Who Controls the $LAYER Token? An Overview of Solayer’s

Governance 🚀

The Solayer (LAYER) token is part of a decentralized network and is not owned by any individual or private entity in the conventional sense. Rather, it operates within a decentralized ecosystem managed by the Solayer Foundation. This nonprofit organization focuses on the development and growth of the Solayer network, built on the Solana blockchain.

Although some sources have linked prominent figures such as Anatoly Yakovenko and Raj Gokal, co-founders of Solana, to the token's creation, the official launch of the Solayer token took place in August 2024. The Solayer Foundation, through official communications like “Solayer Foundation Announces Native Token, $LAYER” and “Introducing the Solayer Foundation, LAYER Token, and Season 1,” clarifies that the governance of the Solayer network is decentralized, with decisions being made collectively by $LAYER token holders.

In summary, the control and oversight of the $L$LAYER ken are vested in the Solayer Foundation, ensuring that the project follows a community-driven, decentralized governance model rather than being dictated by individual stakeholders or a profit-driven corporation. The community plays an active role in shaping the direction of the protocol.

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