What is Solayer (LAYER)?
Solayer is a restaking and liquid restaking protocol designed for Solana, enabling users to stake their SOL or select Solana-based liquid staking tokens (LSTs) to generate rewards by supporting various AVS and related blockchain solutions.
It is a native restaking platform on Solana that extends proof-of-stake principles to enhance security for decentralized systems and applications (dApps). By joining its decentralized validator network, users contribute to Solana’s security and functionality. Staking assets on Solayer supports network decentralization while earning rewards through MEV-boost and Actively Validated Services (AVS). Focused on securing Solana-based dApps, Solayer ensures efficient transaction inclusion and block space allocation, strengthening the network’s foundation.
Launched on Solana’s mainnet in August 2024, Solayer was developed with the involvement of Solana co-founders Anatoly Yakovenko and Raj Gokal. It is reportedly the first and currently the only native restaking and liquid restaking solution within the Solana ecosystem, marking a significant advancement in DeFi on the network.
The LAYER token serves as a governance asset, allowing holders to vote on protocol upgrades, treasury management, and key ecosystem initiatives like grants. In the future, it will enable participation in Proof of Stake consensus for decentralized verification, rewarding verifiers with block rewards. Additionally, LAYER will function as the gas token for transactions on the Solayer network, with half of the gas fees burnt, making it deflationary.
The total supply is 1B LAYER with 210M tokens in circulation at the time of writing.
LAYER is listed on Binance for trade and purchase. The current price of LAYER is updated in real-time on Binance.
