Solayer establishes Solayer Foundation, introduces LAYER Token

established the Solayer Foundation and introduced the LAYER governance . On January 3, - the leading protocol on - established the Solayer Foundation and introduced the LAYER governance , marking a major milestone in the expansion of the Solana Virtual Machine (SVM) network and support for the project's products in the next stages. The Solayer Foundation is a non-profit organization focused on researching and developing decentralized protocols, with an initial focus on Solayer Labs. The vision and mission of the Solayer Foundation are shaped by two main objectives: 1. Support applications on Solana with superior transaction processing capabilities. 2. Build an SVM chain focused on hardware (expected to be launched soon). The s of the LAYER will not only participate in shaping the strategic direction but also contribute to deciding the organizational structure and appointing the leadership team. The LAYER issuance process will be implemented in three phases, with the first phase reserved for eligible participants, including users who have sSOL, sUSD or used AVS services, individuals and organizations on the Solayer ecosystem , and s for Solayer protocol products. The project also revealed that detailed information about the LAYER will be announced by the end of this year. However, the specific timeline for users to start receiving the has not been announced. Solayer is a platform developed on the Solana chain, allowing users to their staked SOL s into various applications. Solayer is similar to on , supporting users to maximize their held assets by participating in the validation of modules and software built on the Solana chain. Launched in August 2024, Solayer successfully raised $12 million in a Seed round led by and backed by . The project has quickly established its position with a series of achievements in less than a year: - $350 million in assets in the protocol. - Over 190,000 users participating in . - Providing superior yields, with APY up to 12%, along with additional rewards from AVS (Active Validated Services). Solayer has also collaborated with various prominent names such as , Adrastea, RateX, , , , and many other projects to continuously deploy a series of new s like BGSOL, , BBSOL. At the time of writing, Solayer has risen to become the 7th largest project by TVL, with over $321.09 million in assets deposited in the protocol, recording an increase of more than 9.3% in the past week.