Nikolas Sargeant
SOLA-X, a cross-chain DeFi, has reached an important milestone in its attempt to revolutionize the decentralized finance (DeFi) ecosystem.
The team has raised $680,000 so far, taking it closer to its funding goals. SOLA-X is a cross-chain DeFi hub that enables a frictionless experience for traders and liquidity providers.
The platform introduces a completely new type of protocol-managed liquidity and arbitrage in order to eliminate crucial problems within existing DeFi ecosystems: Impermanent loss and low APYs for liquidity providers and high slippage and price impact for traders.
So far, SOLA-X’s users have experienced no price impacts, and the LPs earn an additional APY of around 20% compared to other protocols.
The decentralized application will be deployed on two high-performance chains that enable lightning-fast trades. With a market value of $8.75 million, SOLA-X could be an excellent opportunity for investors at the moment. The current valuation is a 40% discount compared to the TGE valuation of $15m.
According to the team, they have secured the necessary partnerships to successfully launch the protocol as well as the token.
On AngelBlock, SOLA-X has raised over $48k and has raised $680k from other funding sources. AngelBlock offers a transparent, distributed, and democratic platform for token-based financing, empowering Web3 startups with new funding opportunities.
SOLA-X chose AngelBlock because of the benefits the platform offers. A major benefit of using AngelBlock is the investor protection feature available. Investors have the power to vote on the successful completion of milestones, providing an extra layer of security for their investments and ensuring their interests align with project goals.
Furthermore, AngelBlock's platform utilizes smart contracts to automate the fundraising process, offering a trustless and transparent solution for both investors and startups.
AngelBlock recently joined the Aleph Zero Ecosystem Funding Program (EFP). By joining this program, AngelBlock not only gains access to funding for its project development but also gets connected with a larger network within the Aleph Zero ecosystem.
At press time, $SAX, the native token of the SOLA-X ecosystem, is going for $0.0175, down from the previous price of $0.03.
$SAX is the native token of the SOLA-X ecosystem. Users can lock their $SAX tokens or use them to provide liquidity to the ecosystem, allowing them to receive veSAX (ve = vested escrow), which enables APY multipliers, governance functions, and discounts.
SOLA-X will end the public sale round in December and will list the token on one top 25 CEX according to CoinMarketCap and one DEx with minimum initial liquidity of $200,000.
The project will use the funds to develop the Smart Order Router, allowing users to swap assets through different pools.
