Sonic SVM partners Solayer, Adrastea to expand Solana restaking

Sonic, a layer-2 blockchain specifically designed for gaming applications within the Solana ecosystem, has recently announced a series of strategic partnerships with both Solayer and Adrastea Finance, with the primary goal of expanding and enhancing the Solana restaking ecosystem. The Sonic SVM team made this significant announcement on October 31, emphasizing that the platform has successfully surpassed the impressive milestone of $50 million in SOL tokens delegated on the Solayer protocol. With this remarkable achievement, Sonic has positioned itself as the largest actively validated service on Solayer, which currently boasts a total value locked exceeding $302 million.

In addition to its collaboration with Solayer, Sonic is also partnering with Adrastea Finance, a liquid restaking layer that aims to bolster the overall market for Solana restaking. This partnership comes at a time when Solana is witnessing increasing adoption within its decentralized finance (DeFi) ecosystem, with both staking and restaking activities benefiting from several key developments that have taken place in recent months. Notably, in August, the liquid staking protocol Jito formed a partnership with the restaking layer Fragmetric to successfully launch the liquid restaking token fragSOL on the Solana blockchain. Furthermore, Renzo, which is a protocol dedicated to liquid restaking tokens, introduced Solana’s first-ever liquid restaking token (LRT) on the Jito platform earlier that same month.

To celebrate and commemorate its achievement of reaching $50 million in delegated SOL, Sonic has plans to implement a rewards program in collaboration with Adrastea Finance. This exciting initiative aims to further incentivize SOL delegators who are participating on the Solayer platform. Specifically, users who choose to delegate their SOL or eligible liquid staking tokens using Sonic’s Automated Validation Service (AVS) will be eligible to earn bonus rewards as part of this program. In addition to this, users who delegate their Sonic through the Adrastea Finance protocol will also receive lrtsSOL, which is an LRT token pegged at a 1:1 ratio to SOL. This token will provide holders with the opportunity to access a variety of additional options and opportunities throughout the DeFi ecosystem.

According to comprehensive data from DeFiLlama, there are currently a total of 192 protocols that offer liquid staking solutions, and the cumulative total value locked across these various assets has reached an impressive figure exceeding $45 billion. Meanwhile, the combined value of the restaking and liquid restaking ecosystems is reported to account for more than $15 billion and $10 billion, respectively, further underscoring the rapid growth and expanding influence of these innovative financial mechanisms within the broader cryptocurrency landscape.