Solanax Monthly Recap — Review for November
Hello SOLDiers! We hope you’re doing well.
November has been an extraordinarily productive month for all of us at Solanax, as we’re preparing for the holiday season and the new year of 2022. During the past month, we’ve achieved some crucial milestones in our development, published new content, and continued to grow our community.
We couldn’t be more excited about the future.
We’d like to express gratitude to all SOLDiers for their support. The opportunity to open up the world of DEXes to all who wish to enter it has been a gift to us and we hope that it has been as much of a gift to all who supported us on our journey.
Continue reading to find out all that we achieved in November.
Solanax Development Milestones
On November 17th, we held an AMA session with our lovely community in our Telegram group. It was a great opportunity for our users and investors to directly ask the team anything. It’s been some time since then, but don’t worry we had our team draw up a recap of the AMA for you. Check it out.
But more important than that, and so far probably the most important thing of all, we announced and published our demo. Yes, the demo of our platform is ready for you to view and check what Solanax developers have been working on for the last few months.
You can now take a look, but if you wish to really try it out and immerse yourself into the freedom that it offers, you just need to connect your wallet to it and go from there. Here are the wallets that are supported:
- Phantom, Solflare Web, Solflare Extension, Sollet Web, Sollet Extension, Ledger, MathWallet, Solong, Coin98, Bockto, Safepal, Slope, Bitpie.
Pretty impressive list, isn’t it? We’re excited for you to test the platform and give your feedback.
Community Posts & the Importance of Solana’s Growth for Solanax
We posted news on Twitter regarding Solanax in November, as well as asked for your feedback during our Telegram AMA. On Medium, we wrote an article about the top projects in the Solana ecosystem.
November was a big month for Solana, with the price gaining 20% over the month. Solana has truly made its way into the mainstream. During one week, institutional investors purchased $43 million worth of Solana (SOL). Plus, Solflare and Phantom wallets became available for mobile platforms.
Since our DEX is built on Solana, the progress and success of Solana is amazing news. As more folks move to Solana, we have the opportunity to become the leading Solana-based, cross-chain DEX.
Furthermore, something that is really important to us at Solanax is Web 3.0 — or, the complete decentralization of the Internet. Therefore, we want our protocol to be affordable, reusable and scalable. For that mission, it’s important to note that Reddit and Solana’s founders have teamed up to announce a $100 million initiative for Web 3.0 social media technology. Of similar importance is Brave Browser announcing a move beyond Ethereum to Solana and Kineko announcing a migration from Ethereum to Solana as well.
Again, this all matters because our protocol is built on Solana and it proves the concept that Solana is a viable foundation for projects. That’s why Real Vision co-founder Raoul Pal said in this video that Solana (SOL) has “provable” network effects.
Solanax is a Solana-based automated market maker (AMM) exchange providing super-fast trades, pooled liquidity (meaning on-chain, no middlemen), 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, say, Ethereum’s Proof of Work Consensus, it is becoming an ever more popular solution among investors, users, and developers.
Where Ethereum has visibly failed to live up to the community expectations (slow, expensive: gas fees and more), Solana quickly and more visibly proves to be a viable alternative, as evidenced by the aforementioned moves and migrations.
Now, Solanax will utilize and integrate 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.
In our documentation we explicitly say:
“The vision of SOLANAX is nothing less ambitious than becoming UniSwap — a unicorn of the Solana network. SOLANAX seeks to obviate the need for centralized middlemen, paving the way for entirely decentralized, censorship-resistant, and secure trading on the Solana ecosystem. SOLANAX users will be able to effortlessly execute smart contract-based trades instantly and only at a fraction of the cost of the Ethereum network. Launch SOLANAX — open-source liquidity and DeFi protocol that the Solana community can quickly adopt and reuse for future projects.”
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