DeFi Development becomes the first publicly traded company to invest in Solana liquid staking tokens

Nasdaq-listed company DeFi Development Corp (stock code: DFDV) announced that it has become the first publicly traded company to invest in Solana Liquid Staking Tokens (LST). It will use the LST technology developed by Sanctum to invest a portion of its SOL holdings into dfdvSOL. dfdvSOL is a liquid staking token delegated to DeFi DevCorp. validators, representing the underlying staked SOL assets and accumulated staking rewards. Previously reported, on May 12, DeFi Development (DFDV) announced the purchase of 172,670 SOL at an average price of $136.81, totaling $23.6 million, marking its largest purchase since shifting to the crypto sector last month. The Florida-based company currently holds 595,988 SOL, valued at nearly $105 million at current prices.