Solana Restaking Protocol Solayer Raises $20M

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As a researcher with several years of experience in the crypto industry, I find Solayer’s successful fundraising round during its Genesis Epoch 0 phase quite impressive. The private, time-limited, and cap-limited strategy allowed for careful partnership with key players within the Solana ecosystem, as evidenced by the involvement of industrial figures like Yakovenko, former Sushiswap core developer.

In just 45 minutes during its debut, Solayer – a protocol for staking on the Solana blockchain – successfully secured $20 million in investments from prominent figures within the Solana community. The Genesis Epoch 0 phase, characterized by exclusive, time-restricted, and capped participation, garnered significant support.

1/ Stage 1, Genesis Epoch 0

a private, time-limited, cap-limited epoch

— Solayer (@solayer_labs) May 16, 2024

I came across information indicating that industrial players such as Yakovenko, a previous key developer for Sushiswap, participated in fundraising activities. The protocol in question enables users to combine staking of Solana (SOL) with other assets based on the Solana blockchain.

Early access to the Genesis Epoch 0 was granted via invitations, limited to a total of 20 million recipients. By implementing this approach, we were able to establish strategic collaborations with our initial backers. The accumulated funds will remain undisturbed until Epoch 3, following which they can be withdrawn.

As an analyst, I’ve observed that Solayer’s successful fundraising round of a significant amount is a clear testament to the increasing popularity of Solana-based projects. This trend underscores the significance of community backing in driving growth within this space.

To protect themselves from potential crypto scams, investors are strongly advised to conduct comprehensive research prior to engaging in early-stage protocols.

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2024-05-17 05:56