Odaily Planet Daily News According to The Block, Solana's re-staking protocol Solayer has established a foundation and launched the LAYER governance token. "To support the next phase of our journey, we are excited to announce the establishment of the Solayer Foundation, an independent non-profit organization dedicated to promoting SVM expansion, the upcoming LAYER token, and the development of the first season's staking rewards," Solayer Labs announced on the X platform on Thursday. Solayer is a re-staking protocol based on Solana, modeled after Ethereum's EigenLayer protocol. Re-staking allows users to earn additional rewards by re-locking staked assets (AVS, or Active Validation Service) in different protocols, thereby maximizing returns. According to DeFiLlama data, this re-staking protocol currently ranks 12th on the Solana chain.