Nasdaq-listed DeFi Development Corp. (DFDV) jumped 30% on Friday to recent document highs after unveiling a partnership with Solana’s prime memecoin BONK and buying one other batch of Solana’s SOL SOL$172.22 tokens.
The corporate mentioned it is going to co-manage a Solana validator with BONK, claiming to be the primary time a memecoin group and a public firm sharing staking infrastructure on Solana, in response to a press release. The cooperation additionally expands to combine BONK’s personal liquid staking token, BONKSOL. Each events will develop the validator’s stake and break up the rewards.
“This validator partnership is a pure subsequent step in BONK’s mission to empower our group and speed up the adoption of Solana,” mentioned Nom, core contributor at BONK. “By teaming up with DeFi Dev Corp., we’re not solely reinforcing the decentralized infrastructure of Solana but additionally creating a brand new customary for the way group tokens can scale and maintain their ecosystems.”
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The announcement got here someday after the agency bought one other 16,447 SOL tokens, bringing its holdings to 609,190 SOL, price round $107 million. The agency acquired the tokens for $2.3 million at a median value of $139.66, beneath spot costs. The corporate earlier shared plans to accumulate locked-up tokens at a reduction.
The corporate, previously often known as actual property tech platform Janover, is a part of a rising roster of public corporations placing digital belongings on their stability sheet, taking a web page of the Technique’s playbook centered round bitcoin BTC$104,400.32. DeFi Development pivoted to focus on Solana, stacking the community’s native tokens and working validators, after a gaggle of former Kraken executives acquired a majority stake final month.
DFDV shares gained over 2,800% because the agency’s pivot, hitting $118 throughout the Friday session.
Learn extra: DeFi Development Plans to Raise $1 Billion to Buy More Solana
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