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DeFi Development became the first publicly listed company to hold LST on Solana.
Gate News bot reported that DeFi Development Corp., a cryptocurrency fund management company focused on Solana, stated in a release on Wednesday that it has adopted liquid staking token (LST) technology to enhance its fund management and validators operations.
The DeFi Development plan will allocate part of its SOL holdings to dfdvSOL, which is an LST built on the staking infrastructure developed by the liquid staking provider Sanctum.
The company stated: "This milestone makes DeFi Dev Corp. the first publicly traded company to have LST on Solana."
Chief Investment Officer and Chief Operating Officer Parker White pointed out that adopting dfdvSOL "created more avenues to attract the stakes held by validators and increased SOL holdings."
DeFi Development Corp. was formerly a real estate software company named Janover, which was renamed and shifted its business focus to Solana after being acquired by a team of industry executives who took a majority stake in Solana in April. As of May 15, the company holds a total of 609,190 SOL.
Source: The Block