Solayer announces the establishment of a foundation and the release of governance token LAYER

Odaily Planet Daily According to The Block, Solana's re-stake protocol Solayer has established a foundation and launched the LAYER governance Token. "To support the next stage of our journey, we are pleased to announce the establishment of the Solayer Foundation, an independent non-profit organization dedicated to advancing the expansion of SVM, the upcoming launch of LAYER Token, and the development of the first season's equity distribution," Solayer Labs said Thursday on the X platform. Solayer is a Solana-based stake protocol that borrows from Ethereum's EigenLayer protocol. Re-staking allows users to earn additional rewards by re-locking already staked assets (AVS, i.e. Active Verification Services) in different protocols, maximizing returns. According to DeFiLlama data, the re-staking protocol currently ranks 12th on the Solana chain.