After critical issues with the Solana blockchain let an unknown hacker exploit a zero-day vulnerability and mint and withdraw tokens from other users’ accounts, the Solaxy presale’s layer 2 solution makes more sense than ever.
Solana devs identified the vulnerability on April 16, 2025, and explained it as a bug:
According to the analysts, it took significant expertise to exploit the bug, which means the attackers possessed serious know-how and skills.
Could Solana’s Problem Plague Other Blockchains?
Following the breach, Ethereum and even Bitcoin came under scrutiny, with some suggesting that other blockchains may contain the same hidden problem.
After Curve Finance contributor highlighted this issue in an X post, for example, Solana LABS CEO, Anatoly Yakovenko, responded by pointing to similarities with the Ethereum network.
However, the concerns seem unwarranted. As one Ethereum community member, Ryan Berckmans, pointed out, ‘only Ethereum provides institutional grade risk minimization.’
How is Solana Tackling the Issue?
Solana believes the upcoming 2025 Firedancer upgrade may present a solution, as the third-party validator is supposed to improve Solana’s efficiency and sturdiness.
Jump Crypto, the Web3 company behind Firedancer, showcased it during Solana’s Breakpoint 2022, and proved it can process over one million Transactions Per Second (TPS) compared to Solana’s 50,000.
The client’s live testnet launched in October, 2023.
However, the same Berckmans fires back that Firedancer can’t fulfill Solana’s need for client diversity on its own; you need three clients for that:
This is where Solaxy ($SOLX) enters the picture.
Solaxy ($SOLX) – Improving Solana’s Ecosystem with Lower Fees and More Network Stability
Solaxy ($SOLX) is Solana’s first Layer 2 that aims to upgrade the network for lower fees, faster transactions, reduced downtime, and improved overall network stability.
Solaxy is a targeted solution to Solana’s most pressing issues. In particular, those related to congestion, poor performance, delays, and even failed transactions.
By introducing infinite scalability, off-chain execution, and transaction bundling, Solaxy aims to launch Solana to new heights.
To that end, the new Layer 2 constantly improves, with the devs posting regular updates and upgrades. The most recent announcement is that April 19 will see the release of the new Solaxy Block Explorer.
The presale offers a dynamic APY of 121%, and the staking pool currently sits at an impressive 9.5B, highlighting significant investor trust and interest in the project.
As one of the newest meme coins on the block, $SOLX comes with multiple utility layers to transform Solana’s on and off-chain functionality.
And with Solana being the third-biggest crypto, despite its issues, this could be one of the best altcoins today, showcasing a lot of growth potential.
If you’re interested in the presale, check our ‘how to buy $SOLX’ guide and read our price prediction to better understand the project’s potential.
Is the Solaxy Presale the Answer to Solana’s Problems?
To be clear, Solaxy will improve Solana’s speed and transaction efficiency, but can it also solve the network’s security issues? It’s not unreasonable, given Solaxy’s advanced and constantly upgrading protocol.
While we wait to see what happens, remember that this is not financial advice. The crypto market is always volatile and unpredictable.
So, DYOR (do your own research) and only invest what you’re comfortable losing.
