Sonic SVM Partners With Solayer and Adrastea to Expand Solana’s Restaking Ecosystem – Reaching $50 Million SOL Delegated to Sonic AVS
New York, NY, November 1st, 2024, Chainwire
Solana L2 Sonic SVM has announced a partnership with restaking platform Solayer to enhance Solana delegator rewards. Additionally, Adrastea is joining this as a new partner, introducing a Liquid Restaking experience on Solana. These collaborations follow Sonic SVM surpassing a milestone of $50M in SOL delegation on Solayer.
To mark Sonic SVM becoming the largest delegated AVS (Actively Validated Service) on Solayer, an enhanced rewards program has been launched. This campaign offers additional incentives for both Solana delegators on Solayer. Through these rewards, the initiative aims to deepen engagement and further accelerate the growth of the Solana restaking ecosystem.
Under this new initiative, Solayer users who delegate their $SOL or other eligible LST (Liquid Staking Tokens) to Sonic’s AVS will be eligible for additional rewards. The initiative comes at a time when Sonic SVM has already established a strong presence within Solana’s liquid staking sector through accruing over $50 million of delegated $SOL.
While the initiative continues to propel Solana delegation to Sonic AVS, Adrastea plays a crucial role in unlocking liquidity for the Staked Solana. Users who delegate to Sonic via Adrastea platform will receive an LRT token, $lrtsSOL – $lrtsSOL is a 1 to 1 pegged coin to $SOL, and users can use it in the DeFi ecosystem to have additional utility while they stake their $SOL to Sonic AVS.
Chris Zhu, CEO of Sonic SVM, said: “Our partnership with Solayer and Adrastea represents a crucial step in our mission to provide enhanced value to Solana stakeholders. By offering additional rewards to Solayer delegators, and working with Adrastea, we’re not only incentivizing participation in network security but also fostering greater engagement within the Solana ecosystem.”
Solayer Co-Founder Jason Li added: “Solayer is always looking to enhance the experience of our users, and teaming up with Sonic SVM to offer staking rewards is a perfect way to achieve this. Sonic SVM has proven to be a trusted partner in the Solana ecosystem, and we are excited to offer our users a chance to benefit from their staking services.”
BM, Founder of Adrastea, shared: “Adrastea is transforming liquidity access for Solayer users, and we’re thrilled to partner with Sonic SVM as our first incentivized AVS. This partnership revolutionizes the restaking experience by unlocking liquidity from delegations, empowering Sonic SVM to receive robust delegation liquidity while enabling users to hold a highly flexible asset, $lrtsSOL, to maximize their DeFi opportunities.”
The partnership between Sonic SVM, Solayer and Adrastea aligns with a broader trend of rising LST adoption on Solana. This has seen a number of centralized and decentralized platforms introduce support for liquid staking tokens, whose market capitalization has now surpassed $2B and is growing rapidly.
About Sonic SVM
Sonic SVM is a gaming L2 built on HyperGrid, a parallel processing framework designed to introduce customizability and scale while being natively composable to Solana. Sonic is the first atomic SVM chain built to enable sovereign game economies on Solana. Sonic enables sovereign game economies that roll-up and settle on Solana.
Learn more: https://www.sonic.game/
About Solayer
Solayer is a decentralized cloud infrastructure on Solana that offers restaking, staking, and oracle services. It aims to secure Solana and its integrated systems with endogenous and exogenous AVSs, and to provide yield-bearing stablecoin sUSD. Solayer introduces a shared validator network that leverages the economic principles of staking to enhance Solana’s base layer security.
Learn more: https://solayer.org/
About Adrastea
Adrastea is a pioneering Liquid Restaking layer on Solana, engineered to amplify capital efficiency and composability within the DeFi ecosystem. By offering liquid restaking and sophisticated smart AVS delegation, Adrastea empowers users to maximize both yield and rewards without sacrificing liquidity, transforming asset utilization across DeFi. Adrastea’s core principle is to remove barriers and simplify the restaking process, enabling users to retain liquidity and unlock additional value from their staked assets.
Learn more: https://adrastea.fi/
