Solayer (LAYER) is a cryptocurrency project aiming to become the core decentralized finance (DeFi) infrastructure of the Solana blockchain. By introducing widely used DeFi products to the Solana network, Solayer has made significant strides in achieving this goal. With a rapidly growing community and a strong economic foundation, this article provides insights into what Solayer is, how it works, and how to buy LAYER.
What is Solayer (LAYER)?
Solayer (LAYER), operating on the Solana blockchain, aims to offer comprehensive services to users by bringing together various decentralized finance (DeFi) products under one platform.
Solayer claims that, thanks to its unique InfiniSVM infrastructure, it can handle up to 1 million transactions per second. This infrastructure aims to achieve a speed and standard comparable to traditional financial platforms.
Solayer’s best-known products include sUSD, a stablecoin issued by Solayer; sSOL, the staked version of the SOL cryptocurrency; the platform’s own LAYER coin; and the platform’s credit card called the Emerald Card.
How Does Solayer (LAYER) Work?
Solayer’s decentralized finance products in various fields not only offer unique use cases individually but also interact with each other to generate shared benefits. In general, the common aspect of all products can be summarized as contributing to the Solana blockchain by creating an advanced decentralized finance infrastructure that supports both liquidity and community growth.
How Does sUSD Work?
sUSD, Solayer’s stablecoin, has a mixed reserve structure composed of USD and U.S. Treasury bonds as collateral, similar to other conventional stablecoins. Since the bonds are considered equivalent to cash, sUSD users receive interest income generated from the bonds as passive income, while the USD reserve ensures operational efficiency.
sUSD can be considered a cornerstone of the decentralized finance infrastructure that Solayer aims to build, as it is used for establishing the dollar parity in trading, generating passive income through USD, and facilitating mechanisms such as borrowing and lending in USD.
How Does sSOL Work?
The SOL cryptocurrency, native to the Solana blockchain, can be staked. Staking not only contributes to the security of the Solana blockchain but also generates passive income. However, performing and managing staking requires a certain level of technical knowledge. Therefore, platforms like Solayer simplify the process by offering this service through their own infrastructure.
sSOL represents staked SOL cryptocurrency. Users who stake SOL through Solayer and contribute to the Solana network can earn passive income via Solayer without needing any technical knowledge. Additionally, Solayer offers a service that optimizes the staked SOL coins to maximize passive income.
Thus, the SOL staking process is simplified, making it accessible for everyone to benefit from this opportunity while also enhancing the security of the Solana blockchain.
How Does the Emeral Card Work?
Solayer’s credit card, the Emeral Card, which operates on the VISA infrastructure, allows users to spend their USDC stablecoins. The card also enables users to earn interest income on their USDC, aiming to provide convenience for both savings and daily use.
Key Facts About Solayer (LAYER)
Solayer operates on the Solana blockchain.
Solayer is developed by the Solayer Foundation.
Solayer uses a combination of Proof of Stake (PoS) and Proof of Authority (PoA) consensus mechanisms.
LAYER coin is Solayer’s native cryptocurrency.
LAYER has a total supply of 1 billion.
The LAYER cryptocurrency grants voting rights in decisions regarding Solayer’s governance.
LAYER tokens can be staked to earn passive income.
You can visit the Solayer website here and click here for more detailed information.
How to Store Solayer (LAYER)?
You can store and manage your LAYER assets using browser, desktop, mobile, and hardware wallets that support the Solana blockchain.
How to Buy and Sell Solayer (LAYER)?
You can buy and sell Solayer (LAYER) with Tether (USDT) using the BtcTurk | Global website or mobile app. If you’re not yet a member, you can easily register on our website or app and buy Solayer (LAYER) by depositing cryptocurrency.
