The Solayer token has also been listed on Bithumb and Upbit with the support of the KRW pair.
The Solayer protocol plans to launch a scalable chain dubbed infiniSVM before the end of 2025.
, a top-tier cryptocurrency exchange with over 250 million globally registered users, has announced the introduction of the 8th project on the HODLer Airdrop dubbed Solayer (LAYER), a project within the Solana (SOL) ecosystem focusing on enhancing the network’s restaking capabilities.
The cryptocurrency exchange announced that BNB holders who are subscribed to the Simple Earn products between February 1 and February 5 will be eligible for the LAYER token airdrop. Eligible Binance users will receive their LAYER tokens within the next 24 hours in their spot wallets following the airdrop announcement.
Meanwhile, Binance will list the LAYER token for open trading on Tuesday at 14:00 UTC against Bitcoin , Tether , Circle , BNB , FDUSD , and TRY pairs. However, the LAYER token will have the seed tag to remind crypto investors of its high volatility.
Closer Look at LAYER Token Tokenomics
The Solayer’s token will have a total and maximum supply of 1 billion. The Binance HODLer Airdrop will involve 30 million LAYER tokens, which represent 3% of the total token supply. An additional 20 million LAYER tokens will be deployed for marketing purposes in the next three months.
As a result, the circulating supply of the Solayer’s tokens will increase to 210 million units, which represents 21% of the total supply.
Previously, the Solayer protocol announced that 51.23% of the total supply of LAYER tokens will be allocated to the community and ecosystem, which will be vested every 3 months over 4 years.
Out of the 51.23% of the total LAYER supply, the Solayer team set aside 34.23% for continued research and development and ecosystem growth, among other uses. Around 14% of the community and ecosystem share was reserved for community events and incentives. The remaining 3% is set to be distributed through the Emerald Card community sale.
Meanwhile, the Solayer’s team set aside 16.66% of the total LAYER tokens for investors, 17.11% for core contributors, and 15% for the Solayer Foundation.
Solayer Heavily Benefits from Binance Baking
The Solayer protocol has significantly benefited from Binance through different initiatives, including the YZi Labs and listing. For instance, Solayer has collaborated with Binance in the past to launch BNSOL, a liquid staking token (LST) on the Solana network.
Following the notable backing from Binance, Solayer has received support from other crypto exchanges through the listing of the LAYER tokens. For instance, Bithumb the listing of LAYER tokens against KRW today. Additionally, Upbit Korea announced the listing of LAYER tokens against BTC, USDT, and KRW.
Meanwhile, Solayer protocol intends to launch its chain in 2025, dubbed infiniSVM, to provide scalable solutions.