Solayer (N/A)

Solayer is the first and the biggest in terms of TVL restaking protocol on Solana. It aims to enable a higher degree of consensus and blockspace customization for application developers via a shared validator model.

Although such technology isn't new, since the crypto market already has Ethereum and asset-agnostic restaking protocols such as EigenLayer, Symbiosis, or Karak Network, these features weren't available for Solana stakers as all mentioned platforms were designed for EVM-compatible chain networks. Now, Solayer Labs brings restaking to the $70 billion market of Solana stakers and holders.

It offers the same features as Ethereum restaking, such as enabling dApps and L1 networks to leverage other networks' economic security while offering new yield opportunities to Solana stakers. Simply put, through a shared security mechanism, it enables users to contribute Solana liquid restaking tokens into the protocol and economically power Solayer's shared security model while receiving additional APR and a liquid restaking token, $sSOL, which is price-pegged to $SOL.

Meanwhile, the web3 projects are now able to connect to the protocol and acquire this power in order to secure its dApps or even L1 networks. For utilizing the protocols, those dApps pay fees to the Solayer restaking platform which are later redistributed into the $sSOL LRT that grows overtime. 

🪙 Solayer token: The project officially didn’t announce release of its native token. However, based on token releases of other LR platforms, EigenLayer, its token will solely power Solayer’s governance allowing users to participate in decentralized voting. 

Still, the Solayer are not running any points farming campaigns or other contest events that might implicitly hint on potential Solayer airdrop. Nevertheless, considering rising interest among the crypto community to Solayer crypto project, our team decided to make an in-depth research and found there some important pros and cons of the protocol:

✅ Solayer pros:

• Highly demanded product and the first restaking protocol on the Solana blockchain, potentially bringing over $70 billion to the restaking market;
• The project team has presented a roadmap, though it lacks clear deadlines;
• Achieved over $160M TVL and 80K users since the protocol's launch in mid-June 2024;
• Security assessment conducted by top-tier auditor;
• High PR, growth, and Influencer Marketing scores;
• Above-average SMM, SEO, and marketing infrastructure;
• Backed by top-tier funds, including Binance Labs;
• Diverse network of partners collaborating with the project;
• One of the co-founders has significant experience as an investment analyst at Bulgaria's largest bank, UniCredit Bulbank.

❌ Solayer cons: 

• No tokenomics or even an implicit hint regarding a potential token release;
• Undisclosed amount of funds raised;
• Lack of work experience in top-tier companies among other core team members.