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DeFi Technologies Inc. (CBOE CA: DEFI) has launched SolFi Technologies, a new investment vehicle designed to provide institutional exposure to the Solana blockchain ecosystem through trading, validator operations and ecosystem investments.
The Toronto-based firm aims to mirror MicroStrategy's approach to Bitcoin, but for Solana tokens (SOL), using proprietary algorithms and financing strategies to acquire, hold and stake SOL tokens. The company's validator and Maximum Extractable Value (MEV) engine has already processed C$508 million (US$365 million) in staked Solana.
Recent market data shows Solana's significant growth in 2024, with daily transactions reaching 42.7 million compared to Ethereum's 1.1 million. The SOL token has seen a tenfold increase from US$20 in January to US$218 in November, with daily trading volumes exceeding US$4 billion.
Olivier Roussy Newton, CEO of DeFi Technologies, said: "We are excited for DeFi Technologies to be a shareholder of and partner with SolFi Technologies in this Solana-focused venture. The success of Microstrategy has elevated exposure to the #1 digital asset in Bitcoin, and we look forward to focusing SolFi's digital asset strategy towards Solana from the ground-up. Like Microstrategy, SolFi will generate cash flow from an operating company, and tap capital markets for creative financing structures that allows SolFi to quickly grow its treasury and accelerate its staking operations."
SolFi Technologies plans to generate yields higher than third-party staking providers through its proprietary trading strategies and validator node operations. These yields will be either reinvested or distributed to shareholders as dividends. The company is also evaluating strategic acquisitions to support its Solana treasury strategy with additional cash flows.
The platform's launch comes as major tech companies including PayPal, Stripe, Google, and Shopify have integrated with Solana's blockchain infrastructure, which can process over 65,000 transactions per second through its hybrid consensus mechanisms of Proof of History (PoH) and Proof of Stake (PoS).
