Solayer’s native token, LAYER, is set to make its Binance debut on Feb. 11 accompanied by an airdrop event scheduled one hour before trading starts.
According to a recent announcement, Binance users who have BNB subscribed to Simple Earn products from Feb. 1 to Feb. 5 stand a chance to gain LAYER token rewards from an airdrop distribution with an allocation of 30 million LAYER tokens or 3% of the total supply.
The airdrop is scheduled to take place on Feb. 11, around one hour before trading starts. Solayer’s native token will be officially listed on Binance starting from Feb. 11 at 14:00 UTC.
Because this is the first time LAYER will hit markets, Binance has attached the seed tag to the token. Binance often applies seed tags to alert users of the underlying risks of new projects, which might carry higher volatility compared to more established on the exchange.
Aside from Binance, LAYER will also be listed on other major crypto exchanges, including MEXC, Bithumb and Upbit.
What is Solayer?
LAYER is the governance token for Solayer, a re-staking protocol built within the Solana (SOL) blockchain. The protocol enables users to earn additional yield by re-staking locked assets through actively validated services. The mechanism is similar to and said to be inspired by Ethereum (ETH)’s own EigenLayer.
The protocol grants users the ability to re-stake assets like SOL, mSOL, and JitoSOL, which supports major dApps and the Solana network.
News of a native token launch has been circulating in the markets as early as September 2024. On Jan. 13, Solayer announced that it will be delaying its community sale subscription for LAYER to Dec. 15, 2025 due to overwhelmingly high demand.
The LAYER token serves as a governance and utility asset for early retail investors to contribute to the platform’s growth and take part in decision-making. In addition, Emerald Card holders will receive the first batch of LAYER tokens at a discounted price.
