Main attractions:
1. Binance Labs Investment:
- Binance Labs, the venture capital and incubation arm of Binance, has invested in Solayer, a network refactoring on Solana.
2. Solayer's Goal:
- Solayer focuses on securing on-chain decentralized applications (dApps) on Solana by improving network bandwidth and L1 security.
- The goal is to provide dApps on Solana with greater ability to secure block space and prioritize transactions.
3. Solayer's Approach:
- Solayer uses the economic principles of proof of stake to extend the security of the Solana base layer to decentralized systems and dApps.
- Users can stake assets to decentralize Solana and earn yield through MEV-boost and Authorized Validation Services (AVS).
4. Initial Achievements:
- In less than 60 days since phase 1 launch, Solayer has become the 13th largest protocol on Solana, with over $150 million in Total Value Locked (TVL) and over 70,000 unique deposit addresses.
5. Future Plans:
- Using new funds from Binance Labs, Solayer will scale the team, bring new protocols into the ecosystem, and become a core primitive of the Solana blockchain.
- The team will focus on researching solutions to address Solana's network congestion issues using refactored infrastructure.
- Solayer also plans to deploy the entire system, allowing stakers to use SOL to secure Solana and dApps to secure network bandwidth and transaction throughput.
- Focus on recreating common assets to secure exogenous AVS and systems outside of Solana.
6. Comments from Leaders:
- Yi He, Co-founder of Binance and Head of Binance Labs, expressed Binance Labs' commitment to supporting early-stage projects advancing the crypto ecosystem.
- Jason, Co-Founder of Solayer Labs, shares his excitement about the investment from Binance Labs and his vision to strengthen the Solana ecosystem.
Conclude:
- Binance Labs' investment in Solayer is a strategic move to boost the Solana ecosystem, ensuring network bandwidth and security for dApps. With the support of Binance Labs, Solayer plans to expand and improve network infrastructure, bringing greater value to the Solana community.
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