Sol Strategies Reaches Milestone of Over $1 Billion in Delegated Solana
Sol Strategies, formerly known as Cypherpunk Holdings, has achieved a significant milestone in its validator operations, with over $1 billion in Solana delegated to its network. This announcement comes as the company prepares for its upcoming Nasdaq listing, solidifying its position as a leading public player in the Solana ecosystem.
The company reported that a total of 3,617,211 Solana (SOL) are now being delegated to its validators, including both internal delegations from the Solana Treasury and third-party providers. Sol Strategies currently holds a treasury of 399,907 SOL, worth approximately $110 million CAD, which accounts for around 11% of the total participation.
Over 7,000 Wallets Stake with Sol Strategies Amid Record Delegations
The remaining proportion consists of delegations from third-party providers across the Solana ecosystem. In total, there are over 7,000 unique wallets staking with Sol Strategies’ validators, an all-time high for the company. According to Leah Wald, Chief Executive Officer of Sol Strategies, “The crossing of $1 billion in delegated Sol reflects the continued growth of our validator operations. The combination of our own delegations with our own treasury and third-party providers underlines the scale we have reached and the increasing participation in the Solana ecosystem.”
The milestone is underpinned by Sol Strategies’ ability to maintain its own extensive Solana treasury while conducting income-generating validator operations. The validators are SOC 2 Type 1, SOC 1 Type 1, and ISO 27001-compliant, providing a compliance and security framework that attracts both retail and institutional delegators.
Sol Strategies’ Unique Approach
In conversation with Cryptoneews, Leah Wald explained that the company’s approach distinguishes it from other institutions that are racing to build large Solana treasuries. “Crossing $1 billion in delegated Sol underlines the deep trust that we have earned in both institutional and retail communities,” said Wald. She emphasized that by generating yield through validator commissions, the company “not only generates yield but also builds a sustainable revenue engine.”
Sol Strategies’ validator-oriented model is smaller compared to other institutional owners, such as Upexi and Defi Dev, but offers an operational layer of income that is missing from treasury-focused approaches. According to Coingecko, the five largest institutional owners, including Upexi, Defi Dev, Sol Strategies, Torrent Capital, and Exodus Movement, now control over 3.7 million SOL (approximately $726 million), with Upexi and Defi Dev accounting for more than 87% of this total.
Source: Cryptonews
