Solayer (LAYER)

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 block space 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 over time. 

What’s more, Solayer recently introduced its own yield-bearing stablecoin, $sUSD, backed by the US T-bill, using a similar mechanism to the Usual protocol but on the Solana chain. As of Jan 2025, the projected APY of $sUSD is near 4%, while the TVL equals almost $31M.

🪙 Solayer token: Recently, the project announced the release and token sale of its native $LAYER token which will power its InfiniSVM ecosystem and governance layer. While there is still no info on tokenomics, according to Buidlpad Solayer allocated around 3% of the total supply for sale. 

There’s also been confirmed info on the Solayer Season 1 claim, potential hinting on the airdrop, but still, until there are no tokenomics and further info provided yet, it is hard to provide any details. Finally, on February 10th, the Binance exchange announced the $LAYER HODLer drop and listing. 

Considering the rising interest among the crypto community in Solayer crypto project, our team decided to conduct 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;
• Decent TVL ($350M), suggesting smaller competition and higher airdrop rewards;
• Binance airdrop;
• Relatively low token inflation rate (near 1.65% monthly);
• 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: 

• Undisclosed amount of funds raised;
• Most of the tokens listed on Binance, especially on Binance futures dumped significantly;
• Lack of work experience in top-tier companies among other core team members.