Solar (SXP) news

What Is Solar?

Solar was founded in December 2021 with the aim of delivering innovative and straightforward Defi offerings to prospective investors. The fundamental worth of Solar Labs is composed of two key components: the Solar Token and the Solar Sentry NFT Collection.

What Makes Solar Unique?

Solar offers various features, including Auto Liquidity Lock, which allows users to combine two tokens of equal value in a pool to form a market. In return for supplying their funds, liquidity providers receive trading fees equal to their percentage of overall liquidity from trades that take place in their pool. Users can also start trading on a pool using the SolarDex swap instruction, which transfers tokens from a user's source account to the swap's source token account and then to the user's destination token account. Additionally, yield farming is possible on SolarDex, but users must have a wallet to hold their money. SolarDex uses Solana, which offers a variety of non-custodial wallets for keeping cash, including the Project Serum team's Solardex wallet, which is highly compatible with most projects currently live on Solana.

The Use Cases of Solar Tokens

Solar Token is the official Solana SPL Token on Solar Dex exchange with a total supply of 100 million tokens, and it cannot be minted. Users can cover their exchange fees, participate in farming or staking, enter the lotto (similar to PancakeSwap's lotto function), participate in IDOs, and engage in governance by voting on proposed upgrades and listings.

Is Solar Token a safe investment option?

Solar Token is backed by Solar Dex, a completely decentralized exchange. The exchange's smart contracts and application undergo rigorous auditing from the world's top auditors before they are made public. Since there is no central entity controlling any part of the exchange, there is no risk involved. Additionally, the Automated Liquidity Lock feature provides users with more confidence to trade in a risk-free decentralized world.

What is the aim of Solar?

Solar aims to provide a decentralized platform, SolarDex, that functions like a top-tier centralized investment tool while adhering to the core principles of Defi by keeping fund management completely non-custodial. Solar’s goal is to give users the peace of mind that their funds are secure. With SolarDex, any third-party manager can create and offer actively managed funds or passive, automated investment pools, enabling users to participate in a diverse range of assets and protocols, both on and off-chain, through SolarDex.

What is the fully diluted valuation of Solar (SOLAR)?

The fully diluted valuation (FDV) of Solar (SOLAR) stands at $606,687, which is based on a hypothetical scenario where the maximum of 100 million SOLAR tokens are in circulation. The actual realization of FDV depends on the emission schedule of SOLAR tokens, and it may take several years to achieve.