$SOL Strategies CEO Leah Wald told Cointelegraph:
“We serve corporate and institutional-level clients seeking regulated and reliable access to Solana through delegated staking and customized validator infrastructure.”
Another key player in the partnership is institutional custody platform BitGo. Having partnered with $SOL Strategies in April, BitGo will also be part of this new model.
What is Staking and Why is it Important?
Staking is the process of securing a blockchain network by locking cryptocurrencies for a specific period of time and earning rewards in return. On the Solana network, staking periods (epochs) last approximately two to three days, at the end of which stakers receive rewards in $SOL.
According to Wald, the staking operations the company currently manages include:
- 5 active validators are working,
- 3.59 million $SOL (approximately $647.2 million) worth of assets are being staked,
- More than 5,700 different wallets are actively staking. Only 12% of staked assets come from the company treasury, while the rest is held by third parties.
While staking offers the potential for high returns, it can be risky due to validator behavior. Validators who violate network rules may be penalized through “slashing” of their staked tokens. According to Solana Compass data, there are currently 403 million $SOL tokens staked, worth approximately $73.5 billion.
*This is not investment advice.