Sol Strategies
HODL.NESolana-focused validator and staking service provider
Market Performance
Tokenized Assets
| Ticker | Exchange | Price | 24H | Spread | Liquidity ±2% | 24H Volume | OI | Funding | Max Leverage | Fees |
|---|
Revenue & Burn
Protocol income
$3.8KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $3.8K | -- | -- | -- |
| Sep 2026 | $16.88K | -- | -- | -- |
| Aug 2026 | $10.97K | -- | -- | -- |
| Jul 2026 | $13.44K | -- | -- | -- |
| Jun 2026 | $14.89K | -- | -- | -- |
| May 2026 | $27.04K | -- | -- | -- |
Comparison
Fundraising
Investment
Follow Updates
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People
About Sol Strategies
Sol Strategies is a publicly listed company on the Canadian Securities Exchange (CSE: HODL) that operates within the Solana blockchain ecosystem. Its core business involves running validator nodes that secure the network and earn staking rewards in SOL tokens. The company also provides staking infrastructure services for third-party token holders, taking a commission on rewards generated.
In June 2026, Sol Strategies acquired HoudiniSwap, a privacy-focused cross-chain swap aggregator. HoudiniSwap routes transactions across over 100 blockchain networks while breaking the on-chain link between sender and receiver addresses. This acquisition added a fee-based revenue stream, generating $1.2 million in fees and $768,000 in EBITDA during its first month of operation. The company also integrated HoudiniSwap with Jumper, a multi-chain trading platform, expanding its user reach.
A key market pain point Sol Strategies addresses is the volatility of crypto-native revenue. Staking income is highly sensitive to SOL price fluctuations and network emission schedules. During the six months ending March 31, 2026, staking and validation income fell to $622,299 from $3.04 million year-over-year, primarily due to lower average SOL prices and reduced per-cycle rewards. The company also recognized a $12.1 million impairment on validator node intangible assets, citing declining delegated SOL, increased network competition, and uncertainty about long-term validator economics.
To manage liquidity without selling its SOL holdings, the company entered a cryptocurrency-backed credit facility with Kamino Finance, borrowing PYUSD stablecoins against its collateral. As of June 30, 2026, Sol Strategies held approximately 460,000 SOL (worth $48 million CAD) and had 3.4 million SOL delegated to its validators, serving over 33,000 independent wallets. The company also closed its non-Solana validators on Sui and Monad networks to focus exclusively on Solana infrastructure.
SOL Strategies (CSE: HODL) has evolved from a validator into a diversified Solana-focused investment firm. Key milestones include: selling 65,001 SOL to repay CAD 5.75M debt in June 2026, strengthening its balance sheet; acquiring cross-chain aggregator HoudiniSwap for $18M, adding revenue streams; launching STKESOL liquid staking token with 500,000 SOL initial stake; growing SOL treasury to 523,134 coins with ~925 monthly staking rewards; being selected by VanEck to provide staking services for its SOL spot ETF; increasing treasury holdings to 526,500 SOL; raising $25M via stock offering to expand SOL holdings; receiving Nasdaq listing approval on September 9 (ticker: STKE); and reaching 402,623 SOL by end of August. These events mark strategic pivots toward institutional-grade infrastructure, debt reduction, and ecosystem expansion, positioning the company as a key player in the Solana treasury and staking market.
Sol Strategies' latest quarter (ended June 30, 2026) reported revenue from HoudiniSwap's one-month swap aggregator fees of $1.2 million and staking/validation income of $622,299, totaling approximately $1.82 million. Houdini contributed $768,000 in EBITDA. However, net profit was not disclosed, and staking income fell sharply year-over-year due to lower SOL prices and reduced rewards. Overall, the acquisition adds a new growth driver, but the core business faces pressure.
Jon Matonis - Chief Economist. Founding Director of the Bitcoin Foundation, ex-VISA/VeriSign executive, advocate for digital currency.
Michael Hubbard (Laine) - Chief Strategy Officer. Founder of Laine validator, expert in Solana staking and infrastructure.
Max Kaplan - Chief Executive Officer. Former crypto fund manager, leads Sol Strategies' investment and operations.
Antanas Guoga (Tony G) - Chairman. Lithuanian entrepreneur, former poker pro, early crypto investor and board member.