The investment company focused on Solana, Sol Strategies, has submitted a preliminary base shelf prospectus for up to $1 billion, while DeFi Development Corp. revealed it will adopt liquid staking of SOL for its treasury operations.
According to an announcement from Sol Strategies on May 27, this publicly traded Solana investment and infrastructure company in Canada "will be allowed to issue up to $1 billion in common stock," but did not indicate an immediate issuance. CEO Leah Wald stated that this move supports the company's long-term growth plans.
Leah said, "The submission of the base shelf prospectus supports our growth strategy by providing flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem."
In an announcement on May 28, the Solana treasury company DeFi Dev Corp. announced the adoption of Solana liquid staking tokens. The company is now shifting part of its Solana holdings to the liquid staking token dfdvSOL.
This announcement came after DeFi Dev Corp. added 88,164 SOL to its treasury at the end of April, valued at $11.5 million at the time. The company then held Solana (SOL) worth $34.4 million.
Liquid staking allows token holders to earn staking rewards without locking up their assets. Instead, they receive a liquid token that can be traded or used in decentralized finance (DeFi) applications.
DeFi Dev Corp. expects that adopting this technology will "enhance the company's validator operations and treasury management, aligning with its mission to maximize per-share SOL growth." The company's Chief Investment Officer and Chief Operating Officer Parker White stated:
"Adopting dfdvSOL not only creates more ways to drive staking to our validators and increase SOL holdings but also enhances our role as a long-term participant in the Solana ecosystem."
Sol Strategies also announced on May 28 that it has completed several key audits and certifications. The company passed SOC 2 Type 1 and SOC 1 Type 1 audits and obtained ISO 27001 certification for its Solana staking platform.
SOC 2 Type 1 is a report that assesses a company's controls related to security, availability, processing integrity, confidentiality, or privacy at a specific point in time. Such audits validate whether the company's controls were in compliance with trust service criteria at the time of the examination.
SOC 1 Type 1 is a similar report that focuses on internal controls over financial reporting at a specific point in time. This audit assesses whether the controls are suitably designed but does not evaluate their effectiveness over time.
Finally, ISO 27001 is an international standard that specifies the requirements for an information security management system. These standards help manage risks related to data confidentiality, integrity, and availability through a framework of continuous improvement.
To obtain this ISO certification, a company must demonstrate documentation and implementation of its controls. Leah from Sol Strategies explained that all these measures are aimed at ensuring institutional trust:
"By achieving SOC 2 Type 1 and SOC 1 Type 1, along with our ISO 27001 certification, we demonstrate that institutional clients can trust Sol Strategies to meet their Solana staking needs."
These compliance efforts come as the company continues to position itself as a major Solana validator. In previous announcements, Sol Strategies disclosed that it has issued $500 million in convertible bonds to purchase and stake SOL.
Related: Metaplanet issues $21 million in bonds to purchase Bitcoin (BTC), just a day after completing $50 million in financing.
Original: “Investment Company Focused on Solana Takes Action on Staking, Treasury, and Compliance”
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