Solayer’s Solana Restaking Mainnet Launch Secures $160M TVL in Record Time

• Solayer’s mainnet launch enhances Solana’s network with innovative restaking for bandwidth efficiency.
• Solayer gains traction with $160M TVL, boosting Solana’s decentralized cloud capabilities.
• Wormhole’s ‘Era3’ roadmap targets institutional adoption with streamlined cross-chain solutions.

Solayer has officially launched its Solana Restaking Protocol on the mainnet, marking a significant milestone in optimizing Solana’s network. Announced in a post on X, Solayer introduced its endogenous Active Validator System (AVS) standard, which aims to address Solana’s network congestion issues through innovative restaking mechanisms.

Launched on May 21st, Solayer has rapidly gained traction, crossing over $160 million in Total Value Locked (TVL). The platform’s primary focus is solving network congestion on Solana by re-using staked SOL to secure network bandwidth for decentralized applications and systems within the ecosystem.

As noted, Solayer’s restaking platform functions similarly to a virtual cluster on AWS, offering reserved, localized network bandwidth with on-demand blockspace and throughput. The decentralized cloud marketplace is built on Solana’s Stake-Weight Quality of Service (QoS) feature, allowing stakers to secure both Solana’s Layer 1 and network bandwidth for various decentralized systems, enhancing capital efficiency.

Additionally, the mainnet launch includes several key features, such as natively stake SOL with a restaking vault, delegating staked SOL (sSOL) to endogenous AVS, and participating in the network’s decentralization efforts. 

Following this announcement, Lookonchain noted on X that in just nine hours after Solayer Labs launched its mainnet, 1,439 stakers had already delegated 14.57K staked SOL (worth $2.13M) to SonicSVM for re-staking on Solayer Labs to earn additional rewards.

With Solayer’s mainnet launch, Wormhole, a blockchain interoperability platform, has announced the rollout of its ‘Era3’ roadmap, which focuses on user experience and interface improvements, streamlining deployment processes, and integrating cross-chain standards. The updated roadmap also introduces Wormhole Institutional, targeting institutional players with integration solutions across the crypto ecosystem.

Additionally, other blockchain networks have made notable advancements. Cronos Labs launched Cronos ZkEVM on its alpha mainnet, introducing $zkCRO as its gas token to expand its ecosystem. Meanwhile, Pyth, a blockchain oracle, has started providing real-time price feeds to the TON blockchain, which is linked to the Telegram messaging app.