Solayer Labs, a leader in crypto restaking protocols on Solana, has announced the launch of the Solayer Foundation, a non-profit organization focused on scaling distributed systems. The Foundation’s efforts will center on advancing protocols that enhance the Solana Virtual Machine (SVM), supported by the introduction of its governance token ‘LAYER’.
Solayer To Scale Solana Ecosystem
The Solayer Foundation will oversee the research, development, and governance of the network. Independent directors, alongside LAYER token holders, will play a critical role in steering the Foundation’s activities.
LAYER, an SPL-200 token will initially serve as a governance tool for the restaking platform and ensure the Solana ecosystem’s growth.
Since its inception in 2024, Solayer Labs has focused on scaling the SVM. It introduced a Solana restaking standard in May. highlights of its six-month journey include:
- Over $350 million in restaked assets.
- More than 190,000 unique depositors
- Highest 12%+ native staking APY for our users, with additional AVS yield
- Product launches with 3+ leading exchanges
Solayer Labs also launched sUSD, a yield-bearing stablecoin backed by T-bills, which supports Solayer’s Savings Account. Such development has positioned Solayer as a leading real-world asset (RWA) protocol on Solana.
LAYER token will be distributed in three phases, beginning with Season 1, which rewards early adopters and protocol partners. Eligible participants–such as sSOL and sUSD users–will be notified through the Solayer dashboard. The distribution mechanism considers staking volume, time-weighted factors, and referrals.
Solayer has partnered with leading names like Sonic, RateX, Raydium, and HashKey. The Foundation strives to build a community-driven governance model while focusing on scaling Solana-based applications.
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