In a strategic move to bolster its staking capabilities, Solana Company, which trades on Nasdaq under the ticker HSDT, has announced a partnership with Helius and Twinstake. This collaboration aims to enhance the company's staking infrastructure, allowing it to maximize returns on its SOL holdings, as reported by CoinMarketCap.
On October 23, the Solana Company revealed its plans to integrate services provided by Helius and Twinstake. This initiative is part of an upgrade to its staking stack, aiming to leverage non-custodial staking services. The company's strategy involves staking SOL directly through its custody arrangements at Anchorage Digital Bank. This move is expected to streamline their staking operations, providing a more efficient and secure method of managing their digital assets.
The partnership with Helius and Twinstake is designed to boost Solana Company's earnings by optimizing its staking processes. By utilizing the Anchorage Digital Bank for custody, the company ensures that its SOL assets are managed securely and effectively, reducing potential risks associated with staking activities. Joseph Chee, Executive Chairman of the Solana Company, highlighted the significance of this partnership in strengthening their treasury strategy.
This development is part of a broader trend where blockchain and cryptocurrency companies are increasingly seeking partnerships to enhance their operational capabilities. By collaborating with specialized service providers like Helius and Twinstake, Solana Company is positioning itself to take full advantage of its SOL holdings, potentially setting a precedent for other firms in the industry.
For more information, you can view the original announcement on CoinMarketCap.