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The arrival of the EigenLayer (EIGEN) protocol in mid-2023 ushered in a new era for Ethereum (ETH) stakers— the birth of native ETH restaking. Using the protocol's restaking service, users can now reuse their staked Ether to secure additional blockchain protocols and services, earning crypto income from more than one source.
Besides native ETH restaking, EigenLayer also offers liquid restaking, which allows you to secure additional platforms within the wider Ethereum ecosystem via liquid staking tokens (LSTs). Ever since the launch of EigenLayer, Ethereum restaking and liquid restaking services have flourished, attracting decentralized finance (DeFi) users enticed by multiple yield sources and the noble goal of securing a multitude of blockchain services with their funds.
Until August 2024, Layer 1 blockchains beyond Ethereum lacked the kind of native restaking and liquid restaking functionality that EigenLayer provides. That’s when Solayer — a native restaking and liquid restaking service for the Solana (SOL) blockchain — arrived on the stage. You can lock your SOL or select LSTs on the Solayer platform and be issued sSOL, an asset that lets you earn additional yield by delegating your stake to secure additional services and protocols within the Solana ecosystem.
Key Takeaways:
Solayer is the first native restaking and liquid restaking protocol on Solana’s blockchain.
Its platform lets you reuse your staked SOL and some LSTs to earn additional yield by securing the operations of various Solana-based Actively Validated Services (AVS).