DeFi Development Corp. the leading public-market vehicle for Solana (SOL) accumulation, announced that it has entered into a definitive agreement to acquire a Solana validator business with an average delegated stake of approximately 500,000 SOL . The purchase price of $3.5 million will be satisfied through a combination of $3 million in restricted DFDV stock and $500,000 in cash. Upon completion, the validator operation will be rebranded to DeFi Development Corp., its staking rewards will be integrated into the Company’s revenue streams, and all SOL owned by DeFi Development Corp. will be self-staked through the newly acquired validator business.
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The acquisition marks a key strategic expansion of DeFi Dev Corp.’s role within the Solana network – allowing the Company to directly earn SOL rewards in exchange for validating transactions and securing the network.“This acquisition doesn’t just add a new line of protocol-native cashflow, it amplifies our alignment with the infrastructure underpinning tomorrow’s decentralized economy,” said Parker White, CIO and COO of DeFi Dev Corp. “Owning and operating validators with significant delegated stake puts us at the core of Solana – while furthering our mission of effectively accumulating SOL to deliver superior risk-adjusted returns relative to holding SOL directly.”
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DeFi Dev Corp. has established itself as a unique public-market vehicle for accumulating Solana’s native token, SOL. The acquisition will help further enable market participants to gain transparent exposure to one of the most performant Layer 1 ecosystems in the digital asset industry. DeFi Dev Corp. currently holds approximately 317,273 SOL, valued at approximately $47.9 million.
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Source – GlobeNewswire
