AAX Supports the Solana Ecosystem With $10m For Faster Adoption
London Stock Exchange (LSEG) ‘s Millenium matching engine, the parent company of AAX, has shown massive financial support for the Solana blockchain ecosystem and the projects within it to enhance its growth and rapid adoption.
LSEG, through AAX, is supporting several incentivized programs on the platform with $10 million. Such programs include staking various tokens on the ecosystem, including sol tokens.
Aside from the financial support, AAX has also listed some successful and groundbreaking Solana projects on its exchange. Projects listed include Solana token (SOL), step finance (STEP), Raydium (RAY), Audius (AUDIO), and Serum (SRM).
AAX Lists the Most Liquid Solana Tokens On Its Futures
Once the listing is complete, AAX plans to offer several lucrative high-interest savings plans that offer huge rewards to Solana project stakers. Also, AAX users will be given a 50% discount to buy all Solana project tokens, including SOL itself, during the private launches every fortnight.
The icing on the cake is that AAX doesn’t charge any fee on SOL trades. As a sign of full support for Solana, AAX plans to conduct several airdrop events and list tokens of Solana projects with highly applicable use cases.
Solana’s unrivaled node execution speed and network throughput make it the best Ethereum competition right now. Solana’s main objective is to be a blockchain network whose speed is like a single node. Thus, it is different from other parallelization and sharding platforms whose aim is to create a consensus of various networks to resolve the delay. Solana‘s infrastructure is suitable for advanced trading and decentralized finance.
It is also supported by a sub 500ms block time and a 61,000 TPS capacity. It even hosts few functional L1 order book exchanges in Serum. Recently, more developers have opted for Solana to develop their projects.
In his remarks, Ben Caselin (AAX’s head of research and strategy) said that “smart contract platforms are among the hot debates in the industry right now. We expect some changes to Ethereum and Binance Smart Chain’s lead at the top as similar platforms such as Solana, Cardano, and Polkadot continue to rise in popularity. As an exchange, we want to keep ourselves abreast of these changes so that our users can seize any opportunities easily and quickly.”
The Solana support fund coincides with the time when AAX exchange is experiencing a fast growth rate. Since the beginning of this year, AAX’s monthly active users have increased by over 200%. AAX has chosen to use the excess revenue to support promising networks and promote its products.
What’s AAX?
AAX is a leading cryptocurrency exchange firm based in the U.S. The over 500,000 active users on its platform prove that the exchange’s crypto services can be fully trusted.
With parent support from LSEG technology, AAX offers various top-rated crypto-related services such as API connectivity, savings products, P2P fiat trading, and futures contracts. Its Over-the-Counter (OTC) platforms (also called fast buy platforms) help users purchase bitcoin easily; it also supports more than 21 fiat currencies.
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