Nasdaq-listed DeFi Development Corp. (DFDV) jumped 30% on Friday to fresh record highs after unveiling a partnership with Solana’s top memecoin BONK and purchasing another batch of Solana’s SOL SOL$170.41 tokens.
The company said it will co-manage a Solana validator with BONK, claiming to be the first time a memecoin community and a public company sharing staking infrastructure on Solana, according to a press release. The cooperation also expands to integrate BONK’s own liquid staking token, BONKSOL. Both parties will grow the validator’s stake and split the rewards.
“This validator partnership is a natural next step in BONK’s mission to empower our community and accelerate the adoption of Solana,” said Nom, core contributor at BONK. “By teaming up with DeFi Dev Corp., we’re not only reinforcing the decentralized infrastructure of Solana but also creating a new standard for how community tokens can scale and sustain their ecosystems.”
The announcement came one day after the firm bought another 16,447 SOL tokens, bringing its holdings to 609,190 SOL, worth around $107 million. The firm acquired the tokens for $2.3 million at an average price of $139.66, below spot prices. The company earlier shared plans to acquire locked-up tokens at a discount.
The company, formerly known as real estate tech platform Janover, is part of a growing roster of public firms putting digital assets on their balance sheet, taking a page of the Strategy’s playbook centered around bitcoin BTC$104,015.58. DeFi Development pivoted to focus on Solana, stacking the network’s native tokens and operating validators, after a group of former Kraken executives acquired a majority stake last month.
DFDV shares gained over 2,800% since the firm’s pivot, hitting $118 during the Friday session.
Read more: DeFi Development Plans to Raise $1 Billion to Buy More Solana
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