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crypto.news 2025-01-13 08:43:24

Overwhelming demand delays Solayer’s LAYER token sale after 15x registration surge

Overwhelming demand delays Solayer’s LAYER token sale after 15x registration surge

Solayer has postponed the community sale subscription for its token, LAYER, to December 16, 2025, at 10:00 UTC. The community sale for Solayer, a restaking network built on Solana ( SOL ), has been postponed. Buidlpad, the launchpad managing the sale, tweeted on Jan. 13 that the platform received ’15x the registrations they anticipated,’ citing this as the reason for the delay. Earlier on Jan. 10, the platform announced the launch of the Solayer community sale, which would provide retail investors with the opportunity to sign up to purchase LAYER tokens. We will be postponing the start of the Solayer Community Sale subscription to 1/16/2025 at 10:00 UTC. This is necessary due to an overwhelming number of registrations and we would like to ensure thorough management and processing for a fair distribution. We’ve received 15x the… pic.twitter.com/4EkF7vnECD — Buidlpad (@buidlpad) January 13, 2025 Solayer, which focuses on layer 2 scalability and performance through hardware-accelerated clusters, SDN, and RDMA, announced in its 2025 roadmap that it now supports 100 Gbps bandwidth and over 1 million TPS, making it competent for high-performance decentralized applications . The community sale provides early retail investors the opportunity to engage directly with this vision. You might also like: Solana Labs co-founder accused of hiding ex-wife’s ‘millions of dollars’ in crypto staking gains Solayer community sale The LAYER token offers early retail investors a governance and utility asset, enabling them to contribute to the platform’s growth and actively participate in decision-making. Additionally, Solayer announced that Emerald Card holders will receive the first batch of LAYER tokens at a highly discounted price, with the tokens fully unlocked. To participate, individuals must meet specific conditions, including registering on the platform, having a verified account on X (formerly Twitter), following Buidlpad on X, and holding designated tokens. Allocations will be determined based on the sale rules. You might also like: Sonic SVM partners Solayer, Adrastea to expand Solana restaking For the Solayer community sale, the minimum subscription amount is set at 100 USDC or its equivalent, while the maximum is capped at 2,000 USDC. Whitelisted and registered Key Opinion Leaders are permitted a higher limit of up to 5,000 USDC or its equivalent. The guidelines further specify that if the community sale is oversubscribed, final allocations will be calculated on a pro-rata basis, considering the total subscription amount and the number of tokens available for the sale. Any oversubscription payments will be automatically refunded to participants’ wallets as payment tokens before 10:00 AM (UTC) on January 15, 2025. With the community sale now postponed, Buidlpad has not yet announced the next steps. The platform has also emphasized that bots and farming activities are strictly prohibited, as they are often used to unfairly accumulate a disproportionate share of tokens. Bots and farms please stop wasting your time. You will not be eligible as the sale is for the true community of Solayer. Focus your efforts elsewhere. — Buidlpad (@buidlpad) January 13, 2025 Read more: Crypto VC funding: Some $190m put to work, OG Labs and Eventflo secure capital

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