As market conditions rebound with Bitcoin surpassing $62,000, Solana's SOL/ETH exchange rate hits historic highs, reigniting debates about its potential as an "Ethereum killer." While Ethereum's restaking protocols have flourished since last year, Solana's ecosystem now welcomes Solayer—a groundbreaking restaking protocol attracting institutional interest, including investment from Binance Labs.
What Is Solayer?
Solayer emerges as Solana's premier restaking protocol, securing funding from notable investors like Solana Labs co-founder Anatoly Yakovenko and Binance Labs. Yi He, Binance co-founder, praised Solayer's growing influence in enhancing Solana's ecosystem vitality.
Key Metrics (As of August 9):
- Total Value Locked (TVL): $160 million
- Unique Deposit Addresses: 80,000+
- Supported Assets: Native SOL, mSOL, JitoSOL, INF
With new funding, Solayer aims to:
- Expand its team and integrate new protocols
- Develop solutions for Solana's network congestion
- Launch Phase 2 products enabling SOL staking for dApp security and bandwidth
👉 Discover how Solayer compares to EigenLayer
Founding Team
- Rachel Chu (Co-founder): Former SushiSwap core developer, CEO of Vibe
- Jason Li (Co-founder): UC Berkeley CS graduate, MPCVault founder
Solayer's Restaking Mechanism
Solayer leverages Solana's staking economy to:
- Decentralize Validation: Users stake assets to bolster network security
- Generate Yield: Earn APY via MEV-boost and delegated assets
- Support dApps: Allocate bandwidth like "highway lanes" for optimized throughput
Technical Analogy:
Solayer acts as the toll coordinator between:
- Cars (dApps) needing transaction bandwidth
- Highway lanes (validators) with tiered security levels
- Toll operators (restakers) earning project tokens
Key Innovation: Endogenous AVS
Unlike EigenLayer's exogenous AVS (oracles, rollups), Solayer introduces endogenous AVS—native Solana programs using SOL PoS to enhance:
- DApp security
- Transaction throughput
- Network efficiency (e.g., exchanges, NFT markets)
Restaking Progress
Solayer's phased incentive program:
- Epoch 0-1: 9,000+ addresses, $50M TVL cap
- Epoch 2-4: No TVL limits, sSOL becomes transferable
- Current: Users leverage DeFi strategies with unlocked sSOL
How to Restake with Solayer
- Connect Wallet (Phantom, OKX, etc.)
- Link Social Accounts (Optional Discord)
- Deposit Assets (10+ SOL grants referral link)
- Earn 8.12% APY on SOL deposits
Challenges & Opportunities
Challenges:
- Debated Necessity: Solana's integrated blockchain vs. Ethereum's modular design
- Security Risks: Potential protocol exploits or "nested" staking vulnerabilities
Opportunities:
- Binance Labs Backing: Accelerates ecosystem integration
- dApp Support: Could solve Solana's congestion/MEV issues
- Future Vision: Becoming "cloud infrastructure" for scalable dApps
👉 Why Solana's restaking matters for DeFi
FAQs
1. How does Solayer differ from EigenLayer?
Solayer focuses on endogenous AVS (Solana-native programs) versus EigenLayer's exogenous AVS (external systems like oracles).
2. What assets can I stake on Solayer?
Currently: SOL, mSOL, JitoSOL, and INF.
3. Is Solayer audited for security?
While details aren't public, Binance Labs' investment suggests rigorous vetting.
4. How do I maximize rewards?
Deposit 10+ SOL for referral bonuses and complete epoch-specific tasks.
5. Can I unstake assets anytime?
sSOL becomes transferable in later epochs, enabling flexible DeFi strategies.
6. What’s Solayer’s long-term goal?
To be Solana's core restaking layer, solving congestion while boosting dApp performance.