Solayer Labs, a developer of a Solana restaking protocol, raised $12m in seed funding.
The round was led by Polychain Capital with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Maelstrom.
The company intends to use the funds to continue to expand its development efforts.
Solayer Labs is developing Solana restaking protocol. With it, users can stake SOL to decentralize Solana and to secure network bandwidth for all decentralized systems. More stake dedicated to a dapp means higher throughput, creating localized “cloud” instances for applications without the fragmentation typically associated with appchains. This approach is particularly valuable for apps where users may not be willing to pay for additional services like stake-weighted QoS.
FinSMEs
28/08/2024