Mentioned:
One of the largest meme coins in crypto has struck a new deal with a publicly traded company on the Nasdaq. But, why?
What’s happening:
- DeFi Development Corp (NASDAQ: DFDV) has formed a new partnership with Solana’s most popular meme coin BONK
Why it matters:
- This is the first time ever that BONK has done a deal with a publicly traded company in North America
Going deeper:
- The new partnership between BONK and DeFi Development Corp will be focused around managing and operating a validator on the Solana network
- Both DeFi Development Corp and BONK will contribute to the validator’s stake and they will jointly share in the returns that are generated
- DeFi Development Corp has been quickly going after the opportunity in staking, including just recently acquiring an operating Solana validator for $3.5M USD in stock and cash
The intrigue:
- BONK has nearly one million individual token holders and is the most highly used token on the entire Solana network, outside of Solana itself
