DeFi Technologies launches SolFi to focus on Solana investments

DeFi Technologies has announced the launch of SolFi, a new entity described as the "Microstrategy for Solana."

According to the Nov. 12 statement, SolFi is dedicated to providing investors direct access to the Solana blockchain ecosystem through proprietary trading, validator node operations, and other ecosystem investments.

The move is part of DeFi Technologies’ strategy to capitalise on the growing interest in Solana (CRYPTO:SOL) and differentiate itself from other staking platforms by offering higher yields.

SolFi's operations will include using DeFi Technologies' validator and a proprietary Maximum Extractable Value (MEV) engine to secure consistent and competitive yields on staked SOL.

These returns may be reinvested or distributed as dividends to shareholders, as highlighted by the company.

"The success of MicroStrategy has elevated exposure to the #1 digital asset in Bitcoin (CRYPTO:BTC), and we look forward to focusing SolFi's digital asset strategy towards Solana from the ground up," stated Olivier Roussy Newton, CEO of DeFi Technologies

He added that SolFi aims to emulate Microstrategy’s model of generating cash flow and utilising capital markets to boost its treasury and accelerate staking operations.

Microstrategy, known for its significant investment in Bitcoin (CRYPTO:BTC), has seen its stock surge over 2000% since its shift in strategy in 2020.

The company plans to acquire $42 billion worth of Bitcoin over the next three years, reinforcing its BTC-focused growth strategy.

Investor sentiment around Solana remains positive.

MV Global, a Web3 investing firm, reported that 30% of investors predict Solana could reach over $600 before the current market cycle ends.

"Solana is a consensus long among almost every allocator we spoke to," noted Tom Dunleavy, managing partner at MV Global.

In addition to launching SolFi, DeFi Technologies completed an all-stock acquisition of trading desk Stillman Digital in July, which analysts say could position the company as a smaller version of Galaxy Digital.

At the time of reporting, the Solana price was $206.18.