NewsBlockchainSolar Dex to relaunch on Quai Network

Solar Dex to relaunch on Quai Network


While many solutions for blockchain scalability have been proposed, they remain unable to crack the blockchain trilemma, sacrificing security and decentralization. Quai is the first blockchain protocol that is simultaneously decentralized, censorship resistant and infinitely scalable. Quai, in contrast to traditional cryptocurrencies, functions as a network of many interoperable blockchains braided together. Due to a breakthrough discovery that occurred during research on proof-of-work, Quai Network utilizes a new consensus mechanism, proof of entropy minima (PoEM), which eliminates all consensus-based forks and enables all Quai nodes to remain in “perpetual consensus.”

Solar Dex began as the first United States-based decentralized exchange on Solana, and will now be pivoting to build on Quai as one of its first DEXs. Due to a loss of TVL on Solana and many Solana-based projects moving strictly to NFTs, the Solar team has decided to get ahead of the DeFi curve and take advantage of Quai’s low-cost, high-speed decentralized network in order to better position Solar Dex for the next bull run. The team at Solar is building on top of Quai Network to “ensure a more sustainable future for Solar Dex.”

Roy Fardin, chief business officer, said: “After talking to the Quai Network team, we have never been more bullish about a layer 1 with scalability and its passion for growth. It was a clear eye-opener that they care about DeFi and want other projects that utilize this network to succeed. The vision behind Quai brings the best of Ethereum and Solana all together into this new network.”

Solar Dex will be reworking the DEX into several components as it builds on Quai. The DEX will not only support traditional swaps, but also add in customizable swap themes. In addition, Solar Dex’s Solar Sentries NFTs will allow staking as a yield opportunity derived by all exchange fees earned from Sentry Mode projects.

Richard, CEO of Solar Dex, said: “On top of traditional DEX swaps, Solar Dex will be adding limit orders on Quai. “We’re doing a total revamp of the website and DEX which should be very aesthetically pleasing and simplistic to onboard new users to DeFi and also Quai.”

With Quai’s Iron Age Testnet beginning in September 2023, Solar Dex will be prioritizing its deployment on Quai for the coming months. There will be incentives to beta-test Solar DEX on Quai and additional generalized rewards will be provided by Quai for participating in the Iron Age Testnet. On top of this, the Solar team will be adding a surprise feature to the DEX to build excitement for Quai’s testnet launch, as well as utilizing its incentive program to reward holders.

With backing from Polychain Capital and an expert team with backgrounds at Apple, GridPlus, Tesla, Consensys, Circle and more, Quai is excited to usher in a new generation of innovative applications that don’t sacrifice decentralization.

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