Solayer October Recap

October has been an extraordinary month at Solayer, marked by the successful launch of sUSD, key exchange-branded partnerships, and the growth of our AVS ecosystem. We crossed $300MM in TVL  and introduced an innovative stablecoin to solidify our role in the Solana ecosystem. The entire team has been working around the clock to build, launch, and engage.

A highlight of the month was our sUSD launch, reaching a $20M TVL cap within a single day and attracting over 10,000 new depositors. In addition to product launches, we formed new partnerships with ecosystem leaders, introduced the first-ever open-source LRT codebase, and launched BGSOL in partnership with Bitget.

In terms of metrics, Solayer continues to see robust growth:

TVL: $308.08MM as of November 1, up from $200MM in late September.
Depositors: Reached 159.32k, an increase of 36k from September.
Delegation: Doubled to $81MM/490.9k sSOL, strengthening Solayer’s staking footprint.

sUSD: The First RWA-backed Synthetic Stablecoin to Secure the Open Internet.

Upon launch, it quickly became a trending topic on X (Twitter), reaching a $20MM TVL cap within a single day:

• Now, over 10,000 holders benefit from Treasury Bill (T-Bill) interest through Solayer’s unique yield-bearing mechanism. Stay tuned as sUSD drives innovation across the Solana ecosystem.

Introducing BGSOL, the future of exchange-backed LRTs

Introducing BGSOL, a liquid restaking token created with Bitget, offering staking rewards and automatic AVS delegation for enhanced transaction speed and security within Bitget’s ecosystem:

• BGSOL holders enjoy immediate rewards, full liquidity, and easy access to Bitget’s DeFi services.

• This collaboration sets a new standard for exchange-backed assets in Solana’s DeFi space. Visit Bitget to start with BGSOL today.

Solana Program Template as the first open-source Solana LRT codebase

Solayer has launched the first open-source Liquid Restaking Token (LRT) codebase through the Solana Program Template (SPT) initiative:

• This provides Solana developers with free, deployable templates to simplify development and support staking diversification across Actively Validated Services (AVS).

• By open-sourcing, Solayer aims to foster developer adoption and community contributions on Solana.

Learn more : github

Kraken Validator Partnership

We’re just getting started—more partners are on the way as we continue to expand our validator network:

• In December 2021, Kraken made a bold move in staking services by acquiring Staked, a top non-custodial staking provider.

• Staked (@staked_us) supports over 45 proof-of-stake blockchains and manages over $10 billion in delegated assets.

• Trusted by leading investors, exchanges, and protocols, Staked delivers reliable, secure staking rewards

Shipyard Ecosystem Workspace

We’re pleased to announce the opening of SHIPYARD, a new ecosystem workspace dedicated to supporting Solana contributors in San Francisco:

• This launch brings together a blend of community spirit and innovation, offering a relaxed yet collaborative environment.

Solayer AVS Hackathon Winners Announcement

The Solayer AVS Track has been one of the most exciting initiatives we've been involved in to date:

• Bringing together some of the brightest minds in the Solana ecosystem, this hackathon truly pushed the boundaries of restaking on Solana.

• The track highlighted the capabilities of Solayer’s Actively Validated Services (AVS) infrastructure, showcasing projects that are driving the future of liquid restaking and yield optimization.

Solayer 101 Bounties went Live

Kicked off a $100,000 bounty to support community-driven education, expanding Solayer’s educational outreach:

• Solayer 101 is an open platform to distribute research and educational materials, from technical articles to fully deployable codebases.

• We incentivize and compensate contributors of Solayer 101 in the form of cash compensation, in sUSD.

Closing Thoughts

As we look forward, we’re more motivated than ever to drive Solayer’s growth and solidify its role as a top restaking network on Solana. Thank you for your support as we continue to build and innovate for the Solana ecosystem!