- Binance Labs invests in Solayer to boost Solana’s network, aiming to reduce congestion and enhance blockchain security.
- Solayer, now the 13th largest protocol on Solana, secured $150M TVL in 60 days, showing strong demand for its restaking services.
- Brazil’s CVM approves Solana ETF, pending B3’s nod, positioning Solana for broader global investment opportunities.
Solayer, a restaking network based on Solana, has received funding from Binance Labs, the venture financing and incubator division of Binance. By making this calculated investment, Solayer hopes to grow its workforce, integrate new protocols, and establish its authority on the Solana blockchain.
Solayer’s innovative approach seeks to mitigate Solana’s network congestion using advanced restaking infrastructure. This investment highlights the growing significance of restaking solutions in enhancing blockchain efficiency and security.
Solayer’s Rapid Growth and Impact on Solana
Besides expanding its team, Solayer is focused on launching a comprehensive system that allows stakers to use SOL tokens to secure the Solana network. Furthermore, the platform will enable decentralized applications (dApps) to secure network bandwidth and transaction throughput. Significantly, Solayer is also exploring general asset restaking to secure external Actively Validated Services (AVS) systems, a move expected to bolster the Solana ecosystem.
Moreover, the investment underscores Binance Labs’ commitment to strengthening the Solana blockchain. Yi He, Binance’s co-founder, and Head of Binance Labs, expressed excitement over this partnership, emphasizing the shared vision of delivering greater value to dApps on Solana. Solayer’s platform aims to extend Solana’s security base to other decentralized systems and dApps, enhancing the overall security and vibrancy of the Solana ecosystem.
Solayer’s Growth and Global Impact
According to DeFiLlama, Solayer has grown to become the 13th largest protocol on Solana in just sixty days after phase one was launched. The site has drawn in over 70,000 unique deposit addresses and accumulated over $150 million in total value locked (TVL). These achievements highlight Solayer’s rapid growth and the strong demand for its restaking services.
Furthermore, the Securities and Exchange Commission (CVM) of Brazil has authorized the Solana Exchange Traded Fund, pending approval from B3, the nation’s stock exchange.
This ETF, managed by QR Asset and overseen by Vortx, further emphasizes Solana’s growing presence in global markets. If launched, this fund will join a select group of SOL ETFs available worldwide.
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