DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RMJR) (OTC: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, announced today that it will deploy Solana nodes as a part of its DeFi Infrastructure & Governance business line.
DeFi Technologies will contribute to the mission of the decentralized finance ecosystem by running Solana nodes, acting as an independent validator for the network. By processing transactions and participating in consensus, the Company will be supporting the growth and performance of the Solana network. In connection with running nodes, DeFi Technologies can receive rewards from securing transactions on Solana as well as for providing governance services such as voting on code changes and other upgrades to the globally decentralized network. In addition, the Company plans to participate in staking, thereby earning staking rewards, through its wholly owned subsidiary, Valour Inc.
Solana is a public blockchain protocol designed to host decentralized applications. The network is considered to be one of the fastest growing ecosystems in the crypto space, with more than 400 projects spanning DeFi, NFTs, Web3 and more. Solana’s high performance and low fees continue to attract increasing developer and investor interest, with its native token SOL currently within the top ten cryptocurrencies in the world by market capitalization1, at USD $71.45 billion as of November 14.
"Running Solana nodes is a natural next step as we continue to deepen our engagement in the Solana ecosystem and play an active role in supporting the growth and governance of DeFi networks,"
said Diana Biggs, Chief Strategy Officer at DeFi Technologies.
DeFi Technologies recently announced it will bring its real-time cryptocurrency pricing data to the Solana-based Pyth network to improve DeFi market transparency. The Valour Solana ETP, listed on the NGM stock exchange in Sweden, continues to see unprecedented investor demand. It is Valour’s fastest growing product to date, accumulating more than $50M USD in assets under management (AUM) in less than two months.
The DeFi Infrastructure & Governance business line seeks to actively participate in decentralized blockchain networks by running nodes that contribute to network security and stability, governance, transaction validation and overall decentralization. In doing so, DeFi Infrastructure & Governance strengthens the Company’s overall commitment to growing the DeFi ecosystem by supporting innovative projects and the new financial infrastructure which powers them.
Information provided by FinancialNewsMedia.