Defi Development Corp, a pioneering public company focused on Solana (SOL) collection, has announced an exciting partnership with the Dogwifhat (WIF) Community. This collaboration introduces a dedicated Dogwifhat Validator on the Solana blockchain, combining institutional-level infrastructure with one of the most active memecoin communities in Solana.
The partnership is designed to promote the validator jointly, with Defi Dev Corp handling technical operations, infrastructure, and performance management. Both parties will work together to obtain delegations for staking, including an application to the Solana Foundation’s delegation program. This move is part of Defi Dev Corp’s broader strategy to expand its “Sol Pro A share,” a metric that tracks how much SOL supports every share of DFDV.
Parker White, CIO and COO of Defi Dev Corp, emphasized that the collaboration brings together high-ranking infrastructure with one of the most active communities in crypto. The validator operates on a performance-based model, with rewards, income, block rewards, and MEV divided equally between Defi Dev Corp and the WIF community after covering expenses such as infrastructure and voting fees.
Defi Dev Corp has been focused on Solana since April 2024, after being acquired by former Kraken executives. The company has positioned itself as a Solana-first public company, drawing comparisons with Bitcoin’s approach. It currently holds around 609,000 SOL, worth approximately $107 million. The Dogwifhat (WIF) memecoin, at the center of the validator partnership, has seen significant price action, rising over 22% at the time of press with a price of $0.86 and over $711 million in trading volume.
Defi Dev Corp has also announced plans to tokenize its shares on Xstocks, a Solana-based platform developed by Backed. This move is part of the company’s broader plan to make traditional equity available and accessible to the Solana ecosystem. However, the company has faced regulatory challenges, including the withdrawal of a $1 billion submission due to inadmissibility for optimized S-3 registration. Despite these setbacks, Defi Dev Corp continues to build and expand its Solana-focused strategy.
The company’s efforts to integrate with the Solana ecosystem are underway, with plans to bring together equity, staking, and community rewards. With its focus on Solana and commitment to building a strong presence in the crypto space, Defi Dev Corp is poised for continued growth and development. As the company navigates regulatory challenges and expands its operations, it will be interesting to see how its Solana-focused strategy unfolds and what opportunities arise for investors and the broader crypto community.
