Solanium (SLIM) is a decentralized platform that focuses on fundraising and trading on the Solana blockchain. Solana is a decentralized blockchain created to develop user-friendly apps in the world. The protocol allows users to participate in public raises of top-tier projects, stake their tokens, trade on a decentralized exchange (DEX), get involved in the management, and enter the active and growing community. The Solanium network aims to make the Solana blockchain available to everyone, focusing on the user interface (UI) or user experience (UX) and alliances and integrations in the Solana ecosystem.
According to its whitepaper, the Solanium platform seeks to solve the centralized platform and launchpad issue. As Solanium is an open network, it allows everyone to create a pool and raise funds. Moreover, the Solanium Pools platform has many other products in the pipeline.
Further, the SLIM is an SPL token on the Solana blockchain. SPL token is a standard interface designed to create fungible and non-fungible tokens in the Solana blockchain. The token holders can stake their SLIM tokens to receive xSLIM. The xSLIM entitles the token holders for fee distribution and airdrops, unique pool advantages relying on their tier.
SLIM tokens can be locked with a maximum lock time of one year. By locking the tokens in the staking contract, the token holders acquire an xSLIM balance. The xSLIM tokens are not transferable or tradeable. xSLIM token also permits the user for voting rights and early pool credentials. The voting rights are based on the number of xSLIM tokens that the user holds when casting a vote.
The staking tool connects the number of tokens staked with their own specified lock time. Moreover, the staking is helpful enough to reward dedicated supporters.