Solana (SOL) - $172.71, Up 23.0 in the last 7 days Solana (SOL) is a platform blockchain that focuses on delivering fast, cheap, and scalable smart contract solutions. The network is powered by the SOL token which is used to interact and transact with the Solana blockchain. The chain has enjoyed recent popularity as the chain of choice to launch meme coins Several large-cap crypto assets enjoyed strong gains in the last week. Solana’s double-digit surge may have been driven by the launch of Solayer, a product akin to the enormously popular Ethereum security solution the EigenLayer. Solayer, like EigenLayer, will give SOL liquid stakers holding tokens like mSOL, bSOL, JITOSOL a way to boost their staking yields by re-staking and offering their stakes to a shared security layer. #solana

Odaily Planet Daily News Solana Restaking protocol Solayer launched a deposit trial on May 17, with a total limit of 20 million US dollars. Users can deposit assets such as mSOL, bSOL, JITOSOL, etc. According to Solayer, the deposit limit was reached within 45 minutes after the trial launch. (BlockWorks)

Odaily Planet Daily News Solana's ecological Decentralization lending protocol marginfi officially announced that the rewards for Marinade Earn Season 1 are now available, and if you have deposited mSOL to marginfi between October 1 and December 31, you will earn 1 MNDE per SOL.

Solana Traders Leveraging Derivatives for High Yields Through Drift Protocol's Super Staking Service Risk-tolerant crypto traders on the Solana blockchain are leveraging their SOL token derivatives to pursue high yields. They stake SOL tokens for mSOL, borrow SOL using mSOL as collateral, and then swap the borrowed SOL for more mSOL. Drift Protocol's Super Staking service simplifies this process into a one-click service, attracting a large number of users seeking passive-leveraged yields.

Jinse Finance reported that risk-tolerant cryptocurrency traders on the Solana blockchain are following Ethereum’s “Liquid Staking Token” (LST) craze, using its SOL token derivatives to pursue high returns. Their rather obtuse process involving staking SOL tokens as proxy receipt tokens called mSOL, then using those mSOL as collateral to borrow SOL, and then swapping that SOL for mSOL again is reminiscent of long-witnessed leverage on steroids method. Other corners of the digital asset market. Solana’s on-chain cryptocurrency trading project, Drift Protocol, unveiled a new service on Tuesday called “super-staking,” which packages the entire re-leveraging cycle into a one-click service, hoping to appeal to broader appeal.