Sonic SVM and Solayer boost Solana staking rewards, Adrastea introduces liquid restaking 
Cryptocurrency Nov 1, 2024 Share
Sonic SVM, a Solana (SOL)-based Layer-2 (L2) platform, has partnered up with Solayer to increase rewards for Solana delegators, while Adrastea, a new partner in the ecosystem, is introducing liquid restaking on Solana, as reported to Finbold on Friday, November 1.
The collaboration comes just after the news of Sonic SVM surpassing $50 million in SOL delegations as Solayer’s largest Actively Validated Service (AVS).
Chris Zhu, chief executive officer (CEO) of Sonic SVM, remarked on the partnership:
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“Our partnership with Solayer and Adrastea represents a crucial step in our mission to provide enhanced value to Solana stakeholders. By offering additional rewards to Solayer delegators, and working with Adrastea, we’re not only incentivizing participation in network security but also fostering greater engagement within the Solana ecosystem.”
More incentives to join Solana
Celebrating their latest achievements, the three partners are launching an enhanced rewards campaign to attract more participants to the Solana restaking ecosystem and incentivize participation.
In addition, Solayer users who delegate their SOL or other eligible liquid staking tokens (LST) to Sonic’s AVS will also qualify for additional rewards.
Delegators using the Adrastea platform to stake with Sonic will receive lrtsSOL, a token pegged 1:1 to SOL, which can be leveraged across the decentralized finance (DeFi) ecosystem to give users more utility and flexibility.
Solayer’s Co-Founder, Jason Li, commented on the importance of user experience, stating:
“Solayer is always looking to enhance the experience of our users, and teaming up with Sonic SVM to offer staking rewards is a perfect way to achieve this. Sonic SVM has proven to be a trusted partner in the Solana ecosystem, and we are excited to offer our users a chance to benefit from their staking services.”
Adrastea’s founder, BM, in turn, highlighted Adrastea’s role in the collaboration:
“Adrastea is transforming liquidity access for Solayer users, and we’re thrilled to partner with Sonic SVM as our first incentivized AVS. This partnership revolutionizes the restaking experience by unlocking liquidity from delegations, empowering Sonic SVM to receive robust delegation liquidity while enabling users to hold a highly flexible asset, $lrtsSOL, to maximize their DeFi opportunities.”
Liquid staking token adoption on Solana.
The new partnership between Sonic SVM, Solayer, and Adrastea is another sign of the growing trend of Liquid Staking Token adoption on Solana.
As of November, the market cap for the respective partners’ tokens has surpassed the $2-billion mark.
If the trend continues, the collaboration will only further increase the appeal of these tokens across both centralized and decentralized platforms.