DeFi Development Corp. Shares Jump 30% After BONK Partnership Announcement
DeFi Development Corp. (DFDV) shares increased by 30% on Friday, reaching record highs following a partnership with BONK, a memecoin on Solana. Key points include:
- Co-management of a Solana validator with BONK, marking the first collaboration between a public company and a memecoin community for staking infrastructure.
- Integration of BONK's liquid staking token, BONKSOL, with plans to grow the validator’s stake and share rewards.
- Acquisition of 16,447 SOL tokens, bringing total holdings to 609,190 SOL valued at approximately $107 million.
- Tokens purchased for $2.3 million at an average price of $139.66, below market rates.
- DFDV shares have risen over 2,800% since the company's strategic pivot toward Solana.
The firm aims to enhance decentralized infrastructure on Solana while expanding its digital asset portfolio.