- SOL Global Investments (CSE:SOL) has staked its initial investment of 8,123 tokens of the Solana cryptocurrency at a yield of 5.6 per cent to enhance returns and foster sustainable growth
- The company’s staking strategy will focus on liquidity, compounding and disciplined validator selection
- SOL Global is a pure-play crypto stock developing and investing in the Solana blockchain
- SOL Global stock is up by 159.09 per cent year-over-year but remains down by 38.04 per cent since 2019
SOL Global Investments (CSE:SOL) has staked its initial investment of 8,123 tokens of the Solana cryptocurrency at a yield of 5.6 per cent to enhance returns and foster sustainable growth.
Staking refers to the process of transferring a given cryptocurrency to a separate account as an act of good faith for the privilege of validating transactions on that cryptocurrency’s networks or blockchains. Validators receive payment for each transaction they sign off on, with these funds being shared among any investors who’ve staked with a particular validator.
Management’s rationale, which extends to any further Solana investments, rests on the “robust capabilities of Solana’s proof-of-stake protocol to maximize staking rewards while supporting the network’s decentralization and security,” according to Friday’s news release.
The company’s staking strategy is built on liquid staking platforms, compounding through staking reward reinvestment, and meticulous and diversified validator selection guided by performance, high uptime and low fees.
The staking yield supports the company’s pivot towards a pure-play investor and developer of the Solana network following a successful history in the digital asset space.
About SOL Global Investments
SOL Global is a diversified international investment and private equity holding company. The company is divesting its current investment partnerships and minority holdings to focus exclusively on the Solana cryptocurrency network.
SOL Global Investments stock (CSE:SOL) is up by 1.79 per cent trading at C$0.28 per share as of 9:50 am ET. The stock is up by 159.09 per cent year-over-year but remains down by 38.04 per cent since 2019.
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