According to TechFlow, Solana's ecological re-staking protocol Solayer has completed a $12 million seed round of financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes' family office Maelstrom. The project plans to expand the team, integrate new protocols, and prepare for the second phase of the platform's development. Its native token is currently "under design."
The financing, completed in May, was structured as a Simple Agreement for Future Equity (SAFE) plus token warrants, giving Solayer a valuation of $80 million. Binance Labs’ previously announced investment was also part of this round.
Solayer imitates the Ethereum re-staking protocol EigenLayer, allowing users to earn additional rewards by re-locking staked assets. Unlike other platforms, Solayer plans to start with native Solana chain dApps, helping them reserve block space and prioritize transactions based on the amount of stake entrusted to them.
Currently, Solayer claims to have over $186 million re-collateralized from around 104,500 depositors.
