Alyssa Davidson
Posted: Oct 25, 2024 3:07 AM Updated: Oct 25, 2024 4:05 AM
Correction and fact check date: October 25, 2024, 3:07 AM
briefly
Solayer introduced the open source Solana LRT codebase and Solana program templates, providing free templates to support various program implementations.
Solana’s Restake network, Solayer, has announced the release of the open source Solana Liquid Restake Token (LRT) codebase. As part of the Solayer 101 initiative, the platform introduced Solana Program Templates (SPT), which provides free, open-source program templates for Solana developers to facilitate the implementation of various programs.
The SPT repository, part of Solayer 101, aims to solve frequently encountered issues in the Solana developer experience. It provides a collection of distributable Rust programs along with TypeScript examples for end-to-end interaction.
The LRT template is the first program of the SPT initiative. Previously, fully deployable LRT templates were not available in Solana, resulting in a fragmented and difficult experience for developers. LRT is designed as an automated custody strategy to diversify stakes across a variety of Actively Verified Services (AVS) launched by Solayer and other re-staking protocols.
Solayer explained the decision to open source the tool, noting that while Solana has a strong user base, the network needs additional developer support. Solana also benefits from new systems and additional applications. Additionally, this represents the first example of an SPT accepting other developer submissions. Moreover, Solayer’s LRT is another yet-to-be-seen mechanism for thriving Solana re-staking.
The goal of this initiative is to increase developer participation and foster new systems built on Solana. Solayer also emphasized that the codebase has not yet been audited and should therefore be used for reference only.
Solayer: Native Restaking now available on Solana
Solayer is the native re-staking protocol on the Solana blockchain, developed to support decentralized applications (dApps) by enhancing network bandwidth and layer 1 security. The core goal of the protocol is to equip Solana dApps with tools to better secure block space and ensure transaction inclusion priority.
Recently, Solayer launched BGSOL, a restocking asset developed in collaboration with Bitget. This asset combines liquid staking rewards with automatic delegation to Actively Verified Services (AVS). By holding BGSOL, users can receive staking profits, and stakes are automatically transferred to Bitget’s AVS to ensure priority transaction processing.
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About the author
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
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Alyssa Davidson
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
more articles