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SOXY Token aims to enhance the functionality of the Solana blockchain by focusing on increased transaction speeds and reduced costs. As a layer 2 solution, it addresses the inherent congestion issues that arise due to the growing popularity of the Solana network. This congestion is largely a result of the rapid growth in transaction volume, particularly driven by the surge of meme coins and high trading activity.
Furthermore, SOXY positions itself to attract user investors interested in both practical utility and passive income opportunities. The staking and governance aspects of SOXY are particularly interesting to those looking for ways to earn returns passively.