Solana-focused public company DeFi Development Corp has announced a strategic partnership with memecoin BONK, which is part of the Solana ecosystem.
With the news of the partnership, the company’s stock price reached new highs. Just before this development, the company purchased an additional 16,447 SOLs for approximately $2.3 million, bringing its total SOL holdings to 609,190. The total value of these assets reached approximately $107 million.
According to the company, DeFi Development Corp and BONK will jointly run a validator node. The parties will jointly increase the stake in the node and share the rewards. This partnership is the first validator collaboration between a public company and a large community memecoin.
“We are excited to partner with a strong community like BONK. It is a strategic step for us to contribute to the most dynamic and influential community in the Solana ecosystem while also developing our validator infrastructure,” said Parker White, CIO and COO of DeFi Development Corp.
The company’s core strategy is to generate revenue through its validator businesses, accumulate more SOL, and increase the company’s SOL per share (SPS). The SPS metric is a proprietary indicator that tracks the Solana equivalent of shares held by DFDV shareholders.
*This is not investment advice.
