Binance Labs has made a strategic investment in Solana-based restaking network Solayer. With this funding, Solayer plans to expand its team, integrate more protocols, and increase its impact on the Solana blockchain.
The investment is part of a strategy that Solayer aims to address through improved retaking methods to reduce congestion on the Solana network. Solayerâs goal is to optimize the network bandwidth and transaction efficiency of decentralized applications (dApps) by developing a comprehensive system that allows SOL stakers to increase the security of the Solana network. Additionally, Solayer plans to facilitate general asset retaking by securing external Active Verified Services (AVS) systems. This approach stands out for its ability to distribute asset security and generate local returns, thus adding additional value to stakers and the Solana ecosystem.
In just two months since its founding, Solayer has achieved significant success. According to DeFiLlama data, Solayer has quickly become the 13th largest protocol on the Solana network, accumulating over $150 million in total value locked (TVL) and gaining over 70,000 unique deposit addresses.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed his excitement about this investment: âWith the support and strong contributions of Binance Labs, we are moving towards our goal of strengthening the Solana ecosystem and delivering more value to dApps on Solana.â
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I EXPLAIN IN DETAILED.
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You can share this post with your friends in need so that they can also benefit from it.
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