Solidray, a decentralised crypto platform that provides utilities ranging from Web 3.0 social media to NFT marketplaces, has launched an ICO of its Solidray token (SRT), that offers an opportunity for crypto enthusiasts to be part of the platform at a discounted price.
There will be a total supply of 10 billion SRT tokens, out of which, only 40% or 4 billion SRT tokens are being offered in the ICO sale. The SRT token supply in circulation will be 6.5 billion.
Ireland-based Solidray is backed by a team of over 20 domain experts and professionals from Africa, Asia and Europe, with Evans Joseph as its founder and CEO. It offers access to all cryptocurrencies with a transparent user interface for comfortable and easy transactions.
The Solidray code has been audited by Solidproof, a service that audits smart contracts and can easily detect loopholes and potential vulnerabilities in any blockchain project manually and automatically. The professional report of the auditors confirms the reliability of Solidray and the technical compliance of its blockchain align with the requirements of a secure crypto market.
The SRT token powers Solidray’s wide array of products and services. With the objective to be the leading ecosystem for all crypto utilities, Solidray has six projects running on its ecosystem.
The first one is SolidSocial, which is a Web 3.0 social media platform that offers people to communicate, grow their network, explore and connect with family and friends. Its functionalities are specially created to cater to all blockchain needs and not limited to news, research, education, community building and networking.
SolidSocial will also offer advertising opportunities to those targeting a larger crypto audience. The Lite version of SolidSocial is already active with over 12,000 active users and the Web 3.0 version will be launched in the next few months.
Then, there will be a peer-to-peer marketplace for NFT within the Solidray ecosystem, followed by Raywallet, a two-in-one multichain wallet with NFT storage to assist investors have better cross-chain investments.
There will also be a DEX within the platform, that will enable users to stake and exchange cryptocurrencies without intermediaries and through automatic regulations. The Solidray DEX will not store users’ funds or data and will offer staking and swapping, speedy transactions along with multi-wallet connections.
Since the exchange doesn’t have a single repository to access all funds, it is nearly impossible to hack it, thereby minimising the risks of third parties gaining access to users’ assets.
As decentralised exchanges are not governed by any central authority, there are no typical registration requirements to use the platform. Moreover, with Solidray’s DEX, users can trade cryptocurrencies that were hitherto difficult to exchange elsewhere, either on a DEX or a Decentralised Application (DApp) built in conjunction.
The Solidray platform will also have Launchpad, a hub for successful and profitable crypto projects linking investors and users on one secure platform. Solidray’s team of experts will carefully select and vet DeFi projects, before promoting them on the platform. The aim is to protect the investors with a greater sense of security and a better change to succeed.
Users who stake can participate in Solidray’s monthly initial DEX offering (IDO) and those who hold over $5,000 worth of SRT tokens will have a guaranteed spot, while others will be selected randomly via draws.
Finally, Solidray will have its own centralised exchange (CEX), which would facilitate buying, selling, staking and trading of tokens without the typical manipulations of the centralised world. it will enable its users to exchange their assets seamlessly at any time and provide a way to move large amounts of funds in and out within minutes. Besides, Solidray CEX will also offer other features such as margin trading, crypto derivatives trading, exchange staking and margin lending, among others.
Among the key benefits for SRT holders is token burning and staking. The revenue from SolidSocial will be used to buyback and burn SRT in order to create scarcity and increase the value of the token and a bit of price stability.
Finally, in terms of tokenomics, there will be a Buy tax of 10% and a Sell tax of 12% on each transaction. Both the tax components include 2% each to be distributed to holders as reflections.
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