Launch of STKESOL Liquid Staking Token (LST)
Launched STKESOL in January, a liquid staking token that allows stakers to maintain liquidity while earning staking rewards; protocol delegates across many validators using an algorithmic 'stake with score' approach and charges a 5% fee on pool rewards as a new recurring revenue stream.
Strong Early Adoption of LST
STKESOL reached meaningful early traction with between ~661,000 and 675,000 SOL in TVL/staked within weeks of launch and is integrated into major Solana DeFi protocols, indicating rapid product-market fit for the new product line.
Partnership Win: VanEck Spot SOL ETF
Selected by VanEck as the SOL staking provider for their U.S. spot Solana ETF, providing institutional validation of SOL Strategies' compliance, reporting and technical operations.
User Base Expansion — Unique Wallet Growth
Unique Wallets served grew to over 31,000, up 63% from 19,000 at the end of September, representing ~5.5% of all staking users on Solana and ~46x the average validator's unique wallet count.
Assets Under Delegation Increased
Assets Under Delegation rose to over 3.3 million SOL from 2.8 million SOL three months prior, an increase of approximately 18%, demonstrating growth in delegated assets ahead of and during the LST launch.
Staking Income and SOL Rewards Growth
Total staking and validation income reached CAD 2.1 million, up 69% year-over-year (CAD basis); on a SOL basis, rewards were up 120% year-over-year, driven by higher token holdings and staking activity.
Operational Performance and Network Reliability
Validator network maintained 99.999% uptime and consistently delivered yields above the network average; the LST delegates across 75 validators to reduce single-validator downtime risk.
Balance Sheet Actions and Capital Raise
Completed a bought deal/life offering raising CAD 30 million gross (CAD 27.9M net), increased shares from 23M to 28.6M, and restructured/retired an unsecured CAD facility post-quarter (issued 2.3M shares plus CAD 4.9M cash), improving capital flexibility.