Crypto World News reports that the Solayer re-staking protocol has received support from a non-profit foundation while introducing the LAYER governance token. “To support our next phase of development, we are pleased to announce the establishment of the Solayer Foundation. This is an independent non-profit organization dedicated to advancing the protocol that drives SVM scaling, the upcoming LAYER token, and the first quarter claim plan,” Solayer Labs announced on Thursday on the X platform. Solayer is a re-staking protocol based on Solana, inspired by Ethereum's EigenLayer re-staking protocol. Through re-staking, users can lock their staked assets again in other protocols (known as Active Validation Service, AVS) to earn additional rewards and maximize returns. According to DeFiLlama data, Solayer is currently the 12th largest protocol on Solana. LAYER is an SPL-2020 token that will initially serve as Solayer's governance token to “accelerate ecosystem growth and protocol development,” Solayer Labs stated on Thursday. More details about the utility of LAYER will be announced later this year.