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By Shaurya Malwa|Edited by Parikshit Mishra
May 29, 2025, 6:57 a.m.
- Sol Strategies has filed a prospectus to offer up to $1 billion in securities to increase its investment in Solana.
- DeFi Development Corp. is adopting liquid staking token infrastructure, becoming the first public company to invest in Solana-based liquid staking tokens.
- These initiatives reflect growing institutional confidence in Solana’s blockchain ecosystem and staking capabilities.
Solana’s SOL
got a double dose of institutional adoption this week as two publicly traded firms revealed major initiatives centered on the blockchain’s ecosystem — onetargeting liquid staking, the other aiming toraise up to $1 billionfor direct investment.
Canada-listed Sol Strategies filed a preliminary base shelf prospectus on Tuesday to offer up to $1 billion in securities, including equity and debt, to deepen its exposure to Solana.
STORY CONTINUES BELOW
There is no immediate plan to raise capital, but the filing provides the firm with flexibility to act quickly on future opportunities. The move comes just weeks after Sol Strategies secured a $500 million convertible note and spent its first $20 million tranche to purchase over 122,000 SOL.
Separately, DeFi Development Corp. (Nasdaq: DFDV) said it is adopting liquid staking token (LST) infrastructure developed by Sanctum, becoming the first public company to invest in Solana-based liquid staking tokens (LSTs).
Through its new token dfdvSOL, the company will allow users to stake SOL with DeFi Dev’s validators while retaining liquidity, enabling participation in DeFi or redemption at any time.
Staking refers to locking up tokens (such as SOL) to help run the network and earn rewards in return. Validators are specialized computers that process and verify transactions to maintain the blockchain’s security and ensure its smooth operation.
The dual moves show growing confidence in Solana’s staking and validator infrastructure among corporate players and could mark the early stages of a broader institutional push toward SOL.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
