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DeFi Development Corp. signed a letter of intent with Loopscale to deploy stablecoin and SOL for yield generation.
According to a report by Globenewswire on November 18, Deep Tide TechFlow news states that DeFi Development Corp. (NASDAQ: DFDV) has signed a letter of intent with Loopscale, planning to deploy part of its SOL and stablecoin reserves into the lending protocol ecosystem.
According to the protocol, DFDV will allocate funds to Loopscale's treasury and lending market to earn on-chain yields and participate in its points reward program. Loopscale is an order book-based lending protocol on the Solana blockchain, reportedly boasting over $100 million in deposits and facilitating over $2 billion in loan volume, covering more than 200 assets. The protocol supports various credit structures, including fixed-rate term loans and structured credit products.
DFDV indicates that the generated revenue will support its stock buyback strategy and additional Solana accumulation, aimed at supporting the growth of each share of SOL (SPS).