September is coming to a close and has without doubt been one of our busiest and most impactful months to date here at Solayer. From participation in key conferences in Asia, new exchange LST partnerships with Bybit and Binance, as well as the announcement of sUSD, all of the team here have been super busy.

To top it off, on 26th September we crossed an impressive milestone with deposits exceeding $200MM in Total Value Locked (TVL) for the first time ever. Now more than 1.34MM SOL is being restaked on Solayer by over 123,000 unique depositors. For September alone this represents an increase of almost 20,000 new depositors and an additional 140,000 restaked SOL. 

We’ve also seen our delegations reach an all-time high of $43MM or 268,800 sSOL, a substantial increase over August’s $30MM.

As we return to the trenches in October, we are excited to build on the foundations laid over the past few months. Demand for endo AVSs has never been greater with plenty more exciting news and announcements to come. On top of that, the team is expanding, tech developing is progressing, and we are excited to continue sharing progress on the launch of sUSD, the first restaking stablecoin on Solana.

Highlights

Introducing sUSD: The first yield-bearing restaking stablecoin is coming to Solana

For Solana Breakpoint 2024, Solayer co-founder Jason Li took the stage to announce the first-ever yield-bearing restaking stablecoin. A full video of the presentation can be found here. Expect more details in the month ahead.

We Joined Forces with Binance to Launch BNSOL, One of the Most Significant Solana LSTs to Date.

We announced our partnership with Binance to launch BNSOL, one of the most significant liquid staking tokens (LSTs) on Solana. This collaboration allows Solana users to easily mint and delegate BNSOL via Solayer’s platform, leveraging Binance’s trusted infrastructure to boost staking participation and contribute to the network’s decentralization. This marks a major step forward in expanding Solana’s staking capabilities and solidifying Solayer’s role in the ecosystem.

We partnered with Bybit to unveil bbSOL

On top of BNSOL, we also announced our partnership with Bybit to unveil bbSOL, a game-changer for liquid staking on Solana. Through this partnership, users can easily mint and delegate bbSOL via Solayer’s platform, leveraging Bybit’s reliable infrastructure to enhance staking opportunities. This collaboration is set to drive greater participation, boost network security, and further establish Solayer’s leadership in the Solana staking ecosystem.

New Focus, New Incentives: Episode 2 is Coming Soon

The moment many in the community have been waiting for - the launch of Episode 2. This time we are focusing on two key areas: Providing sSOL liquidity on leading DeFi protocols and delegating sSOL to Solayer AVSs.

More details are coming soon so get ready by signing up at app.solayer.org!

Solayer Took Over Singapore for Token2049

It’s one of the most important conferences on the crypto calendar and the team at Solayer were busy participating in a flurry of panels, debates, and discussions. We participated in panels across Appchain Day, Breakpoint, Stakepoint, Timestamp by ABCDE, SGP Mastermind by Swissborg, AltLayer Day and Token 2049. Not to mention we were also active at KBW where we hosted a booth, met with community members, and participated in panel discussions.

Be sure to follow our events page to see when we’ll be stopping by in a city near you!

Co-hosted Stakepoint with Marinade & Hosted a Private Event with Polychain Capital.

We had the pleasure of co-hosting Stakepoint with Marinade, where our cofounder, Jason Li, spoke on the unique opportunities Solana offers through SWQoSo and MEV. The event brought together leaders in the staking ecosystem to discuss Solana staking’s future, regulation, and risk management, providing a platform for Solayer to further showcase our leadership and insights in the space.

Afterwards, we held a private event together with Polychain Capital to connect with investors and discuss the future of staking on Solana.

Closing Thoughts

It’s been a wild month and having the chance to meet with our backers, partners, and community members face-to-face has us more motivated than ever to make Solayer the top restaking network on Solana. We appreciate everyone’s support and friendship in making our vision a reality!