On Friday, Solana Virtual Machine (SVM) layer 2 blockchain, Sonic announced a strategic partnership that is aimed at advancing the Solana restaking ecosystem. According to a post on its official page on X, the L2 network disclosed that it partnered with well-known restaking platform Solayer and liquid restaking layer, Andrastea.
In the disclosure, Sonic explained how the synergy will focus on enhancing rewards for Solana delegators with the view to push the restaking sector of the network to a new height. As part of the participation criteria, the layer 2 network demands investors to delegate SOL to the Sonic AVS (Actively Validated Service).
To earn more rewards, participants can as well delegate their holdings to Sonic on Andrastea. Consequently, investors will receive an LRT token, lrtsSOL that is pegged to the price of $SOL.
It is worth mentioning that Sonic launched the initiative in celebration of a huge milestone the layer 2 network surpassed. Recently, Sonic SVM surpassed $50 million worth of SOL stake delegation on Solayer.
This significant landmark made Sonic SVM the largest delegated AVS on Solayer. Actively Validated Services (AVS) are services that undergo constant monitoring and validation with the aim of supporting them to function effectively.
Additionally, AVS requires a proactive and endless effort which makes it different from other traditional services that require reactive checks. With the aid of constant validation, AVS helps detect and address security lags before leading to serious issues.
Side Notes on Sonic SVM
Sonic SVM has earned a good reputation as a project that supports developers to scale the Solana network and improve gaming quality speed. Recall that in September, the protocol revealed that it intends to sell up to $12.8 million worth of validator nodes in its HyperGrid.
The HyperGrid is a decentralized framework that is structured to assist new networks. However, the project intends to use the returns to fund its treasury and support the development team and grants.
As indicated, Sonic SVM is aiming to use node sales to raise funds while maintaining its decentralized posture. Recently, other projects like Aethir, Sophon, XAI Games, CARV, and Poweloom have solved nodes to inject new funds into their initiatives.
In a recent interview, the founder and CEO of Sonic SVM, Chris Zhu said Solana decentralized services are now gaining prominence. The executive said these projects have proved to be beyond regular liquid staking tokens.
Lastly, Zhu added that liquid staking now serves as a means of enhancing security and value for various services.
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