The post Bonk Meme and DeFi Development Corp Announces Strategic Partnership to Jointly Run a Solana (SOL) Validator appeared first on Coinpedia Fintech News
DeFi Development currently holds over 609k Solana with more than $107 million.
Following the announcement, DFDV stock rallied over 50% on Friday to trade at about $138.
DeFi Development Corp. (NASDAQ: DFDV), formerly known as Janover but shifted its focus solely on the Solana (SOL) network, announced a strategic partnership with the Bonk (BONK) memecoin project. According to the announcement, DeFi Development and Bonk memecoin will work together as a validator to operate a Solana node.
The two entities intend to share the rewards earned from running the Solana node. As a result, DeFi Development Corp will continue to accumulate more SOL coins. On the other end, BONK memecoin will earn more rewards in securing the Solana network and expand the use case for BONKSOL.
“This validator partnership is a natural next step in BONK’s mission to empower our community and accelerate the adoption of Solana,” Nom, Core Contributor at BONK, noted. “By teaming up with DeFi Dev Corp., we’re not only reinforcing the decentralized infrastructure of Solana but also creating a new standard for how community tokens can scale and sustain their ecosystems.”
Market Impact of Strategic Partnership Between Bonk and DeFi Corp
The strategic partnership between Bonk and DeFi Development Corp will play a crucial role in the long-term growth of the Solana network and the respective projects. As for the Solana network, more adoption by institutional investors will increase its overall liquidity and credibility amid the mainstream adoption of digital assets.
As for DeFi Development Corp, the shareholders will significantly benefit from the rewards of jointly running the Solana validator node. Furthermore, DeFi Development Corp has relentlessly accumulated more SOL coins to currently hold about 609,190 coins, worth about $107 million.
Following the announcement, DFDV stock rallied over 50 percent in the last 24 hours to trade at about $138.77 on Friday, May 16, during the mid-North American trading session.