Sanctum Partnership Sees DeFi Dev Corp. Embrace Solana LSTs

DeFi Development Corp. (Nasdaq: DFDV) has announced the adoption of liquid staking token (LST) technology, marking a significant milestone as the first publicly traded company to invest in Solana-based LSTs.

The company will allocate a portion of its SOL treasury to dfdvSOL, an LST developed using Sanctum’s protocol infrastructure. This strategic move aims to enhance DeFi Dev Corp.’s validator operations and treasury management, aligning with its mission to maximize SOL Per Share (SPS) growth, a proprietary metric measuring the value of SOL held relative to DFDV shares.

Parker White, the DeFi Dev’s COO, shared a key update on the adoption of Solana LSTs.

This initiative extends our validator business into the rapidly growing liquid staking sector. The adoption of dfdvSOL not only creates additional ways to drive stake to our validators and increase SOL holdings, but also advances our role as a long-term participant in the Solana ecosystem.

The dfdvSOL tokens represent staked SOL plus accumulated rewards, providing holders with liquidity while earning staking rewards. These tokens can be utilized across various decentralized and centralized finance applications or redeemed via the Sanctum protocol.

By integrating Sanctum’s LST technology, DeFi Dev Corp. strengthens its position within the Solana ecosystem and sets a precedent for public companies seeking to engage with blockchain networks actively. The company plans to provide further details on the rollout and integration of dfdvSOL and other LSTs soon.

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