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Cryptocurrency News Articles
DeFi Development Corp. (Nasdaq: DFDV) Partners with Bonk to Launch Validator Node
May 19, 2025 at 04:11 pm
This collaboration, along with additional SOL purchases, has significantly impacted DFDV's stock price.
DeFi Development Corp (NASDAQ:DFDV), a company focused on accumulating Solana (CRYPTO: SOL) and expanding its validator business, has announced a partnership with Bonk, a leading memecoin in the Solana ecosystem. This collaboration, along with additional SOL purchases, has had a significant impact on DFDV's stock price.
What Happened: DFDV and Bonk will jointly manage a Solana validator node, the announcement said. This initiative marks the first instance of a publicly listed company and a major community memecoin sharing staking infrastructure on Solana. Both entities will contribute to increasing the validator's stake, and they will share the rewards. The partnership will also involve integrating Bonk's liquid staking token, BONKSOL.
"We are thrilled to welcome Bonk to the DFDV family," said Dev Pacetti, co-founder and CEO of DFDV. "This partnership aligns perfectly with our overarching strategy to expand our validator business, generate revenue that can be used to accumulate more SOL, and ultimately increase SOL Per Share (SPS), the proprietary performance metric that guides our actions."
This partnership is a natural next step in BONK's mission to empower our community and accelerate the adoption of Solana,” said Nom, Bonk core contributor. “We believe that this partnership will be mutually beneficial and will serve to further both of our goals.”
The partnership follows DFDV's recent purchase of an additional 16,447 SOL tokens for $2.3 million (average price of $139.66), bringing its total holdings to 609,190 SOL, valued at approximately $107 million.
DFDV has adopted a treasury policy where its primary reserve asset is SOL, aiming to provide investors with exposure to the Solana ecosystem and intending to use the liquidity to expand its validator business and accumulate more SOL.
Related Link: A Deep Dive Into DeFi Development's All-Out Assault On Solana
DFDV's stock has seen substantial gains following these announcements. On Friday, DFDV shares closed at $156.99, showing a 74.45% increase from Thursday and a 2,800% surge since the company pivoted its focus to Solana. However, it is currently trading at $136 in the after-hours session.
Later Friday, DFDV shares were up 8.4% at $134 in the after-hours trading.
See More: Best Cryptocurrency Memes
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