Nasdaq-listed DeFi Development Corp. (DFDV) jumped 30% on Friday to fresh record highs after unveiling a partnership
Nasdaq-listed DeFi Development Corp. (DFDV) soared 30% on Friday to reach a record high as the company announced a partnership with Solana's top memecoin BONK and a new purchase of Solana's SOL tokens.
DeFi Development said it will be co-managing a Solana validator with BONK, marking the first time a memecoin community and a public company will be sharing staking infrastructure on Solana, according to a press release. The cooperation will also include integrating BONK's own liquid staking token, BONKSOL. Both parties will incrementally 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 comes a day after the firm bought another 16,447 SOL tokens, increasing its holdings to 609,190 SOL, valued at approximately $107 million. The company acquired the tokens for $2.3 million at an average price of $139.66, lower than the current market price. DeFi Development previously disclosed plans to acquire a substantial amount of locked-up tokens at a reduced price.
The company, formerly recognized as real estate technology firm Janover, is among a growing number of public companies integrating digital assets into their balance sheet, drawing inspiration from the macroeconomic Strategy's framework focused on bitcoin BTC$.
DeFi Development has shifted its attention to Solana, accumulating the network's native tokens and operating validators, following the acquisition of a majority stake by former Kraken executives last month.
DFDV shares surged more than 2,800% since the company's pivot, reaching $118 during the Friday session.
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