Originally published on: November 01, 2024
Sonic, the groundbreaking Solana layer-2 blockchain, has achieved a major milestone in staking by surpassing $50 million and initiating a strategic partnership aimed at boosting the burgeoning restaking industry on the Solana network.
In a move to enhance Solana delegator rewards, Sonic, the pioneering gaming-focused Solana Virtual Machine (SVM) L2 network, has teamed up with restaking platform Solayer and liquid restaking layer Adrastea. This collaboration marks a significant step towards amplifying the benefits for Solana delegators.
The recent announcement revealed that Sonic SVM has become the largest delegated AVS (Actively Validated Service) on Solayer, solidifying its position as a frontrunner in the staking landscape. With this achievement, Sonic SVM is set to drive further growth in Solana’s staking and restaking ecosystem.
Chris Zhu, the visionary founder and CEO of Sonic SVM, emphasized the immense growth potential of Solana’s staking and restaking ecosystem. Drawing parallels to Ethereum’s success in liquid staking, where it amassed a cumulative TVL of $44 billion, Zhu expressed optimism about Solana’s trajectory in this space.
The innovative solutions offered by Solana-based protocols like Jito, Solayer, and Fragmetric are expected to play a pivotal role in shaping the future of the restaking ecosystem on the network. Zhu highlighted the transformative impact these protocols could have on Solana’s restaking landscape.
Bybit Research is also bullish on the growth of Solana-based liquid staking, predicting a fivefold increase driven by sustained retail adoption. Currently valued at $5.9 billion in TVL, Solana-based liquid staking is poised for substantial expansion in the near future.
As the restaking industry on the Solana network gathers momentum, stakeholders are optimistic about its potential to rival Ethereum’s ecosystem. With strategic partnerships and innovative solutions in place, Sonic SVM is at the forefront of this transformative journey towards unlocking the full potential of Solana staking.
