Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: AlviNess on June 15, 2021, 07:18:08 AM
-
Solanax aims to revolutionize the world of decentralized Finance by providing the fastest, cheapest decentralized exchange which will operate without any third-party extensions.
Solanax even has its very own token called SOLD. It currently has a supply of 80,000,000.
Liquidity providers are rewarded on Solanax for providing liquidity to low-volume assets.
Decentralized Finance has become pretty popular since last year. We have seen millions of DApps being launched to the Ethereum and Binance Smart Blockchain. DeFi is famous worldwide because of the financial tools it provides. Apart from borrowing and lending services, DeFi freely allows users to trade cryptocurrencies and even perform yield farming. Due to its accessibility and convenience, DeFi has a large user base. Solanax, a brand new decentralized blockchain-based automated market maker, has been launched. Solanax is entirely built on the Solana protocol.
Solanax Will Reduce Transaction Fees and Enable Faster Transactions
Solanax aims to revolutionize the world of decentralized Finance by providing the fastest, cheapest decentralized exchange which will operate without any third-party extensions. Users can trade confidently on the platform without having to worry about losing their assets. Ethereum, the most famous blockchain for DeFi, has many issues. Since it has a Proof of Work consensus algorithm, it is slow, scaling is difficult, and it has very high transaction fees. To resolve all the problems, Solana blockchain was chosen because it is the fastest-growing ecosystem. Solana blockchain can process 50,000 transactions per second. It uses a proof of history consensus mechanism and ensures cheap and faster transactions.
Solanax Maintains its Decentralization With its Guardian Nodes
Solanax has a very clear vision and has so much more to offer than a decentralized lightning exchange. Liquidity providers are now rewarded for providing liquidity to low-volume assets. They will now receive the following volume they provide to the pool. To uphold the decentralization of the blockchain, all guardians are bound to perform the same computation on an on-chain event and sign the Validator Action Approval. The smart contracts are only validated when two-third of the guardian nodes sign using their keys.
To access the features on the Solana blockchain and Solanax, a Solana wallet (SOL) is mandatory. Solanax even has its very own token called SOLD. It currently has a supply of 80,000,000, distributed as – 5% team tokens, 15% liquidity, 15% staking, 25% private sale, and 40% public distribution. Moreover, early adopters are rewarded with 40% of their total token supply allocated to them.
source (https://www.thecoinrepublic.com/2021/06/14/solanax-to-revolutionize-defi-with-its-super-fast-decentralized-exchange/)
-
I also admit that transactions from Solana coins are really very fast and it can be said that the transaction speed of Solana coins is above TPS from Bitcoin and Ethereum.
It is certain that Solana's creation of a DEX called "Solanax" will be very easy and simple and fast because basically Solana's coins are very fast in transactions.
-
Ripple can still be chased by all cryptocurrencies because the Ripple market seems to only follow Ethereum and Bitcoin, it seems the effect of the centralization of the Ripple coin designed by Jedd McCalleb.
I don't think that Ripple is a bad coin but at least this proves that Solana is a good coin and can be a competitor to Ripple.
-
It took a very patient time for us to learn to discuss Solanax because I see that the development of the Solana coin is very fast and we have to be careful and patient to understand the Solanax function, whether it really supports the Solana coin (SOL) or not.
I'm also sure that Solanax was created not only for Solana coins because until this very moment the development of Solana coins is really very large and very fast.