Sonic SVM partners Solayer, Adrastea to expand Solana restaking

Sonic, a layer 2 blockchain for gaming on Solana, announced partnerships with Solayer and Adrastea Finance, aiming to expand the Solana repurchase ecosystem.

The Sonic SVM team announced that they will be joining forces with Solana (SOL)-based protocols on October 31st. Sonic’s announcement also included the news that the platform had surpassed $50 million in SOL tokens transferred to Solayer.

With this milestone, Sonic becomes the largest actively verified service on Solayer, a protocol with total value locked at over $302 million.

Sonic is also partnering with liquid repurchase layer Adrastea Finance to support the overall Solana repurchase market. This comes as Solana continues to gain greater adoption in the decentralized finance ecosystem, and staking and re-staking have benefited from several significant developments in recent months.

This includes liquid staking protocol Jito’s partnership with the Fragmetric restaking layer to launch liquid restaking token fragSOL on Solana in August.

Renzo, a repurchase protocol for liquid repurchase tokens, also launched Solana’s first LRT on Jito earlier that month.

Sonic will celebrate the $50 million transferred SOL milestone with a rewards program that includes Adrastea. The initiative aims to further encourage SOL delegates on the Solayer platform. Solayer users who transfer SOL or eligible liquid staking tokens with Sonic’s AVS will earn bonus rewards.

Transferring Sonic via the Adrastea Finance protocol will also allow users to receive lrtsSOL, an LRT token pegged 1:1 to SOL. Holders can leverage this token to access other opportunities in the DeFi ecosystem.

According to DeFiLlama data, a total of 192 protocols currently offer liquid staking solutions and the total value locked in various assets is over $45 billion. Meanwhile, the repurchase and liquid repurchase ecosystems are worth more than $15 billion and more than $10 billion, respectively.