According to TechFlow, on August 7, The Block reported that Binance Labs has invested in Solana’s re-staking protocol Solayer, and the specific amount has not been disclosed. According to DeFiLlama data, Solayer is currently the 13th largest Solana protocol.

Solayer is a Solana re-staking protocol that allows users to earn additional rewards by re-locking their staked assets in different protocols. Solayer first converts SOL into an intermediary form, sSOL-raw, and then interacts with Solayer's re-staking pool managers to convert it into sSOL to maximize returns.