Spirit Blockchain Partners With Astralane To Launch Staked SOL Index/ETP With Up To 11% APY
FULL DISCLOSURE: This is sponsored content for Spirit Blockchain.
Spirit Blockchain (CSE: SPIR) has entered into an expanded strategic partnership with Astralane, which will see the company expand its multi-chain strategy to the Solana ecosystem. A key aspect of the partnership is the merging of Solana’s decentralized finance yields with traditional finance markets, with a Staked SOL Index/ETP to be launched that will provide passive Solana exposure with up to 11% APY.
The Staked SOL Index will use Astralane’s validator DOGO, which currently manages millions in assets and provides up to 11% annual percentage yield. The goal here is said to be providing investors with secure and passive exposure to Solana, while maximizing returns via staking rewards.
Outside of the Staked SOL Index, the integration of Solana with Spirit’s current DogeCoin and EOS assets is said to create a diversified crypto treasury solution for corporates looking for blockchain exposure, while laying the foundations for a comprehensive tokenization platform that is expected to enable traditional assets to use blockchain efficiencies.
WATCH: Tokenized Assets: Is Digital Finance the Future? | Lewis Bateman – Spirit Blockchain
Astralane is a leading web3 infrastructure company based in Canada, which is housed under the Audace Labs umbrella. As part of the arrangement, Audace invested in Spirit under its most recent financing, validating Spirit’s approach to bridging web3 with institutional finance.
As part of the partnership arrangement, Jaskanwar Singh, a co-founder of Astralane, will also join the capital advisory board of Spirit. Singh is expected to bring his experience in infrastructure architecture within blockchain and industry expertise to Spirit as they work to expand their offerings. Singh will also assist in the marketing and branding of Spirit, the establishment of strategic partnerships, and the introduction of investors to seed ETFs and indexes.
Perhaps most importantly, Singh is expected to lead the digital asset currency institutional engagement strategy for Spirit, while leveraging his knowledge in the field of web3.
READ: Spirit Blockchain To Raise Funds To Purchase $DOGE, Launch Crypto Protocol
Future plans under the partnership as a whole will see the parties explore additional yield-bearing products on the blockchain ecosystem, including offerings for both DOGE and EOS.
“This partnership is a transformative step forward in our vision to become the leading digital asset provider for crypto asset exposure. With Jaskanwar’s leadership in validator infrastructure and multi-chain DeFi strategies, we are building a resilient framework for digital asset exposure, staking, and liquidity management. The staked SOL Index, alongside our established Dogecoin and EOS initiatives, forms a cornerstone of our comprehensive Treasury Management solution,” commented Lewis Bateman, CEO of Spirit Blockchain.
Spirit Blockchain last traded at $0.095 on the CSE.
FULL DISCLOSURE: Spirit Blockchain is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Spirit Blockchain. The author has been compensated to cover Spirit Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
