All You Need to Know About Solana and Where to Buy It

Founded in 2017 by Anatoly Yakovenko, Greg Fitzgerald, Raj Gokal, Stephen Akridge, and Zed Zed, Solana, a decentralized blockchain built to enable scalable and user-friendly apps in the world, is positioned as the fastest blockchain in the world and the fastest-growing crypto ecosystem. 

Headquartered in the San Francisco Bay Area, West Coast, United States, Solana is also known as Solana Labs and has the legal name Solana Labs Inc. To date, from a total of six funding rounds, Solana has raised nearly $336 million. It had its latest funding round on June 9th, 2021, from an ICO. 

Solana has 27 investors backing it, including Memetic Capital, Blockchange Ventures, Coin Fund, Multicoin Capital, CoinShares, ParaFi Capital, Sino Global Capital, and Polychain. The most recent investors of Solana are Collab+Currency and Alameda Research. 

Solana’s Current Standing in the World of Crypto

With more than 1,000 live transactions per second and more than 1,000 validator nodes on average, Solana offers its service at a negligible rate of $0.00025 per transaction. It has more than 400 projects spanning the domains of decentralized finance, NFTs, Web3, and more. 

With Solana, you can scale for global adoption without having to deal with fragmented Layer 2 systems or sharded chains. Once you integrate it, you would never have to worry about scaling again, as it would ensure composability between ecosystem projects through a single global state. Apart from costing very less Solana also ensures speed at an unmatched level, with 400 millisecond block times. 

Another important factor driving growth rapidly in Solana’s ecosystem is its quality of censorship resistance. The network always stays open for applications to run freely and transactions unhindered. 

Solana Coin (SOL)

The native token of Solana is SOL, which currently has a total supply of more than 502 million tokens and a circulating supply of more than 286 million. The growth in Solana’s prices has been astounding over the past year. A little more than a year ago, on May 11th, 2020, the price of Solana was $0.5052. Since then, it has increased to more than $80 in price. 

As per the latest available data, the price of Solana on August 21st, 2021, was $81.81. It has been Solana’s highest-ever price so far. 

Where Do You Get Solana?

Solana is available in almost all the leading crypto exchanges across the world. For instance, Binance has Solana trading pairs with USDT, USD, BUSD. You can buy Solana for USD from Coinbase and FTX. Huobi Global also supports Solana trading pairs with Tether (USDT) and more. 

Solana on AAX

If you are searching for an efficient avenue to buy Solana, AAX could be one of the exchanges ranking at the very top of your list. Solana has its trading pair on AAX with USDT, on the spot market, as well as on the futures market. 

The functional qualities of AAX, as an exchange, are multiple and diverse. Solana uses LSEG technology and can match orders with ultra-low latency. It is CCSS-compliant and ensures the safety of funds and client data. The deep liquidity and tight spread of the exchange ensure that you get to trade futures with leverage and minimal slippage. With 99.999% uptime, the AAX exchange has its customer service available 24/7. With a wide range of order systems, trading tools, and risk management provisions, the AAX exchange is ready for use on websites, mobile applications, API, and FIX. 

AAB, the native token of AAX, was launched in April 2020. Within three days of its launch, AAB managed to raise more than US$9 million. Apart from other privileges, the ownership of the AAB token ensures that you get discounts on trading. 

$10 Million Reserved For the Solana Community

One of the most enticing aspects of AAX that helps it stand out from every other exchange offering Solana is its $10 million worth of reserves for the Solana community. 

AAX has reserved a total of $10 million in support of diverse incentive programs, encouraging the staking of Solana and its ecosystem tokens. AAX has listed some of the most successful and innovative Solana projects, including Serum, Audius, Raydium, and Step, along with the SOL token. The most liquid tokens will eventually move to AAX futures. 

AAX will also offer a range of enticing, high-interest savings packages that would reward the stakers of Solana on AAX. During its bi-weekly campaigns, users will be able to purchase Solana and related ecosystem tokens at a hefty discount of 50%.