Solaxy, a Jakarta, Indonesia-based supplier of a layer-2 scaling resolution for Solana, raised $8.9M in Presale funding.
Backers weren’t disclosed.
The corporate intends to make use of the funds to develop operations and its improvement efforts.
Solaxy is a brand new layer-2 resolution that tackles Solana’s scaling points by processing transactions off-chain, bundling them, and settling them again on Solana’s mainnet. This method eases congestion whereas preserving the community’s core safety, drawing inspiration from different profitable layer-2 options, equivalent to Base and Arbitrum. Empowering the Solaxy ecosystem is SOLX, the venture’s native utility token. Past its function in facilitating community features, SOLX is integral to governance and staking throughout the ecosystem.
FinSMEs
