Solayer has successfully raised $12 million in a funding round led by Polychain Capital to bolster its integrated restaking network on the Solana blockchain. This initiative is set to tackle scalability and transaction inclusion challenges by introducing a novel approach to staking and network bandwidth optimization.
Solana Restaking Project Solayer Attracts $12 Million Investment
According to the team, this funding round also attracted investments from Hack VC, ABCDE, and Binance Labs, which will enhance Solayerâs mission to decentralize the networkâs bandwidth allocation. The aim is to ensure a more resilient and censorship-resistant transaction process, especially crucial given Solanaâs remarkable growth in user activity and transaction volume over the past year.
Solayerâs approach significantly differs from the modular paradigms seen in other blockchain networks. By enhancing both scalability and liveness, the project aspires to resolve issues related to network congestion and transaction fees, which have increased alongside Solanaâs expanding user base.
The company has already rolled out several key features, including a restaking vault and MEV-boost, with more components planned for release in the upcoming months.
What are your thoughts on Solayerâs capital raise? Feel free to share your opinions in the comments section below.
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