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DeFi Dev Corp. becomes the first public company to hold LST on Solana.
On May 28, DeFi Development Corp. (Nasdaq: DFDV) – the first public company to follow the Solana (SOL) accumulation treasury strategy – announced the adoption of Liquid Staking Token (LST) technology, starting with the dfdvSOL token. This token represents SOL staked in validators operated by DeFi Dev, based on infrastructure from Sanctum.
dfdvSOL helps investors earn staking rewards while maintaining liquidity, and simultaneously enhances the "SOL Per Share" index – a measure of the company's treasury efficiency. Users can utilize dfdvSOL in DeFi/CeFi applications or convert it back through Sanctum.
The company expects dfdvSOL to increase the amount of staked SOL, expand its influence in the Solana ecosystem, and assert its leading position in the field of cryptocurrency finance for the mass market.