Solayer Labs launches governance token for its Solana-supported restaking system
Solayer Labs, a leading blockchain development company, has announced the launch of Solayer, a crypto restaking protocol on the Solana network. The new protocol aims to replicate the success of EigenLayer on the Ethereum network, by horizontally scaling the Solana Virtual Machine (SVM) [1].
The LAYER token is at the heart of the Solayer ecosystem. It will be distributed in three phases, with the first phase being a season 1 claim open to eligible participants and protocol partners [2]. The seed round for Solayer Labs was backed by notable investors such as Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Maelstrom [3].
The Solayer Foundation, a non-profit organization focused on scaling distributed systems, has been established to support this initiative. The Foundation's role is to support advanced research and development for the Solayer Network [4].
The total max supply of LAYER tokens is 1 billion. Distribution allocation includes 51.23% for the community and ecosystem, 17.11% for core contributors and advisors, 16.66% for investors, and 15% for the Foundation [5].
The LAYER token will have multiple uses within the Solayer ecosystem. It will be used to govern the Solayer protocol and will gain more utility as the ecosystem grows [6]. Tokens will be distributed through various channels, including restaking rewards, protocol incentives, early user and validator airdrops, and community sales such as the Emerald Card community sale [7].
The Solayer Foundation provides clear breakdowns and defined schedules for emissions and reward flows, promoting transparency and governance participation by token holders [8]. A significant token unlock event is scheduled for August 11, 2025, where approximately 27.02 million LAYER tokens (valued at about $17 million) will be unlocked [9].
Solayer Labs has also partnered with several restaking protocols on Solana, including BONK, AltLayer, HashKey, and SonicSVM. These protocols allow crypto holders to maximize their staking profits by locking their staked assets in Actively Validated Services (AVSs) on Solayer [10].
In a recent development, Solayer Labs raised $12 million in a seed round led by Polychain Capital, further bolstering the company's mission to accelerate the scaling of distributed systems, starting with Solayer [11]. The Solayer Foundation's mission is to continue this momentum, contributing to the growth and success of the Solayer Network.
[1] Solayer Labs. (n.d.). Solayer. Retrieved from https://www.solayer.network/
[2] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[3] Solayer Labs. (n.d.). Team. Retrieved from https://www.solayer.network/team
[4] Solayer Labs. (n.d.). Solayer Foundation. Retrieved from https://www.solayer.network/foundation
[5] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[6] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[7] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[8] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[9] Solayer Labs. (n.d.). LAYER Tokenomics. Retrieved from https://www.solayer.network/layer-tokenomics
[10] Solayer Labs. (n.d.). Partners. Retrieved from https://www.solayer.network/partners
[11] Solayer Labs. (n.d.). News. Retrieved from https://www.solayer.network/news
- The LAYER token, a crucial component of the Solayer ecosystem, will also be used to govern the news and advancements related to Solayer's technology within the Solana network.
- As Solayer Labs continues to partner with various technology-focused initiatives on the Solana network, such as BONK and AltLayer, the potential for news and innovations in the realm of technology is bound to proliferate.
