Solayer, a restaking protocol based in Solana, raises $20 million

A Solana-centric staking protocol known as Solayer amassed $20 million in a mere forty-five minutes while it was still in the process of being introduced. It occurred during the Genesis Epoch 0 phase. This involved limited time, a limited cap, and the assemblage of a fair amount of important investors in the Solana ecosystem.

A segment of the assembly dedicated to the individuals involved in the fund-raising process was graced by notable figures, including Yakovenko, the former primary developer of Sushiswap. Those in accordance with the protocol are permitted to stake SOL and additional Solana-centric assets.

Connectivity with the Genesis Epoch 0 phase was achieved via invitations, with an ultimate cap of $20 million. This game plan provided the option of forming associations of one’s choice with the initial backers. The amount of funds acquired will be kept on hold until the time of Epoch 3, following which one will have permission to make a withdrawal. 

Solana’s ability to successfully raise a respectable quantity of capital during its initial fundraising effort is indicative of the widespread interest among users in projects that utilize the Solana platform.

Investors are advised to make a detailed study before taking part in initial fund-raising activities to avoid risk factors.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button
Bitcoin (BTC) $ 67,835.17
Ethereum (ETH) $ 3,501.77
Tether (USDT) $ 0.999989
BNB (BNB) $ 604.40
Solana (SOL) $ 150.34
XRP (XRP) $ 0.485376
Dogecoin (DOGE) $ 0.143942
Cardano (ADA) $ 0.429835