【Solayer】Restaking protocol on Solana / $20M raised in 45 minutes / Unlike EigenLayer, on-chain Dapps now eligible for AVS / @solayer_labs

Solayer could be the infrastructure for Dapps and DeFi on Solana.

Good morning.
This is mitsui from web3researcher.

Today I researched"Solayer ".

🟢What is Solayer?
⚙️Differences between Solayer and EigenLayer
💬What are the prospects for Solayer?

🟢What is Solayer?

Solayer" is a re-staking protocol on Solana.

Similar to the "EigenLayer" re-staking protocol on Ethereum, users can earn additional rewards by re-staking native SOLs or LSTs. The mechanism is similar to existing re-staking, so we will not discuss it here.

The development itself has been done since 2023, but the announcement to the outside world was not made until April 2024. Subsequently, a roadmap for Stage 1 with a total of 6 Epochs was presented.

Stage1 allows native SOL re-staking and re-staking with 4 types of LSTs: Marinade-SOL, Blaze-SOL, JITO-SOL, and INF. Epoch0~5 seems to gradually release the TVL limit. Also, at Epoch6, sSOL, which certifies liquid staking, will be issued and connected to DeFi. Thus, "Solayer" can beaccuratelydescribed as a liquid restaking protocol.

Epoch0 took place on May 16, 2024 and was limited to members with an invitation code. The maximum TVL was $20 million, but the goal was reached in just 45 minutes.

Epoch 1 was subsequently reopened on May 27, 2024, with a total TVL of $50 million to date.

By the way, looking at Defillama, its $50m ($50m) TVL is about the same as Ondo Finance on Solana, which ranks 17th in this ranking. Seeing how fast it has grown so far in just one month, it could be in the top 3 of Solana's DeFi TVL ranking, just like EigenLayer, by the time it reaches Epoch 6.