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Sharps Technology ("Sharps Technology" or the "Company") (NASDAQ:STSS), a medical device company with a Solana digital asset treasury, and BONK, one of the premier community-driven platforms of the Solana ecosystem, today announced a strategic partnership to leverage BONK's liquid staking infrastructure as part of STSS's treasury strategy.
As part of this initiative, STSS intends to stake a portion of its SOL to BonkSOL, BONK's liquid staking token (LST) product. This signals STSS's continued commitment to support and align with key Solana ecosystem players. The Company recently acquired over two million SOL, currently valued at more than $400 million with SOL trading at over $220, funded through a private investment in public equity (PIPE) transaction led by Cantor Fitzgerald & Co. By deploying capital into BonkSOL, STSS seeks to earn staking yields, while also deepening liquidity in the BONK and Solana ecosystem.
"BONK has become one of the cultural engines of Solana and has consistently driven innovation across the ecosystem," said James Zhang, Strategic Advisor to STSS. "We are proud that STSS continues to support the most productive and dynamic teams and communities within the Solana ecosystem. Partnering with BONK provides us with new avenues to potentially generate increased returns for our shareholders, while amplifying our presence across Web3 and beyond."
"Our original vision with BONK was to create a cultural icon on Solana and build products with the Solana power-user in mind, while maximizing distribution and value back to the Solana community," said Nom, Core Contributor of BONK. "STSS has built one of the most exciting Solana treasuries in the market, and is closely aligned with the Solana ecosystem, making this partnership to gain continued exposure in institutional markets a no-brainer in our growth story."
With over 400 integrations across decentralized applications and protocols, BONK has created several Solana-native products on its platform, driving significant activity within the Solana ecosystem. BONK's suite includes BONKBot, with over $14 billion in lifetime trading volume, and Bonk.fun, which has generated $28 million in revenue this quarter. Since launch, BonkSOL has attracted nearly 200,000 SOL in staking.
Posted In: STSS
