DeFi Development Corp. Adopts Liquid Staking Token Technology for Solana
DeFi Development Corp. has transitioned to using liquid staking token (LST) technology with dfdvSOL from Sanctum, enabling it to stake SOL while maintaining liquidity. This marks the first instance of a public company owning LSTs on the Solana network.
Corporate Investment in Solana
- The firm raised $24 million for further Solana investments, now holding over 609,000 SOL worth more than $105 million.
- Sol Strategies plans to raise up to $1 billion CAD (~$730 million USD) for Solana investments, having already spent $20 million to acquire 122,524 SOL.
Institutional Support for Solana
- R3 partnered with the Solana Foundation to integrate its enterprise blockchain, Corda, enhancing transaction efficiency.
- This collaboration allows institutions to utilize Solana's public blockchain alongside private ledgers.
Price Projections
- TradingView analyst MasterAnanda indicates a potential breakout pattern for SOL that could see prices rise to $400, a 140% increase from current levels.
- There are speculations about SOL potentially exceeding $500 this cycle due to increasing institutional demand.
Solaxy's Layer 2 Solution
- Solaxy has raised nearly $42 million in presale, targeting issues like network congestion and transaction reliability on Solana.
- It utilizes rollup technology to enhance transaction speed and scalability while keeping security intact.
Solaxy Presale Details
- Token price: $0.001738
- Funds secured: $42 million
- Ticker: SOLX
Solaxy aims to improve transaction handling during peak usage and support large-scale decentralized application deployment on Solana.