According to recent news, Solana is becoming a serious competitor for Ethereum, especially as Ethereum has experienced a significant reduction in transactions volume in its blockchain. The inefficiency of Ethereum proof-of-work algorithm has attracted the crypto community to Solana. In the meantime Solanax as a new project tends to become a platform for cryptocurrencies exchanges. In this article, we are going to introduce Solanax as a great opportunity.
Solanax; a great opportunity for DeFi fans
Solanax is a new DeFi protocol based on Solana network. It helps to improve DeFi functionality since it is going to be the fastest decentralized exchange. In essence, Solanax is an automated liquidity mechanism based on a decentralized and non-custodial pool, which supports Solana network’s swaps. In fact, It has aimed to revolutionize the DeFi world.
Solanax has no order book since it has removed intermediaries, complexity and common time-consuming methods for traders. Solanax allows users to trade without the fear of censorship or losing their assets’ ownership. Put simply, this protocol has unique features such as providing full control to users, higher level of liquidity, staking with low fees and high speed trading.
Solanax’s plan for token issuance is to provide a total supply of 80 million tokens in its project. The coin offering will be implemented in two steps including private offering and public sale, which would be in the form of IEO (initial exchange offering). In each of these steps, 10 million tokens will be offered. Private offering phase will be from 6 to 15 June at $0.1 per token with three months vesting period and at $0.15 without vesting period. IEO also will be launched from 15 to 27 June under three different phases including sales of 5, 3 and 2 million tokens.