Binance has launched its 8th HODLer Airdrop project, Solayer (LAYER), within the Solana ecosystem. BNB holders can participate in the airdrop if subscribed to Simple Earn from February 1 to February 5. The total supply of LAYER is 1 billion, with 30 million tokens for the airdrop. Additional support for Solayer comes from Binance and other exchanges, and a new scalable chain will be launched by 2025.
Binance Holdings Ltd, one of the leading cryptocurrency exchanges globally, has introduced its 8th project on the HODLer Airdrop known as Solayer (LAYER). This initiative is part of the Solana (SOL) ecosystem and aims to improve the network’s restaking capabilities. Notably, Binance has over 250 million registered users worldwide, enhancing the reach of this new token.
For BNB holders subscribed to Simple Earn products between February 1 and February 5, the LAYER token airdrop will be available. Eligible Binance users can expect to receive their LAYER tokens in their spot wallets within 24 hours after the announcement. Furthermore, Binance will facilitate open trading of the LAYER token beginning Tuesday at 14:00 UTC against multiple cryptocurrencies, including Bitcoin (BTC), Tether (USDT), and BNB.
The total supply of Solayer tokens is capped at 1 billion, with the HODLer Airdrop distributing 30 million LAYER tokens, constituting 3% of the total supply. An additional 20 million tokens is allocated for marketing over the next three months. Consequently, the circulating supply will rise to 210 million, representing 21% of the overall supply.
Moreover, a significant allocation of 51.23% of LAYER tokens is earmarked for community and ecosystem development, disbursed every three months over four years. Within this allocation, 34.23% is reserved for research and development, while 14% is set aside for community events and incentives. The remaining tokens are divided among investors, core contributors, and the Solayer Foundation.
The Solayer protocol has capitalised on Binance’s support through initiatives like YZi Labs and previous collaborations, such as the launch of BNSOL, a liquid staking token (LST) on the Solana network. Additionally, the LAYER tokens will also be listed on Bithumb and Upbit, increasing accessibility for investors. Furthermore, the protocol plans to launch its scalable chain, infiniSVM, by the end of 2025 to enhance its offerings within the blockchain landscape.
