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Solayer is a restaking protocol, similar to EigenLayer, but on the Solana chain, supporting deposits of multiple Solana LSTs, like $jitoSOL, $BGSOL, own LST $sSOL, and more. It has also recently introduced its own yield-bearing stablecoin $sUSD, backed by the US T-bill, bringing RWA tokenization to Solana.
$LAYER is going to be a native token of the platform, powering its InfiniSVM and governance layers, by allowing users to participate in community votings. On August 27th, 2024, the platform closed a $12M Seed funding round from Binance Labs, Polychain Capital, Hack VC, Maelstrom, and others.