coindesk.com
Nasdaq-listed DeFi Development Corp. (DFDV) jumped 30% on Friday to fresh record highs after unveiling a partnership with Solana’s top memecoin $BONK and purchasing another batch of Solana's $SOL $SOL$170.64 tokens.
The company said it will co-manage a Solana validator with $BONK, claiming to be the first time a memecoin community and a public company sharing staking infrastructure on Solana, according to a press release. The cooperation also expands to integrate $BONK's own liquid staking token, BONKSOL. Both parties will grow the validator’s stake and split the rewards.
"This validator partnership is a natural next step in $BONK’s mission to empower our community and accelerate the adoption of Solana," said Nom, core contributor at $BONK. "By teaming up with DeFi Dev Corp., we’re not only reinforcing the decentralized infrastructure of Solana but also creating a new standard for how community tokens can scale and sustain their ecosystems."
The announcement came one day after the firm bought another 16,447 $SOL tokens, bringing its holdings to 609,190 $SOL, worth around $107 million. The firm acquired the tokens for $2.3 million at an average price of $139.66, below spot prices. The company earlier shared plans to acquire locked-up tokens at a discount.
The company, formerly known as real estate tech platform Janover, is part of a growing roster of public firms putting digital assets on their balance sheet, taking a page of the Strategy's playbook centered around bitcoin BTC$103,904.18. DeFi Development pivoted to focus on Solana, stacking the network's native tokens and operating validators, after a group of former Kraken executives acquired a majority stake last month.
DFDV shares gained over 2,800% since the firm's pivot, hitting $118 during the Friday session.
Read more: DeFi Development Plans to Raise $1 Billion to Buy More Solana