Solayer

Solayer operates as a restaking network built natively on the Solana blockchain, designed to enhance the platform's security and scalability. The company was founded in 2024 by Anatoly Yakovenko and Raj Gokal, who are also the creators of the Solana blockchain. They are joined by co-founders Rachel Chu and Jason Li, who serves as the Head of Engineering, and Head of Product, Joshua Sum. Jason Li's background includes a computer science degree from UC Berkeley and previous entrepreneurial ventures in the blockchain space with InkyLabs Inc. and LoopChat.

The core of Solayer's business is to extend the economic security of Solana's base layer to other decentralized applications (dApps) and systems. This is achieved through a mechanism called "restaking," which allows users to stake their SOL tokens or Solana-based liquid staking tokens (LSTs) to secure additional protocols, known as Actively Validated Services (AVSs). In return for contributing to the security of these AVSs—which can include oracles, bridges, and new virtual machines—users can earn additional rewards on top of their standard staking returns. Solayer's model is conceptually similar to EigenLayer on the Ethereum network.

Solayer's platform consists of several key components, including a Restaking Pool Manager, a Delegation Manager, and a Rewards Accounting Unit. Users deposit their SOL or LSTs and receive a liquid restaking token called sSOL, which represents their position. This sSOL token can then be delegated to various AVSs within the ecosystem, such as Sonic Layer 2 Chain and HashKey Cloud. The business aims to provide dApps on Solana with a greater likelihood of securing block space and prioritizing transaction inclusion, thereby improving network bandwidth. A significant development for the company is the creation of InfiniSVM, a hardware-accelerated blockchain architecture designed to dramatically increase transaction throughput and reduce latency. In May 2024, Solayer secured $12 million in a seed funding round led by Polychain Capital, bringing its valuation to $80 million. The company is also backed by other notable investors, including Binance Labs, Hack VC, and Race Capital.

Keywords: Solayer, Solana, restaking, blockchain security, decentralized applications, dApps, liquid staking tokens, LST, Anatoly Yakovenko, Raj Gokal, Actively Validated Services, AVS, sSOL, InfiniSVM, Polychain Capital, Binance Labs, decentralized finance, DeFi, crypto, shared security, proof-of-stake, PoS, validator network, LAYER token, Web3, blockspace customization, transaction throughput