Sol Methods, a Canadian holding firm, stated it has secured CAD $25 million ( roughly $17 million) to put money into the Solana blockchain.
The corporate added that it has efficiently drawn down $4 million from the newly amended credit score line to help its SOL staking operations.
All About Sol Methods’ $17 Million Funding Plan
The credit score settlement gives Sol Methods with entry to an unsecured, revolving demand credit score facility price CAD $25 million, supplied by the corporate’s Chairman, Antanas Guoga.
“I’m making this capital out there to Sol Methods due to how deeply I consider in each the company methods and Solana itself,” stated Antanas Guoga.
The power, designed completely for buying Solana tokens, demonstrates Sol Methods’ long-term technique to boost its stake within the Solana blockchain. The agency additionally intends to grow to be one of many largest Solana stakers.
“After evaluating a number of financing choices for this strategic funding, we decided that the phrases provided by means of this facility supplied probably the most favorable construction for our shareholders. Our staking technique is tremendously profitable, and we’re assured that our expanded place in Solana will generate substantial returns,” Sol Methods CEO Leah Wald added.
Sol Methods plans to make use of the proceeds from the credit score facility to bolster the Solana ecosystem as properly. The areas of focus embrace supporting decentralized finance (DeFi) protocols, enhancing validator operations, and strategically offering liquidity to rising Solana-based initiatives.
The newly amended credit score facility additionally gives Sol Methods a versatile technique of funding. Till January 6, 2027, Sol Methods can draw funds on an as-needed foundation.
The mortgage carries an rate of interest of 5% each year, with accrued curiosity payable on the maturity date. Nonetheless, the lender, Antanas Guoga, retains the proper to demand early reimbursement.
Individually, the Toronoto-headquartered firm modified its identify from Cyberpunk Holdings to Sol Methods in September final yr. The agency stated that the rebrand mirrored its new funding technique centered round Solana.
Sol Methods seems to be following in the footsteps of firms like Marathon Digital, MicroStrategy, and others by strategically investing in a single cryptocurrency.
Solana was buying and selling at $197 at press time, down 9% over the previous 24 hours. Solana had damaged previous the $200 milestone earlier this month. Nonetheless, Solana’s open curiosity reached a document excessive of $6.68 billion on January 7, suggesting intense market curiosity.
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