Solanax is a Solana blockchain-based automated market maker (AMM) that uses the decentralized exchange's central order book to facilitate lightning-fast trades, pooled liquidity, and additional features for earning income. To enable low-cost and high-speed transactions, Solana was chosen as the underlying blockchain. It is a permissionless, high-performance blockchain based on Proof of History (PoH).
Solanax offers nearly-zero fees to provide liquidity to an AMM pool, farm the LP token and harvest the rewards.
Many DeFi AMMs provide many of the same features. Because liquidity providers prefer one exchange over another, traders should avoid paying for slippage on the DEX, which has limited liquidity.
Traditional AMMs allow you to specify the number of tokens to be traded and the amount of slippage. If the conditions are not met, the order and gas fee are wasted rather than waiting for a transaction to proceed.
Solana is widely expected to establish the new crypto standard for DEX platforms. Investors view the Solana blockchain as a platform that enables lightning-fast transactions on the blockchain at a low cost.
AMMs like SOLANAX provide a compelling alternative, providing innovation in the DeFi liquidity concept for setting contract-based limit orders without slippage. If the trade criteria are not met within limit orders on DEX, the order and gas price are not wasted.
The ERC20 standard was designed for Ethereum, and it is becoming increasingly expensive. Solana drastically decreases transaction prices and speeds up the process. Future developments will be able to benefit from enhanced capabilities.
Wormhole: A bidirectional, decentralized ERC-20 ⇄ SPL token bridge between Ethereum and Solana, allowing existing projects, platforms, and communities to move tokenized assets seamlessly across blockchains to benefit from Solana’s high speed and low cost.
Through its Proof of History design, it can reach over 50k transactions per second while keeping costs to $10 per 1 million transactions.
The ultimate goal is to launch SOLANAX - open source liquidity and DeFi protocol that the Solana community can easily adopt and reuse for future projects.
Its blockchain uses a revolutionary technique of transaction verification that is substantially faster. For example, Ethereum currently handles about 15 transactions per second, while Solana is capable of more than 50,000 TPS! Using a Proof of History (PoH) method, Solana became the fastest blockchain by handling thousands of transactions per second.