DeFi Development Corp announced that it became the first publicly traded company to hold a liquid staking token on Solana
PANews reported on May 29 that, according to GlobeNewswire, Nasdaq-listed DeFi Development Corp (code: DFDV) announced that it would adopt the liquid staking token (LST) technology developed by Sanctum, becoming the first listed company to invest in Solana liquid staking tokens. The company invests a portion of its SOL reserves in dfdvSOL, which represents the staked assets delegated to DeFi Dev validators.
How dfdvSOL works: Users stake SOL to obtain dfdvSOL tokens, which can be used in DeFi/CeFi applications or redeemed through the Sanctum protocol. According to DeFi Dev's chief investment officer, the move will push the validator business into the liquid staking space and enhance the company's participation in the Solana ecosystem.
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