2024

Solana

DeFi

Million

Solayer, a Solana-based restaking protocol, raised $20 Million in a count of 45 minutes during its launch. The Genesis Epoch 0 phase, which was marked by private, time-limited, and cap-limited participation was able to garn a good number of support from key players within the Solana ecosystem. 
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 1/ Stage 1, Genesis Epoch 0 a private, time-limited, cap-limited epoch <a href="https://t.co/k5adZjLZKu" target="_blank">pic.twitter.com/k5adZjLZKu</a>— Solayer (@solayer_labs) <a href="https://twitter.com/solayer_labs/status/1791169099067949504?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 16, 2024</a>
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Industrial figures like Yakovenko, the former Sushiswap core developer, took part in fundraising. The protocol allows members to stake SOL together with other Solana-based assets. 
Access to the Genesis Epoch 0 phase was through invites with a maximum cap of 20 million. This strategy allowed for careful partnership with early supporters. The raised assets will remain untouched until Epoch 3, after which they will be withdrawable. 
Solayer’s ability to raise a substantial amount during its first fundraising clearly shows how Solana-based projects are growing in interest among users and highlights the importance of community support. 
However, investors should carry out thorough research before participating in early-stage protocols to avoid falling victim to crypto scams. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/17/solana-defi-platform-pump-fun-suffers-2m-exploit/" target="_blank" rel="noreferrer noopener">Solana DeFi Platform Pump.fun Suffers $2M Exploit</a> 
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Solana Restaking Protocol Solayer Raises $20M

The Crypto Times

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