactions off-chain, reducing fees and improving processing times. The project also plans a bridge between Solana and Ethereum. SOLX token is used for transactions, governance, and staking, with yields currently estimated at 172% per year. Coinsult's audit confirms no honeypot risks and verifies that the team can't mint additional tokens.