Binance Labs Powers Solana Restoration Ecosystem with Solayer Investment

Binance’s incubation and venture capital group, Binance Labs, announced an investment in Solana-based restaking network Solayer.

Solayer plans to deploy the new capital infusion from Binance Labs to grow its team, incorporate additional protocols into its ecosystem, and solidify its role as a crucial part of the Solana blockchain.

According to the official press release, the team will also prioritize finding ways to mitigate congestion on Solana’s network through the use of restoration infrastructure.

Solayer is preparing to release a complete system soon, which will allow stakers to use SOL to secure Solana, while dApps will be able to secure network bandwidth and transaction performance. Additionally, the platform will target general asset recovery to secure external AVS systems.

Commenting on the investment, Binance Co-Founder and Head of Binance Labs Yi He said:

“We are delighted to have Binance Labs invest in Solayer. With Binance Labs’ support and strong support, we are one step closer to realizing our vision of strengthening the Solana ecosystem and bringing greater value to dApps in Solana”.

Built natively in Solana, Solayer to enhance the security of Solana’s base layer, extending it to other decentralized systems and dApps. This approach allows users to participate in a decentralized validation network, increasing the security and vitality of the Solana ecosystem.

It also allows users to stake assets to decentralize Solana, earn native returns via MEV-boost and Actively Validated Delegated Services (AVS) performance.

In just under 60 days since the launch of Phase 1, Solayer has become the 13th largest protocol on Solana, according to DeFiLlama. The platform has accumulated more than $150 million in total value locked (TVL) and attracted more than 70,000 unique deposit addresses, according to data compiled by DeFiLlama.

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