What is Solanium? Everything you need to know about SLIM

In the past, new ideas raised funds by directly going to the investors and introduced them to how potential the idea was. However, in the crypto world, seeking funds and support is far easier since everything is decentralized and transparent.

In 2021, the Solana ecosystem skyrocketed and emerged to be an outstanding blockchain platform that has excellent features such as scalability and high-speed transactions. In that ecosystem, Solanium leveraged multiple prominent projects achieving high ROI.

The article below will provide all the detailed information about Solanium, including:

• What is Solanium and the SLIM token? How does it work?
• Specific details about SLIM token and it’s tokenomic including its up-to-date price, key metrics, distribution and use cases.
• How to get a SLIM? Where to store it?
• Solanium roadmap and updates & details about team, investors and partners.

Let’s get started!

What is Solanium?

Solanium is an IDO platform that organizes fund-raising events for new projects. On the Solanium platform, investors can participate in the public token sale of projects to earn maximum profits and minimum risks.

With the easy-to-use UI and UX, Solanium is now one of the most successful launchpads on Solana, showing the ability to accelerate new projects. The Solanium team plans to build an all-in-one platform on Solana that supports multiple wallets, a DEX, and portfolio management.

How does Solanium work?

Solanium is a launchpad using the tier system that requires users to hold xSLIM tokens to participate in IDOs. xSlim token is the non-transferrable governance token of the platform. 

To earn xSlim, users have to stake SLIM-LP or SLIM tokens for a specific lock-time (maximum 1 year). SLIM tokens are the Solanium utility token and it has a 1x multiplier in the stake pool.

SLIM-LP tokens are rewarded to Liquidity Providers in the SOL-SLIM Pool on Raydium. The LP token represents the proportional share of LPs in the total liquidity on Raydium. 

With SLIM-LP tokens, holders are offered a 2.5x bonus multiplier (weight) while staking SLIM is only a 1x multiplier. However, there’s a risk of Impermanent Loss, which should be put into consideration before providing liquidity.

If holders stake their tokens ahead of time, they can earn some bonus xSLIM tokens. Moreover, staked tokens can only be withdrawn when the chosen lock-time has ended. 

If tokens are staked for the maximum 1 year period, the reward ratio will be 1:1. This means 1 staked SLIM = 1 xSLIM and 1 staked SLIM-LP = 2.5 xSLIM. And the rewards will incline as the lock-time gets shorter.

Tier 1, Tier 2, and Tier 3 have the lottery ticket system, which means participants are not guaranteed to be in the token sale but they are randomly selected. The more tickets participants have, the higher the chance they win a token allocation.

Tier 4 and Tier 5 are guaranteed allocations that benefit investors the most.

Solanium has the Fee Distribution mechanism that incentivizes xSLIM holders with platform and pool fees. To clarify, 2% of projects’ raised funds will go to xSLIM holders and 2% of IDO tokens will be transferred to the Governance Treasury of Solanium. The treasury is governed by xSLIM token holders.

If there are remaining unsold tokens, the project will decide to distribute them via airdrop, second round, or FCFS, etc.

Other DeFi products of Solanium such as DEX or Portfolio Management haven’t been released and still have little information. We will update this article when there’s any news.

What is SLIM Token?

Solanium has the SLIM token as its SPL token on the Solana blockchain. It has the main function to be staked to earn xSLIM tokens determining which tier the holders will be in.

Detailed information about SLIM Token

SLIM Key Metrics

• Token Name: Solanium.
• Ticker: SLIM.
• Blockchain: Solana.
• Token Standard: SPL.
• Contract: xxxxa1sKNGwFtw2kFn8XauW9xq8hBZ5kVtcSesTT9fW.
• Token Type: Utility.
• Max Supply: 100,000,000 SLIM.
• Circulating Supply: 46,000,000 SLIM.

SLIM Token Allocation

The SLIM Token has a total max supply of 100,000,000 tokens distributed as follows:

• Team: 20%.
• Company Reserve: 25%.
• Seed: 5%.
• Private: 15%.
• Public: 5%.
• Liquidity: 15%.
• Marketing, staking, trading rewards: 10%.
• Advisors: 5%.

SLIM Token Sale

Solanium raised a total of $3.5M after Seed Sale, Private Sale, and Public Sale.

SLIM Token Release Schedule

SLIM Token Use Case

Solanium tokens are used in many cases, as follows:

• Staking: SLIM can be staked to earn xSLIM tokens for the IDO registration. And xSLIM holders can be rewarded with Fee Distribution from platform fees and pool fees.
• Governance: Firstly, governance will be implemented as a combination of a centralized solution and blockchain voting in a centralized app since they want token holders to engage in the system as soon as possible. The voting strength depends on the amount of xSLIM tokens users have when voting.

How to get SLIM Token

You can get SLIM tokens on various exchanges:

• CEXs: Gate.io and KuCoin.
• DEXs: Raydium.

How to buy SLIM tokens on Coin98 Exchange

You can buy SLIM token on Coin98 Exchange by clicking the swap button at the bottom of this article and following these simple steps:

Step 1: Connect to the Coin98 Extension Wallet.

Step 2: Select the Coin98 Exchange Solana.

Step 3: Choose coins/tokens for trading:

• Search SLIM.
• If the result does not come up, you can paste the contract of SLIM into the search box: xxxxa1sKNGwFtw2kFn8XauW9xq8hBZ5kVtcSesTT9fW;

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

How to store SLIM Token

You can store, send, receive SLIM Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with SLIM on Coin98 Wallet are as follows.

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search SLIM Token.

Step 3: Click on the correct result, copy the wallet address and send SLIM to this address.

Roadmap & Updates

Q2 2021

• Base platform launch: new website, tradable DEX UI.
• Beta tester incentive program.
• Public Token Sale.
• Liquidity Provider incentive program.

Q3 2021

• Token staking launch.
• The first phase of Solanium Pools.

Q4 2021

• The second phase of Solanium Pools (extended functionalities).
• Start developing Solanium Governance.

Q1 2022

• The first phase of Solanium Governance.

Team, Investors, and Partners

Team

Updating...

Investors

Solanium is backed by multiple big Venture Capitals as in the following picture.

Partners

Apart from projects looking for funds, Solanium forms a profound partnership with Solana, the blockchain on which it is built. Solana has a strong network effect since every lego is connected together via collaborations and partnerships. It enhances the exposure of the Solana blockchain, sharing a mutual goal that the entire ecosystem will bear fruit.

Is Solanium (SLIM) a good investment?

As mentioned, Solana has a huge community and many strong supportive organizations, resulting in the success of every project inside the ecosystem. Especially, the launchpad sector has been gaining the most attention of the community since it pays high yields with low losses. Solanium is a good example of the pioneer IDO platform. There are some key highlights from Coin98 for investment considerations:

• Solanium is built on Solana so it inherits all advantages of Solana blockchain technologies and the existing network around the ecosystem. It is undoubted that the initial success of Solanium derived from the supportive Solana community and investors.
• A minimum amount of 100 xSLIM is required to have a chance to win a token allocation. This means almost everyone can participate in the IDO, strengthening the exposure of both projects and the Solanium platform.

To evaluate any IDO platform, ROI (Return On Investment) and raised funds are the most important criterias. Since Aug 2021, Solanium has launched 5 projects, showing the productivity and the demand for funds from new projects on Solana. And now there are 3 projects pending to be launched in the next 2 weeks. From customers’ perspective, it seems to be an iteration of projects, casting the constant hype of the community.

In the Solana ecosystem, the DeFi part is considered almost completed. There are launched projects covering every important sector in DeFi. This makes the launchpad market somewhat saturated. ROI inclines after each project, indicating the losing interest in IDO of the community.

Solanium, Raydium, and other launchpads are expanding to accelerate NFT projects. In my opinion, NFT is a fruitful trend since Axie on Ethereum gained a leading position in the ecosystem world. If Solanium can catch the NFT wave, it will be an opportunity for investors.

To conclude, Solanium is creating a solid position in the Solana ecosystem, incentivizing the Solanium team to be determined on the journey. In the future, they promise to carry out platform upgrades and release new DeFi products so it’s worth following the project. And as usual, whether it is worth investing or not, Do Your Own Research before buying and be responsible for your investment.

Similar Projects

The Solana ecosystem is huge now, forming a network effect helping projects inside the ecosystem thrive and flourish. In the launchpad sector, there are projects already on the Solana mainnet, similar to Solanium, namely:

• On Solana: Raydium, Solstarter, Solster, and Bonfida are Solanium’s direct competitors in the Solana ecosystem. This indicates that the ecosystem is expanding in both quality and quantity.
• On other blockchains: MakerDAO, Polkastarter, and Binance Launchpad are leading the launchpad sector.