On the image below, you can see the various components of Solaxy Ecosystem and how they integrate into each other. From buying SOLX on layer 1 blockchains such as Solana and Ethereum, through to bridging SOLX between them as well as integrating your SOLX into the Solaxy Mainnet via the Bridge and then utilising the L2 SOLX for the Igniter (meme coin token creation) and Netpoon (decentralised exchange – DEX) platforms.
Much more L2 functionality is available for developers to interact with ecosystem, but I will not explaining about them here. For further information regarding this, refer to the solaxy website, https://solaxy.io and their Wiki documentation at https://wiki.solaxy.io
Note, when transferring SOLX between Solana and Ethereum blockchains on L1, gas is required (in red text in image).
If you are transferring SOLX from Solana to Ethereum, Solana is used for gas
If you are transferring SOLX from Ethereum to Solana, Ethereum is used for gas
If you are sending SOLX from Solana to your L2 SOLX wallet (Backpack/Solaxy) via the bridge, Solana is used for gas
If you are sending SOLX from Ethereum to your L2 SOLX wallet (Backpack/Solaxy) via the bridge, Ethereum is used for gas
Note: the only way to get SOLX from L1 into the L2 Solaxy Ecosystem requires the use of the Bridge, found at https://bridge.solaxy.io
Once your SOLX is inside the L2 Solaxy Mainnet, all transfers between platforms such as Igniter and Neptoon, as well as transferring SOLX back out of the Mainnet to Solana/Ethereum on L1, require L2 SOLX for gas (in green text in image).
Why is Solaxy (SOLX) both on Solana and Ethereum blockchains
SOLX is available to be purchased on both Solana and Ethereum. Ethereum SOLX is predominately used for stacking purposes. Available through their website, https://solaxy.io/en/staking, users can stake their Ethereum-based SOLX to earn stacking rewards, currently available for 3 years from TGE (token launch). Solana SOLX cannot be staked (I will cover the process of staking in my tutorials). Thus, there is 2 different liquidity pools, with different market capacities, but their value is basically the same. In order to facilitate this, Solana SOLX is mintable, and during the bridging process, is either minted or burned to enable the token value to remain the same between the 2 blockchains.
What is the Contract Addresses (CA) of SOLX
CA on Solana: Cf2LnRpmcUxY8qkAyiaaPpgAtUHgzkH3tPhMAevE9zLg
CA on Ethereum: 0xe0B7AD7F8F26e2b00C8b47b5Df370f15F90fCF48