Sonic SVM tops $50M in Solana staking, announces new partnerships
2024-11-01

Solana layer-2 blockchain Sonic has surpassed a significant staking milestone, announcing a new partnership to promote the growing restaking industry on the Solana network.
Sonic, the first gaming-focused Solana Virtual Machine (SVM) L2 network, has partnered with restaking platform Solayer and liquid restaking layer Adrastea, to enhance Solana delegator rewards.
The partnership comes as Sonic SVM surpassed $50 million worth of Solana SOLUSD staked delegation on Solayer, according to an announcement shared with Cointelegraph.
This makes Sonic SVM the largest delegated AVS (Actively Validated Service) on Solayer.
The $50 million milestone highlights the growth potential of Solana’s staking and restaking ecosystem, according to Chris Zhu, founder and CEO at Sonic SVM. He told Cointelegraph:
Liquid staking grew into the largest protocol category on Ethereum, worth a cumulative $44 billion in total value locked (TVL), while restaking is worth $15 billion, as the fifth largest protocol category, according to DefiLlama data.
Some blockchain builders are expecting to see similar explosive growth from Solana-based restaking and liquid staking solutions.
Can Solana restaking rival Ethereum’s growth?
Solana-based restaking could be poised for significant growth, potentially matching Ethereum’s ecosystem, according to Sonic’s Zhu.
The innovation from other Solana-based protocols like Jito, Solayer and Fragmetric could significantly contribute to the restaking ecosystem on the network, Zhu said, adding:
Others also see potential in the niche. Bybit Research expects Solana-based liquid staking to increase over fivefold due to sustained retail adoption.
Bybit Research told Cointelegraph:

Solana-based liquid staking is worth $5.9 billion in TVL at publication, DefiLlama data shows.