Activities on the Solayer project and preparing for the campaign
Solayer is a Solana-based restaking protocol that will be used to secure other dApps in the future. In short, it is a kind of analog of EigenLayer, but on Solana.
The amount of the investment has not been disclosed at this time.
Further in the article we will look at the activities in the project and show you how to participate in them to be able to qualify for an airdrop in the future.
Available activities
Note: you will need a Phantom wallet to pass. If you don’t have it, you can use our guide to install and configure it.
The project team will soon be launching The Valley of Solayer campaign, you will need to fulfill at least 3 of the 6 conditions in order to participate:
- get a permanent referral link, for this you will have to contribute from 10 SOL;
- deposit into any of the available LST pools;
- participation in epoch 0;
- participate in at least 3 eras;
- invite at least one friend to make a deposit;
- to use all the invitation codes.
Note: is currently in its 2nd epoch. Before starting the activity, read the conditions in detail to see if you should participate, as you need to complete at least 3 out of 6.
Activity guide
- Go to the site, connect your wallet and perform social activities:
- Enter the invite code P2KFWK to gain access to the site.
- Contribute funds to the protocol and fulfill at least 3 of the 6 conditions to get access to the campaign in the future. You can check if you meet the conditions on the website.
Note: funds will be blocked until the start of the third epoch. The date and time of its start is unknown.
Once the conditions are met, all that’s left to do is wait for the campaign to launch, which is tentatively scheduled for July 4.
The fourth era
The team launched the fourth epoch in which withdrawals from the protocol became available to users. Also, liquidity providers, depending on the token deposited, received wrapped assets. For example, if you deposited SOL tokens into Solayer and did not withdraw funds, you should have sSOL on your wallet, which can be used for further point farming.
Note: if you have not yet provided liquidity, a guide on how to do so can be found below. If you have already made a deposit, go to the ‘Additional Activity’ section.
- Go to the site, connect your wallet and perform social activities.
- Choose the token you want to deposit, click Deposit, enter the desired amount and confirm the deposit.
Important: if contributing a non-native SOL, you will not be able to use the resulting liquid restaking tokens (LRT) for additional activity.
Additional activity
Once you have a wrapped sSOL asset, it can be used to multiply farming.
DeFi
The Solayer team suggests using sSOL to provide liquidity in third-party protocols, which will provide a boost to farming.
- Go to the DeFi tab, choose your favorite protocol and make a deposit.
Note: please note that the submitted projects offer different types of pools. Some of them will require you to use a pair of SOL and sSOL, while in others only sSOL will suffice.
Delegate
Another option for using sSOLs is to delegate them to AVS providers.
- Go to the Delegate tab, select the provider you like and click on it:
- Enter the number of tokens you want to delegate and confirm the action by clicking Delegate:
Conclusion
As stated by the team, the protocol is designed to secure dApps by introducing the restacking mechanism we all know about. However, it should also be noted that Solayer is newly launched, so all risks should be considered when being active.
Highlights:
- contributed funds to the protocol are blocked until the third epoch;
- 3 and 6 conditions must be met in order to participate in a future campaign;
- The project is new, so you should consider the risks if you contribute funds.
If you have any questions while going through the activities, you can ask them in our X.
Useful links: Website | X | Discord
All information is provided for informational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
It will be interesting
