“The Toronto-Listed Firm Said It Will Use The Capital To Buy More Sol and Expand Its Solana Validtor Business.”, – WRITE: www.coindesk.com
The Capital Will Be Exclusively Used for Purchasing Sol Tokens and Expand the Firm’s Blockchain Validtor Operation, The Company Said in A Release. HODL Shares Surged As Much As 18% to C $ 2.16 Before Paring Somes of the Gains, But Were Still Up 7% from Yesterday’s Close.
“This is the Largest Finance Facility of It Kind in the Solana EcoSystem-and The First Ever Directly Tied to Staking Yield,” CEO Leah Wald Said in the Statement. “Every dollar deployed is immediatally yield-generation, and accounting to botha balasa sheet and our validator business.
The Initial $ 20 Million Tranche of the Deal, Signed with New York-Basted Private Equity Investment Firm Atw Partners, is Expert to Close by May 1, The Company SAID. The interest on the Convertible Notes will be paid out in Sol, Calculated as Up to 85% of the stake yield on sol staged with the Firm’s Validators.
The Company It Is Also Exploring a Move to The Nasdaq Stock Exchange in the Us, Giving IT Access to a Deeper Investor Base. The Move Follows Similar Plans of Canada-Lisada Digital Asset Investment Firm Galaxy Digital, WHICH IS SET TO DEBUT-NASDAQ in May After Being Granted Regulatory.
Sol Strategies, Led by Wald, Co-Funder of Digital Asset Manager Valkyrie Investments, Spearheaded The Movement of Adapting Michael Saylor’s Bitcoin Treasury Strategy. The FIRM HELD 267,151 SOL TKENS AS OF LAST MONT, WORTH OVER $ 40 Million at Current Prices. IT ALSO BOUGHT THREE VALIDATOR BUSINESSES LAST MONTH, Bringing The Total Amount of Sol Staged At the Firm’s Validators to 3,351,617 SOL, or Over $ 500 Million.
US-Listed Real Estate Firm Janover, Now Known As Defi Development Corp, Recently Followed Sol Strategies’ Footsteps in Pursuing A Solana-Focused Crypto Treate.
Read More: Janover Takes Page from Saylor Playbook, Doubling Sol Stack to $ 20m As Stock Soars 1700%
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