Solar Dex has been making waves since its initial SOLAR token launch, and the team has been hard at work releasing staking features for SOLAR and its decentralized exchange (DEX) beta. The platform is also currently being audited by two companies.
In five months, Solar has integrated with Chainlink and is tradeable on BitMart, LBank and Raydium.
The SOLAR token has been a smashing success to date as one of the few low-cap altcoins to remain well above its initial DEX offering price in the current market. Out of the 100 million-token total supply, 85 million are in circulation, with 65 million actively being staked at the time of writing. The outstanding performance is a direct consequence of strong community support for the project and the team.
The exchange’s goal is to slow the traction of rug pulls occurring in the Solana ecosystem. Currently, every liquidity pool on Raydium is unlocked, and there is no notable way to lock liquidity on Solana.
This is where Solar Dex comes into play: It functions as a standard DEX with swap and limit orders and also as a liquidity locker. By locking liquidity, investors can rest, knowing the likelihood of their investment being a scam is minimal.
“The issue we see with various Solana DEXs is that liquidity isn’t locked, making it difficult to feel confident and secure in your investment, and some exchanges act as gatekeepers, which goes against the very nature of DeFi,” said Richard, CEO of Solar Dex.
Solar Dex’s premise is that anyone can list a token on the exchange, but a three-month locked-liquidity period is required when creating a liquidity pool.
Solar will launch an exchange and is currently incorporating a launchpad; SOLAR token-staking will be required to participate. The first token that goes live on the launchpad will be Astro Token — one of the few women-led blockchain projects.
Another unique feature of the DEX will be user incentivization by obtaining a Solar Sentry nonfungible token (NFT) to earn exchange fees once the DEX goes live. By staking Solar Sentry NFTs, everyone has a chance to participate in the Solar ecosystem.
John, chief operating officer of Solar, said, “The more successful we are as a team, the more successful everyone in the community is.”
Solar Dex wants to become the one-stop shop in DeFi as a DEX, staking platform and launchpad that offers security and peace of mind to all.
So far, it has done a phenomenal job.