Monthly Update — October
November is here at last! As we wrap up yet another month and prepare the exciting developments that will arrive this month, it is now time to look back and quickly review what happened in Solanax over the last few weeks.
Developing Solanax has been our primary focus during the last few months, and October was not different. Meanwhile, however, we’ve been putting together content to keep our community updated on all Solanax news and informed on relevant industry related topics.
October Content
During October, our content team focused on creating a series of informative and helpful posts for all members of the growing Solanax community. Of course, some of the topics we covered weren’t at all unfamiliar to more experienced crypto enthusiasts. Still, one of our main goals at Solanax is to captivate an audience of newcomers and welcome them with content that makes it easier to step into the world of cryptocurrencies, especially Decentralized Finance (DeFi).
With that in mind, over the last month, we released introductory posts on some of the topics that relate to Solanax and our surrounding environment.
We began by briefly explaining Automated Market Makers (AMMs), how they work, and why they play such a pivotal role in making DeFi viable.
In the post that followed, we chose four leading Decentralized Exchanges (DEXs) from different blockchains with different characteristics to provide our users with some perspective on existing DEXs and how they differ between them.
We also released three different posts on topics we believe to be fundamental in the path towards fully understanding DeFi. Liquidity Providing, a topic we had briefly covered in the post on AMMs but believed it deserved further development, the concept of Blockchain Interoperability, or how it’s commonly referred — Cross-chain Technology, and Solana’s very own cross-chain solution, the Wormhole bridge.
If you’re new to cryptocurrencies, or even a more experienced user and wish to get some insight on some of these topics, make sure to take a look at our previous posts!
Solanax Posts
Besides the above-mentioned industry-wide topics, October was also a month of introductions for Solanax. This month, we were proud to begin team introductions, starting with our experienced CTO, Mindaugas Butkus, one of the main driving forces behind the Solanax project.
We also got to announce new trading pairs for the $SOLD token on Raydium DEX. If you haven’t got the chance yet, make sure to stop by Raydium or Exmarkets where our $SOLD token is available for trading and staking!
About Solanax
Solanax is a Solana-based automated market maker (AMM) exchange providing lightning-fast trades, pooled liquidity, and other income-generating features. Solana was chosen as the underlying blockchain to facilitate low-cost, high-speed transactions. It is a permissionless, high-performance blockchain based on the Proof of History consensus (PoH).
Given the advantages that Solana offers when compared to other blockchain ecosystems, it is a popular solution among investors, users, and developers. Ethereum’s Proof of Work Consensus is slow, hard to scale, and comes with high gas fees which were exacerbated by its account-based system. Where Ethereum has failed to live up to the community expe, Solana quickly proves to be a viable alternative.
Solanax will utilize the cross-bridge Wormhole to connect to projects and digital assets existing on the Ethereum blockchain, facilitating adoption and allowing the crypto community to seamlessly move tokenized assets from one blockchain to another, improving interoperability and liquidity setup.
It is faster and cheaper; Solanax offers on-chain liquidity; traders will have more control over their trading activities; an integration of Wormhole for fusion with tokenized assets on the Ethereum blockchain, and much more.
For more details on the project at the forefront of the DeFi evolution, visit:
Website | Twitter | Telegram | White paper
