Solana's reStaking protocol Solayer has announced its own token LAYER, which will serve as the native token for its hardware acceleration solution InfiniSVM based on the Solana Virtual Machine (SVM). LAYER token economics will be launched on 2/7 according to the announcement. In addition to issuing tokens through the community sales of its own NFT membership card (Emerald Card), Solayer will also conduct a Genesis airdrop to reward early ecosystem participants.
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ToggleTotal token supply of 1 billion, with 220 million as the initial circulating supply
The token allocation is as follows:
Community and ecosystem (51.23%)
- 34.23% for R&D, developer programs, and ecosystem growth.
- 14% for community activities and rewards (of which 12% is allocated to the Genesis Drop airdrop).
- 3% for Emerald Card community sales.
Core contributors and advisors (17.11%)
Investors (16.66%)
Solayer Foundation (15%): for ecosystem expansion and network development.
LAYER token distribution mechanism
The latest token distribution mechanism of Solayer is as follows:
- Genesis airdrop and Emerald Card community sales: Fully unlocked upon launch.
- Community rewards: Gradually distributed over 6 months.
- Community, ecosystem, and Foundation: Distributed quarterly over 4 years.
- Team and advisors: 1-year lock-up, then distributed over 3 years.
- Investors: 1-year lock-up, then distributed over 2 years.
Use cases of LAYER token
Solayer states that the initial use cases of the LAYER token are primarily for governance, and will be expanded to include network fees and staking mechanisms, including:
Governance (current): Ability to participate in decision-making votes, such as adding supported assets, and management of development funds.
Decentralized validation (future): Participation in the PoS consensus, providing network security, and earning block rewards.
Solayer network fees (future): As a gas token for transactions.
The second round of distribution is about to begin
Solayer has announced that the second round of LAYER token distribution will be through a Genesis Drop airdrop, rewarding users who have participated in the ecosystem since 2024. The total allocation is 12%, covering the following:
- Users holding sSOL or sUSD.
- Users who have delegated their sSOL to AVS partners.
- Users who have deposited sSOL or sUSD in participating DeFi protocols.
- Users who have staked LST on Solayer.
- Users who have deposited assets through partner channels or wallet activities.
- Participants in the LRT protocol.
The initial airdrop will be fully unlocked, and then tokens will be continuously distributed in each Epoch over the next 6 months.
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