In This Article
- SOL Strategies Aiming To Become A Leading Institutional Staking Platform With $500m SOL Investment
- Its Current SOL Holdings Doesn't Even Make Sol Strategies A Top 100 Holder But A $500m Buying Spree Would Take Them Into The Top 5
- Bonus: Solaxy (SOLX) Is Aiming To Take Solana To The Next Level As Its First Ever Layer-2 Solution
- How To Join The Solaxy Presale:
An investment firm from Canada has secured a $500 million convertible note to buy Solana (SOL). SOL Strategies announced yesterday (April 23), highlighting the growing interest in SOL after cementing itself as the go-to blockchain for meme coins due to its speed and low transaction costs.
SOL Strategies trades on the Canadian Securities Exchange under the ticker HODL and described the agreement with New York investment firm ATW Partners as the “largest” and “first of its kind” for the Solana ecosystem.
BREAKING: SOL Strategies secures landmark USD $500M convertible note facility with ATW Partners to expand SOL holdings.
This first-of-its-kind structure is exclusively for SOL purchases and staking on our validators, with interest paid in SOL.
This represents the largest… pic.twitter.com/p9SB4dRm6o
— SOL Strategies (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) April 23, 2025
SOL Strategies Aiming To Become A Leading Institutional Staking Platform With $500m SOL Investment
Taking on debt to buy crypto is not a new playbook in the crypto space. It was spearheaded by Michael Saylor and his US software firm, Strategy (formerly MicroStrategy), which turned Bitcoin treasury.
For many years, Saylor has been using debt to buy Bitcoin to give shareholders exposure to the asset. In that time, Strategy has become the largest single holder of BTC, with 528,128 worth $48.8 billion.
SOL Strategies is attempting to copy from the Strategy playbook, but with SOL rather than BTC. “This is the largest financing facility of its kind in the Solana ecosystem and the first ever directly tied to staking yield,” SOL Strategies CEO Leah Wald said in a company statement.
Wald said that the company is buying Solana to become a leading institutional staking platform. She said;
“By securing up to half a billion dollars in strategic capital, we are doubling down on our conviction in Solana and our commitment to being the leading institutional staking platform. Every dollar deployed is immediately yield-generating, and accretive to both our balance sheet and our validator business. This structure is not only innovative-it is highly scalable.”
Per the press release, SOL Strategies will issue Notes in the aggregate principal amount of USD $20 million as its first tranche (the “Initial Closing”). Subsequent drawdowns, subject to certain conditions, will make additional capacity of up to USD $480 million available, bringing the total to $500 million.
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Its Current SOL Holdings Doesn’t Even Make Sol Strategies A Top 100 Holder But A $500m Buying Spree Would Take Them Into The Top 5
The Initial Closing is expected to occur on or about May 1, 2025, subject to customary closing conditions. In this novel structure, interest on the Notes will be paid in SOL, calculated as up to 85% of the staking yield generated by SOL acquired through the facility and staked by SOL Strategies.
The Solana-based investment firm said in March 2025 that it holds 267,151 SOL, today worth over $40.4 million. While there is no way to see a full list of SOL holders by amount held, the Solana top 100 ‘rich list’ on coincarp shows the address at number 100 holds 427,746 SOL.
SOL Strategies is currently out of the top 100 SOL holders, with its 267,151 stash. However, if the firm uses its $500 million convertible note to buy SOL at current prices, it would secure roughly 3.3 million SOL, taking its holdings to around 3.56 million.
In that hypothetical situation, SOL Strategies would instantly become the fifth-largest holder of Solana, just behind the wallet address ‘GitYucwpNcg6Dx1Y15UQ9TQn8LZMX1uuqQNn8rXxEWNC’, which currently holds 3.62m SOL.
Solana, its native coin and the wider ecosystem has gained momentum with investors and developers in recent years due to its speed and ease of use for newcomers.
While ETH is still the number two digital asset by market cap, with SOL at number six, Solana, as a blockchain, has Ethereum beat in most areas.
Per DefiLlama data, Solana now beats Ethereum in all major metrics. 24h DEX volume, active addresses, 24h app revenue and 24h chain fees all go to Solana. The only area where Ethereum is still king is the number of protocols, with 1329 to Solana’s 215.
Bonus: Solaxy (SOLX) Is Aiming To Take Solana To The Next Level As Its First Ever Layer-2 Solution
As the first Layer-2 chain on Solana, Solaxy (SOLX) has been designed to tackle the scaling challenges faced by the mainnet. As eager investors have spotted a blue-chip investment opportunity, Solaxy has raised over $31.3 million in presale funding.
What makes Solaxy so enticing is its first-mover advantage. Multiple big players are vying for the same market share, with Ethereum’s Layer-2 sector now exceeding $14 billion. From Base to Arbitrum and Optimism, they are all competing within the same space.
Solana doesn’t have a single Layer-2 solution of note, which is why the hype is behind SOLX. With Solana currently beating Ethereum as a network in every notable metric, bar one, there is a need for a L2 to support the mainnet.
If Solaxy can capture even 10% of the Ethereum L2 market valuation, it would be a $1.4 billion market cap token. Considering SOL’s market cap is $76 billion, a speculative valuation of between $1.4 billion and $7.6 billion (10% of the SOL valuation) seems realistic.
Whenever network activity surges on Solana, it is known to struggle. From slight slowdowns, failed transactions, to full-blown outages, it is the one black spot that has honestly stopped Solana from overtaking Ethereum.
With the introduction of Solaxy, it aims to fix that for good by implementing several key solutions. Processing transactions off-chain to reduce the strain on Solana’s network, utilizing rollups to bundle transactions for improved cost-efficiency, and maintaining Solana’s strong security framework.
These key additions to Solana could catalyze it to become the number two token and blockchain by the end of this coming bull run. And if Solaxy initiates the move, it isn’t hyperbole to say that SOLX will be a multi-billion-dollar token.
How To Join The Solaxy Presale:
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
To join the presale, visit the Solaxy website and connect your wallet, such as Best Wallet.
Best Wallet’s multi-chain support makes it easy to manage SOLX, which is currently available on Ethereum. Users can seamlessly stake their SOLX tokens directly from within the app.
You can download Best Wallet from Google Play or the Apple App Store.
Stay updated on Solaxy’s latest developments by joining its X and Telegram communities.
Visit the Solaxy Presale Site Here
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In This Article
- SOL Strategies Aiming To Become A Leading Institutional Staking Platform With $500m SOL Investment
- Its Current SOL Holdings Doesn't Even Make Sol Strategies A Top 100 Holder But A $500m Buying Spree Would Take Them Into The Top 5
- Bonus: Solaxy (SOLX) Is Aiming To Take Solana To The Next Level As Its First Ever Layer-2 Solution
- How To Join The Solaxy Presale:
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