Summary
- Solayer announced the introduction of the governance token LAYER and the launch of its foundation.
- LAYER is said to play a role in accelerating Solayer ecosystem growth and protocol development.
- The independent non-profit organization, the Solayer Foundation, is expected to support the next phase of the project.
According to The Block, a cryptocurrency media outlet, Solayer, a restaking protocol on Solana (SOL), announced the introduction of its governance token LAYER and the launch of its foundation on the 2nd (local time).
LAYER is an SPL-2020 token that will function as the governance token for Solayer and will be used to accelerate ecosystem growth and protocol development.
Specific details regarding its utility are planned to be announced later this year.
Solayer explained, "To support the next phase of the project (SVM expansion, LAYER token, Season 1 claim promotion, and protocol advancement), we have launched the independent non-profit organization, the Solayer Foundation."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
