DeFi Technologies Inc, a technology company bridging the gap between traditional capital markets and decentralized finance, announced that it has deployed a Solana validator node that will act as an independent validator for the network. The launch of the node is part of the Company’s DeFi Infrastructure & Governance business line, which contributes to the mission of the decentralized finance ecosystem.
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By processing transactions and participating in consensus, DeFi Technologies will be supporting the growth and performance of the Solana network. In connection with running the node, 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 is participating 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 $64.83 billion as of November 30.
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“Launching our Solana validator node is an exciting next step in our engagement in the Solana ecosystem. We will be able to both support the security of the network and grow our SOL holdings through staking activity,” 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 $59M USD in assets under management (AUM) in less than three 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. The Company is committed to growing the DeFi ecosystem by supporting innovative projects and the new financial infrastructure which powers them.
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