Solana re-staking protocol Solayer announced the establishment of the Solayer Foundation and the launch of the governance token LAYER on 1/3, and also launched the first quarter reward program.
Solayer utilizes the swQoS standard to optimize user experience
Solayer began to improve the processing efficiency of the Solana blockchain through the Stake-Weight Quality of Service (SWQoS) technical standard in May last year. Here are the differences from Proof of Stake (PoS):
PoS (Proof of Stake):
Used to select who has the right to participate in blockchain block production and verify transactions.
The purpose of staking tokens is to enhance the security of the blockchain network, and users who pledge tokens can receive block rewards.
SWQoS (Service Quality Based on Equity):
Used to allocate resources in the blockchain network or determine the priority of services, such as transaction speed, bandwidth, or storage space.
Emphasizing 'user experience', the more you stake, the more on-chain resources you enjoy.
Solayer Foundation page. Solayer collaborates with several businesses, from U.S. Treasury yield tokens to financial support.
Additionally, Solayer launched the yield-generating stablecoin sUSD in collaboration with the RWA tokenized government bond project OpenEden last October. sUSD is the first yield-generating stablecoin supported by 'tokenized U.S. Treasuries' that Solayer plans to issue on the Solana chain. Users can deposit USDC to participate in the issuance of sUSD, with participation starting at just 5 USD.
In terms of collaboration, Solayer has established partnerships with several businesses, including Sonic, Adrastea, RateX, BONK, Hashkey, Orca, Raydium, etc., and is promoting several innovations:
Allocating 100 million USD to Sonic as support.
Launching Adrastea's re-staking program.
Introducing innovative tokens like BGSOL, BNSOL, BBSOL, etc.
Launching sSOL and sUSD on platforms like Raydium, Kamino, Orca, etc.
The Solayer Foundation focuses on expansion and governance.
According to Solayer's official statement, the newly established Solayer Foundation is an independent non-profit organization aimed at accelerating the development of the Solayer ecosystem. The foundation's mission is primarily divided into two directions:
Enhancing the transaction processing efficiency of Solana applications.
Launching hardware-focused SVM.
The Solayer Foundation will continue to support innovative research and development efforts, governed by an independent board, while holders of the governance token LAYER can participate in decision-making, including setting foundation goals, funding uses, executive appointments, etc.
LAYER token is the governance core of Solayer.
Solayer also announced the launch of the governance token LAYER based on the SPL-2020 standard, serving as a core tool to accelerate ecosystem growth and protocol development on the Solayer platform. In the future, more mechanisms will be introduced to enhance the value of LAYER within the Solayer ecosystem.
Launch of the first quarter reward program
The distribution of LAYER tokens will be carried out in three phases, with the first phase targeting the following categories for rewards:
Users participating in sSOL, endo, and exo AVS staking.
Users using sUSD.
Whitelisted ecosystem partners.
To ensure fairness, Solayer's reward mechanism will be based on the amount and duration of user staking, as well as referral points. All users who have provided liquidity to sSOL or sUSD, or used Solayer's ecosystem applications may qualify for rewards, aiming to encourage more participation in ecosystem development while ensuring fair distribution of rewards.
(Solayer and OpenEden jointly launched the 'tokenized U.S. Treasury stablecoin sUSD', participation starts from 5 USD)
This article announces the establishment of the Solayer Foundation! Launching the governance token LAYER, and the first quarter reward program will soon be initiated, first appearing in Chain News ABMedia.
