What is Solayer (LAYER): Everything you need to know

Bittime - Solayer LAYER is the underlying cryptocurrency token Solayer, a restaking protocol built on the blockchain Solana. Designed to improve Solana's scalability and security, Solayer enables decentralized applications (dApps) to increase network bandwidth, while optimizing asset returns for their users.

What is Solayer?

Solayer is a protocol restaking which leverages the Solana blockchain to improve network security and scalability. This protocol allows users to restake SOL tokens or Solana-based liquid staking tokens (LST), which then support dApp applications and active verification services (AVS) on Solana.

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Solayer is designed to overcome liquidity challenges and provide a more efficient staking experience. By converting SOL or LST tokens into sSOL, users can increase network security while participating in various Solana applications that require fast transactions and low fees.

Who is the Founder of Solayer?

Solayer was founded by Anatoly Yakovenko And Raj Gokal, who is also the founder Solana. Their experience in blockchain technology provides a strong foundation for the development of Solayer. Apart from them, the Solayer team also consists of Rachel Chu, Jason Li, And Joshua Sum, all of which contributed to the development of this product.

Key Features of Solayer

Solayer is not just an ordinary restaking protocol, but also a solution to improve the performance of the Solana network. By using architecture InfiniSVM, Solayer enables faster transactions and lower fees, supporting over 1 million transactions per second and bandwidth over 100Gbps. This makes it essential for applications that require high throughput and low transaction costs.

LAYER Tokens and How to Get Them

LAYER is the main token in the Solayer ecosystem. By holding LAYER, users can participate in staking, governance, and various activities within the protocol. This token can be obtained through various exchanges such as OKX, which makes trading and token management easier.

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Conclusion

Solayer LAYER is a very important protocol for the development of the Solana blockchain. With innovative technology, Solayer provides new opportunities for users to participate in more efficient and secure staking. Through its liquidity solution, Solayer has the potential to change the way staking and dApps are developed on Solana.

FAQs About Solayer (LAYER)

1. What is Solayer (LAYER)?

Solayer is a restaking protocol built on Solana to improve network scalability and security and offer a more efficient staking experience.

2. How to get LAYER tokens?

LAYER tokens can be obtained through various exchanges such as OKX, by trading or participating in staking.

3. What are the advantages of using Solayer?

Solayer increases staking yields by converting SOL or LST tokens into sSOL, providing higher security and reducing transaction costs on the Solana blockchain.

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Reference

OKX, What is Solayer: Get to know all about LAYER, accessed 17 February 2025.

Author: MF