The Solana re-staking protocol Solayer has completed a $12 million seed round financing, led by Polychain Capital

ChainCatcher news, the Solana ecosystem re-staking protocol Solayer has completed a $12 million seed round financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and the Arthur Hayes family office Maelstrom, resulting in a post-money valuation of $80 million.

Co-founder Rachel Chu revealed that the financing round ended in May, structured as a Simple Agreement for Future Equity (SAFE) plus token warrants. The new funding will be used to expand the team, integrate new protocols, and prepare for the second phase of the platform, with plans to hire more employees in functions such as growth, institutional partnerships, and engineering. Solayer also plans to launch its native token in the future, which is currently "in design."

It is reported that earlier this month, Binance Labs stated that it has invested in Solayer, which is part of the same $12 million seed round financing. Last month, Solayer also announced an undisclosed amount of Pre-Seed financing, with angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.