- Sol Strategies (CSE:HODL) announces a new institutional staking partnership with Neptune Digital Assets (TSXV:NDA), a diversified blockchain company, expanding its network of institutional validators on the Solana cryptocurrency network
- The network’s market capitalization stands at over C$106 billion at the time of writing on February 24
- Sol Strategies is a publicly traded Canadian company investing in, supporting and providing infrastructure for the Solana blockchain and ecosystem
- Sol Strategies stock has added 2,281.82 per cent year-over-year
Sol Strategies (CSE:HODL) announces a new institutional staking partnership with Neptune Digital Assets (TSXV:NDA), a diversified blockchain company, expanding its network of institutional validators on the Solana cryptocurrency network.
The Solana network enables the storing of data and value, as well as the operation of decentralized applications in finance, gaming, art, media and more. Transactions on the network are approved by validators, who lock up or stake a certain amount of Solana for this privilege, which earns them more Solana in the form of rewards. The network’s market capitalization stands at C$106 billion at the time of writing on February 24.
Under the agreement, Sol Strategies will share partial validator block rewards with Neptune in exchange for its transaction validation services, opening up an avenue for revenue generation with other institutional partners.
According to Monday’s news release, “this innovative approach aligns interests between validators and institutional partners while maintaining the security and decentralization of the Solana network.”
Leadership insights
“We’re seeing increasing demand from organizations looking for secure, compliant staking solutions,” Leah Wald, Sol Strategies’ chief executive officer (CEO), said in a statement. “This partnership further validates our infrastructure and demonstrates the growing institutional adoption of Solana staking.”
“Sol Strategies’ proven track record and robust infrastructure made them the clear choice for our staking needs,” added Cale Moodie, CEO of Neptune Digital Assets. “This agreement further strengthens Neptune’s growing staking portfolio and will drive additional revenue as we continue expanding our asset base.”
About Neptune Digital Assets
Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada. The company’s operations span Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi) and related technology.
Neptune Digital Assets stock (TSXV:NDA) is down by 6.29 per cent trading at C$1.64 per share as of 1:45 pm ET. The stock has added 331.58 per cent year-over-year.
About Sol Strategies
Sol Strategies is a publicly traded Canadian company investing in, supporting and providing infrastructure for the Solana blockchain and ecosystem.
Sol Strategies stock (CSE:HODL) is down by 16.83 per cent trading at C$2.62 per share as of 2 pm ET. The stock has added 2,281.82 per cent year-over-year.
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