Solaxy Bucks Ethereum L2 Doom – ICO Tops $42M, 18 Days Left

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As Solana’s first Layer-2, Solaxy ($SOLX), races past $42 million in presale, there are questions over whether Ethereum’s Layer-2 strategy is weakening the main chain.

That’s the issue raised by Max Rebol, CEO and Managing Partner of Harbour Industrial Capital – a Polkadot-focused VC fund. According to Rebol, Ethereum’s scaling model may be “doomed from the start,” arguing that its reliance on external Layer-2s only fragments the ecosystem further.

Meanwhile, Solana is preparing for a very different kind of evolution – with the upcoming launch of Solaxy ($SOLX), its first-ever Layer-2 chain.

But unlike Ethereum’s approach, Solaxy isn’t here to patch scaling problems. Solana already processes thousands of transactions per second. Instead, Solaxy is designed to make Solana more dependable, modular, and ready to onboard the coming flood of innovation and adoption.

FOMO is setting in. Solaxy has now raised $42 million in its presale, with just 18 days left for early backers to lock in – before $SOLX moves to exchanges at a higher price.

At just $0.001738 per token, $SOLX is trading at a steep discount – but with the price increasing every two days, timing is everything.

How Ethereum’s Layer-2 Dependence Weakens Its Ecosystem

Ethereum’s existence has become increasingly dependent on Layer-2 solutions – introduced to solve its well-known issues of high fees and slow transaction speeds.

Even founder Vitalik Buterin has acknowledged this reality. However, this patchwork approach has drawn mounting criticism over the years, raising doubts about whether it’s truly a sustainable path forward.

As mentioned, Max Rebol has criticized Ethereum’s L2 landscape, arguing that it disjoints the ecosystem rather than strengthens it.

Instead of creating a more usable network, Ethereum has splintered into dozens of semi-compatible rollups – each with its own quirks, bridges, and limitations. This adds more complexity for developers and users alike, not better performance.

He also argues that these Layer-2s contribute little to the network itself, instead benefiting from Ethereum’s security while giving nothing back – branding them “free riders.” And the numbers support his point.

Despite over $39 billion in total value locked (TVL) across Ethereum’s Layer-2s, rollups still suffer from inconsistent UX, opaque governance structures, and reliance on centralized sequencers.

https://l2beat.com/scaling/tvs

Interoperability remains a major hurdle, and bridging assets across Layer-2s is still clunky and risky. What was meant to be a fix now feels more like fragmentation disguised as innovation.

Enter Solaxy: A Seamless Scaling Vision For Solana

Now Solaxy steps in – not to fix Solana, but to elevate it. Rather than masking flaws, it adds modular upgrades to an already high-performance chain, while preserving composability and cohesion.

Built as a Layer-2 scaling solution, Solaxy uses roll-up bundling and off-chain enhanced processing to optimize transaction throughput and reduce fees. It’s ideal for high-frequency dApps – from meme coins and gaming to low-latency finance – all while retaining Solana’s native speed and structure.

Its layered design lets developers plug in tailored components without trade-offs. And unlike Ethereum’s siloed rollups, Solaxy keeps everything composable on-chain.

That’s already visible in its live testnet bridge, built with Hyperlane and connected to Solana Devnet. Native SOL transfers are live, and when the mainnet bridge launches, it’ll unlock interoperability with Ethereum for seamless cross-chain flows.

🛸 Solaxy Testnet Bridge is LIVE! 🛸

You can now bridge native SOL between Solana Devnet and Solaxy Testnet at https://t.co/BFMV1G9v4c 🔥🚀

Built with Hyperlane, this is the first step toward full cross-chain interoperability.

Ethereum bridging is coming for mainnet — stay… pic.twitter.com/8NVoPaqaoV
— SOLAXY (@SOLAXYTOKEN) May 15, 2025

Where Ethereum’s L2s splinter usability, Solaxy is building toward cohesion – not just within Solana, but across the broader blockchain landscape.

Solaxy’s DEX And Igniter Complete The Ecosystem Loop

Another major component of the Solaxy stack is about to go live: the Solaxy DEX.

🚨 Welcome to the Future 🚨

Another major piece of the puzzle is coming together. The Solaxy DEX is on the way.

It will be the native trading hub for all tokens launched through Igniter, our rollup-native launchpad. Once a token completes its bonding curve on Igniter, it flows… pic.twitter.com/lEvZh7RRd6
— SOLAXY (@SOLAXYTOKEN) May 27, 2025

This native decentralized exchange will serve as the trading hub for all tokens launched through Igniter – Solaxy’s no-code, rollup-native token launchpad introduced on May 19.

Igniter lets anyone launch a token in minutes – without needing to write a single line of code. From memes to games to financial utilities, projects start here. Once a token completes its bonding curve, it flows directly into the DEX, unlocking instant liquidity.

This seamless pipeline from creation to exchange makes the Solaxy DEX more than a trading venue – it’s the circulatory system of the ecosystem, powering the flywheel for every project built on Solaxy.

Final Stretch – Solaxy Shapes The Future Of Solana

As Ethereum’s Layer-2s face mounting scrutiny, Solaxy is charting a different course – one rooted in cohesion, not fragmentation.

With its full-stack ecosystem coming to life, including the live testnet bridge, Igniter launchpad, and upcoming DEX, Solaxy is positioning itself as the modular engine powering Solana’s next evolution.

But the window is closing fast.

To join before the presale closes, visit the Solaxy website and connect your preferred wallet.
All $SOLX tokens purchased can be staked immediately, with staking currently offering a dynamic 96% APY – adjusted in real-time based on total pool participation.

For the best experience, use Best Wallet – the official self-custody partner for Solaxy. It offers seamless multichain support, full visibility into your $SOLX holdings, and is optimized for future integrations across the Solaxy ecosystem. Download Best Wallet on Google Play or the Apple App Store.

Stay updated by following Solaxy on Telegram and X.

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