Solanax: Get to know the $SOLD Token and its use cases
Solanax is defining the Decentralized Finance sector, by leveraging what is shaping up to be one of the most promising blockchain ecosystems in the space, Solana, and by striving to be the fastest Decentralized Exchange in the ecosystem.
Solanax, will detail the specific tokenomics and allocations for the project in the future about its native Token, $SOLD, and its use-cases.
$SOLD: The fuel behind Solanax
Faster and cheaper: They use the Solana blockchain efficiency to achieve substantially faster transactions than Ethereum, with gas prices that are a fraction of the cost. Much like other Automated Market Maker (AMM) DEXs, we create liquidity provision pools that ensure traders can easily and smoothly swap their assets.
When trading on Solanax, you will be charged a 0.3% or 0.2% fee, according to your position as a market taker or maker respectively. Liquidity suppliers will be rewarded with 0.4% of the trading fees within these specific liquidity pools, while the remaining 0.15% will be reserved for staking pools, and distributed as rewards to individuals staking the $SOLD token.
The $SOLD Token is not only the utility token in the platform, necessary for all transactions within the AMM platform, but is will also be used extensively within the platform, providing access to all of the features of the Solanax platform, which we will delve into detail further down the line.
Community members like yourself are required to hold a certain amount of $SOLD Tokens in their wallets. Solanax will continue to evolve, allowing everyone to profit from the protocol.
In order to summarise all of these use cases: $SOLD token holders will be able to stake them to receive an additional return from trading fees, the 0.4% trading features
A limited governance model is anticipated to be included in Solanax, allowing $SOLD stakeholders to engage in and vote on community ideas and modifications for the development of the platform.
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).
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.
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