The SOLX token will be used for governance rights, platform transaction fees, and staking on the Soldex platform.
Evan Luthra, a well-known Indian entrepreneur, speaker, and influencer, has invested in Soldex, an upcoming third-generation cryptocurrency exchange. Notably, Soldex is the first decentralized exchange of its kind, providing non-custodial crypto exchange services.
Luthra, a young tech enthusiast, has invested in other tech companies, particularly crypto and blockchain-related ones. According to reports, Luthra joined the crypto community in 2014 and has since invested in several crypto startups. He recently participated in a seed round for Hashgraph.com, a cryptocurrency company.
Luthra is a frequent speaker who has appeared on stages such as TedX. He has also given speeches for global economic organizations such as the United Nations, Nielsen, Blockchain Life, and Google, among others.
As a result, despite his youth, he has earned respect for his ability to deliver.
Luthra has gained popularity on various social media platforms. For example, he has over 2 million Instagram followers, and he uses the platform to educate his followers about cryptocurrency markets.
Luthra is following in the footsteps of most family offices by investing in crypto-related businesses, particularly promising Defi apps. Furthermore, most Defi platforms’ returns have outperformed traditional investment opportunities.
However, the amount of capital invested by Luthra in the Solana-based crypto startup Soldex is unknown. Luthra is likely to have chosen a Solana project due to its scalability and the massive influx of institutional and retail investors onto the Sol blockchain.
The Defi Ecosystem and Soldex
Soldex is entering a highly competitive market that has long been dominated by other crypto exchanges and DEXs. However, according to its Whitepaper, users can expect top-tier services from Soldex.ai.
“By serving as a foundation layer for settlement, market making, custody, and liquidity, the soldex.ai protocol will power the next wave of flexible financial markets. According to Soldex’s whitepaper, “the new wave of market makers will own unique algorithms, customize their trading strategy, and adjust their desired risk exposure while maintaining custody of their funds.”
For most institutional investors, the Defi ecosystem has emerged as a lucrative market. According to CoinGecko market analytics, the total Defi market cap is $123,340,074,982. Uniswap controls up to 10% of the industry.
Defi platforms on the Solana ecosystem, on the other hand, have grown rapidly in recent weeks. As a result, the Sol value has skyrocketed to new highs. Soldex, on the other hand, will use its own token, SOLX. The SOLX token will be used for governance rights, platform transaction fees, and staking on the Soldex platform.