Multicoin Managing Partner: SOL DAT generates native yield through staking, offering more advantages than BTC DAT

Jinse Finance reported that Kyle Samani, Managing Partner at Multicoin Capital, recently pointed out in his analysis that compared to the bitcoin-based Digital Asset Treasury model (BTC DAT), SOL DAT has more advantages. He noted that BTC DAT seems to struggle to fulfill obligations under a priority structure due to the lack of native revenue sources. If a company is forced to sell assets during economic downturns, dividends or conversions become a burden and may dilute shareholder value. In contrast, SOL can generate real returns through native staking, with yields coming from organic economic activity and MEV (Maximum Extractable Value, profits gained from transaction ordering). This creates a self-sustaining model where returns are reinvested into SOL, thus providing incentives for long-term holders.