Orlando, Fl, Decentralized Finance (Defi) has been a game changer when it comes to cryptocurrency but has been met with unfortunate flaws. There have been many projects known to pull off the infamous rug pull schemes. Exchanges like Pancakseswap and Uniswap have billions of dollars in volume and are making a tremendous amount of profit but fail to implement any safeguards for their customers.
This is where Solar Dex comes into place. Solar Dex promises to put an end to all rug pulls by making the Solana network the de facto place for investors. “Ethereum and Binance Smart Chain at this point are launchpads for meme and scam tokens. Solana is still new in this space and has a lot of potential for growth. By incorporating automatic liquidity locks built into our exchange we can help prevent these rugs pull developers from migrating to Solana” – Richard (CEO of Solar Dex).
Solar Dex’s main goal in the Defi space is to become the Uniswap of Solana. Most of the exchanges on Solana run a similar lay out to Centralized exchanges. The need for simplicity needs to come to Solana. Most of the investors that are in the Defi space are generally new to cryptocurrency and need a simplified way of investing.
Besides the automatic liquidity lock pulls that are in place, Solar plans on showing investors how much liquidity is in the pool before they make a trade. They are adding a “Liquidity Cap” value into their exchange as well. “Market caps are great for tokens outside of Defi, but it’s unrealistic in justifying a projects value. We did an experiment on Binance Smart Chain where we created a token with a 100 trillion supply and added 1 token into liquidity tied into 1 dollar. This gave us a valuation of a 100 trillion-dollar marketcap on chart sites. This didn’t make sense, even though the value was 100 trillion, we only had a dollar in liquidity. This is why it is important to have that “Liquidity Cap” up front and centered for investors” – Richard (CEO of Solar Dex).
Besides the exchange that is coming out in the near future, Solar Dex will be holding a pre-sale in the up-and-coming weeks for their native token Solar. Solars primary use case will be associated with governance, fees, a lottery system, and so much more. The funds raised will be used on a Certik audit, liquidity and marketing.
Solar is an idea that came into fruition only two weeks ago and has already been able to secure a partnership with J.P Deese & Associates. They plan on working hand in hand with their firm to make sure Defi is a safe manner for every investor. As Solar plans on becoming the first U.S based Solana exchange, their overall goal is to make sure the Defi Space is safe for everyone.
Solar Dex PO Box 76231
Orlando, Fl 32789
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.