Key findings: Binance Labs invests in Solayer, Solana's flagship re-betting network. solayer aims to protect decentralized in-circuit applications (dApps) with enhanced network bandwidth while protecting L1. Their goal is to give Solana's dApps a higher probability of securing block space and prioritizing transaction inclusion.
Binance Labs, the venture capital and incubation arm of Binance, has invested in Solayer, Solana's flagship re-pledge network. Their goal is to enable decentralized applications in the chain (dApps) with improved network bandwidth while securing L1.Built on Solana, Solayer leverages proof-of-partition economic principles to extend Solana's core layer security to other decentralized systems and dApps. This innovative approach allows users to participate in a decentralized validation network, contributing to the security and vitality of the Solana ecosystem. Users can pledge assets to decentralize Solana, earn their own income through MEV-boost and income from delegated actively validated services (AVS).In just under 60 days since the Phase 1 launch, Solayer has risen to Solana's 13th largest protocol, according to the DeFiLlama. The platform has amassed over $150 million in Total Value Locked (TVL) and has attracted more than 70,000 unique deposit addresses.With the recently secured funds from Binance Labs, Solayer plans to grow its team, incorporate new protocols into the ecosystem and establish itself as a major Solana blockchain primitive. Additionally, the team will focus on exploring solutions to address Solana's network congestion issues using a reloadable infrastructure. Solayer also has plans to soon release a full system where players can use SOL to provision Solana, and dApps can provide network bandwidth and transaction throughput. In addition to this, Solayer will focus on general asset re-pledging that provides exogenous AVS, systems that are external to Solana. "Binance Labs is committed to supporting early stage projects that drive the growth of crypto ecosystems. Solayer has emerged as a dominant player in the Solana ecosystem and we are excited to join them in their journey to make the ecosystem more vibrant," said Yi He, Binance co-founder and head of Binance Labs. "We are thrilled that Binance Labs is investing in Solayer. With the backing and strong support of Binance Labs, we are one step closer to realizing our vision of strengthening the Solana ecosystem and delivering more value to Solana's dApps," said Jason, Co - Founder of Solayer Labs.###By Binance LabsAs the venture capital and incubator division of Binance, Binance Labs is dedicated to empowering early-stage projects and driving the growth of innovative ecosystems. Since our founding in 2018, we have been providing strategic support and funding to projects regardless of market cycles.Binance Labs' portfolio spans over 250 projects from over 25 countries across six continents. More than 65 of the companies in the Binance Labs portfolio are projects that have gone through our incubation programs. For more information follow Binance Labs on X. About SolayerSolayer is Solana's leading re-betting network. They aim to empower decentralized applications in the chain (dApps) with improved network bandwidth while providing L1. Their goal is to provide Solana's dApps with a higher probability of securing block space and prioritizing transaction inclusion.
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