Further to my previous post on Solayer, I got an interesting comment from Boby D!gital on Solaxy. So, as promised, I made my research. I have to admit, I went in a bit skeptical, but the more I dug, the more I started wondering: Could this actually be the next big project in the Solana ecosystem? 🤔

Solaxy is a Layer-2 blockchain solution designed to solve the scalability problems we’ve seen on Solana. With transaction speeds that are already lightning fast on Solana, do we really need this Layer-2 solution? Is there enough demand for it? And what about those crazy staking rewards—annual yields over 200%? That’s got to be a red flag, right? 🚩

But, here’s the kicker: they’ve already raised over $8.9 million in their presale, and they’ve got some major traction. Is this too good to be true, or are we looking at a potential gem in the making? 💎

I’ve broken down the risks, rewards, and everything in between. After going through the details, I’m now more skeptical than I was before. The high staking rewards, unproven technology, and the question of whether Solana really needs another Layer-2 have raised some serious doubts. And don’t forget, they’re also facing competition from other Solana Layer-2s like Neon.

So, to sum it up—DYOR. Be cautious, folks. This could either be a great opportunity or a risky gamble, but I’m leaning toward a bit more skepticism than optimism at this stage.