DeFi Technologies to Launch Solana Nodes to participate in Network Governance and Staking

Rhea-AI Summary

DeFi Technologies Inc. (OTC: DEFTF) announced its plan to deploy Solana nodes, enhancing its DeFi Infrastructure & Governance operations. This move supports the Solana network by processing transactions and participating in governance, potentially earning rewards. Solana, a leading blockchain protocol, boasts a market cap of $71.45 billion as of November 14, 2021, and is known for its rapid growth and low fees. DeFi Technologies also recently saw significant demand for its Valour Solana ETP, accumulating over $50M in assets under management within two months.

TORONTO, Nov. 15, 2021 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (NEO: DEFI) (GR: RMJR) (OTC: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, announced today that it will deploy Solana nodes as a part of its DeFi Infrastructure & Governance business line.

DeFi Technologies will contribute to the mission of the decentralized finance ecosystem by running Solana nodes, acting as an independent validator for the network. By processing transactions and participating in consensus, the Company will be supporting the growth and performance of the Solana network. In connection with running nodes, DeFi Technologies can receive rewards from securing transactions on Solana as well as for providing governance services such as voting on code changes and other upgrades to the globally decentralized network. In addition, the Company plans to participate in staking, thereby earning staking rewards, through its wholly owned subsidiary, Valour Inc.

Solana is a public blockchain protocol designed to host decentralized applications. The network is considered to be one of the fastest growing ecosystems in the crypto space, with more than 400 projects spanning DeFi, NFTs, Web3 and more. Solana's high performance and low fees continue to attract increasing developer and investor interest, with its native token SOL currently within the top ten cryptocurrencies in the world by market capitalization¹, at USD $71.45 billion as of November 14.

"Running Solana nodes is a natural next step as we continue to deepen our engagement in the Solana ecosystem and play an active role in supporting the growth and governance of DeFi networks," said Diana Biggs, Chief Strategy Officer at DeFi Technologies.

DeFi Technologies recently announced it will bring its real-time cryptocurrency pricing data to the Solana-based Pyth network to improve DeFi market transparency. The Valour Solana ETP, listed on the NGM stock exchange in Sweden, continues to see unprecedented investor demand. It is Valour's fastest growing product to date, accumulating more than $50M USD in assets under management (AUM) in less than two months.

The DeFi Infrastructure & Governance business line seeks to actively participate in decentralized blockchain networks by running nodes that contribute to network security and stability, governance, transaction validation and overall decentralization. In doing so, DeFi Infrastructure & Governance strengthens the Company's overall commitment to growing the DeFi ecosystem by supporting innovative projects and the new financial infrastructure which powers them.

Learn more about DeFi Technologies and Valour at defi.tech and valour.com.

About DeFi Technologies
DeFi Technologies Inc. is a technology company bridging the gap between traditional capital markets and decentralized finance. Our mission is to expand investor access to industry-leading decentralized technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit https://defi.tech/.

About Valour
Valour Inc. issues exchange-listed financial products that enable retail and institutional investors to access investment in disruptive innovations, such as digital assets, in a simple and secure way. Established in 2019 and based in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc. (NEO:DEFI, GR: RMJ.F, OTC: DEFTF). For more information on Valour, visit www.valour.com.

Cautionary note regarding forward-looking information: 

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to DeFi Technologies' governance business line and implementation of nodes for Solana; the growth of AUM; expansion of DeFi Technologies and Valour into other geographic areas; the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to acceptance of Valour ETPs by Frankfurt, Euronext and other exchanges; investor demand for DeFi Technologies' and Valour's products; the growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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1	Coinmarketcap.com as at 14 November, 2021

 

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SOURCE DeFi Technologies, Inc.

FAQ

What is the significance of DeFi Technologies deploying Solana nodes?

DeFi Technologies will utilize Solana nodes to contribute to network governance, transaction processing, and earn rewards, enhancing its presence in the DeFi ecosystem.

When did DeFi Technologies announce its plan for Solana nodes?

The announcement was made on November 15, 2021.

What market cap does Solana have as of November 14, 2021?

Solana had a market cap of $71.45 billion as of November 14, 2021.

How much AUM has the Valour Solana ETP achieved?

The Valour Solana ETP has accumulated over $50 million in assets under management within less than two months.

What role is DeFi Technologies aiming to fulfill in the decentralized finance space?

DeFi Technologies aims to enhance network security and governance by running nodes and participating actively in the DeFi ecosystem.