What is Solanax?
Decentralized Finance (DeFi) has witnessed remarkable growth in terms of products and user acceptance. Multiple blockchains now host a wide range of financial products that are accessible, highly transparent, and trustless. The value locked in DeFi has exploded from $1.077 billion in 2020 to $42.18 billion as of February 18, 2021. Among the many token exchange mechanisms on the Ethereum blockchain, Uniswap stands out as the most popular and widely used instrument due to its Automated Market Maker (AMM). However, because most DeFi token exchanges are Ethereum-based, the majority of customers find it challenging to use decentralized trading. Solanax provides a solution to all the difficulties within the current DeFi sector.
Although it is still in its early stages, Solanax has a clear roadmap and project goals. Besides a lightning-fast and cheap DEX, the Solanax ecosystem offers zero front-running, minimal slippage, and support for market makers and trading bots with interoperability. The rapid trustless cross-chain DEX also includes a built-in order book for setting stop losses and profit-taking levels. Liquidity providers are incentivized to provide liquidity to low-volume assets for higher rewards, as they receive a share in proportion to the volume they provide to the pool. The DEX fee distribution is 0.3% for the taker and 0.2% for the maker.
One unique aspect of Solanax is its wormhole bridge, which provides access to the entirety of crypto assets generated on the Ethereum network. The Wormhole is not a blockchain network, so it can safely depend on consensus and finalization of the chains that it bridges.
Solanax is a truly decentralized platform where all guardians perform the same computation upon observing an on-chain event and sign a Validator Action Approval. If a two-thirds majority of all guardian nodes observe and sign the same event using their individual keys, it is automatically validated by the Wormhole contracts on all chains and triggers a mint/burn.
Solanax solves existing issues surrounding DeFi, including the Ethereum mainnet proof-of-work consensus's major design flaws such as slow transaction processing, scaling difficulties, and high transaction fees. Solana, the underlying blockchain chosen to fix these problems, is the fastest-growing ecosystem in the crypto world in 2021. This permissionless, high-performance blockchain is based on a proof-of-history consensus and provides an incredible 50,000 transactions per second, enabling low-cost and high-speed transactions.
By using Solana, Solanax offers near-zero fees for providing liquidity to an AMM pool, farming the liquidity provider token, and harvesting rewards. Traders will not have to pay for any slippage on the decentralized exchange due to liquidity providers' preference for one exchange over another.
Solana is expected to become the new crypto-standard setter based on peer-reviewed research and developed using evidence-based methods. Solana provides the fastest, low-fee, censorship-resistant blockchain necessary to democratize the world's financial system, allowing it to flourish.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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