Sharps Technology (STSS), a Nasdaq-listed company, has initiated a groundbreaking digital asset strategy by deploying over $400 million worth of Solana (SOL) into liquid staking through BONK's ecosystem. The company acquired more than two million SOL through a PIPE deal led by Cantor Fitzgerald, with SOL trading above $220 at the time of acquisition.
The strategic move involves staking a significant portion of this SOL into BonkSOL, a liquid staking token built by BONK that allows users to maintain exposure to SOL while participating in network staking. This approach enables STSS to generate staking rewards without permanently locking up liquidity, providing both yield opportunities and asset flexibility simultaneously.
BonkSOL currently has nearly 200,000 SOL in liquid staking, but the new allocation from STSS will dramatically increase this figure, potentially making it one of the largest liquid staking positions in the Solana ecosystem. This partnership validates BONK's transformation from a meme token to a key infrastructure player in Solana's DeFi landscape, with products including BONKBot (a trading tool with over $14 billion in volume) and Bonk.fun (which generated $28 million in quarterly revenue).
The collaboration represents a significant milestone for institutional adoption of decentralized finance, demonstrating how public companies can integrate DeFi into compliant financial frameworks while maintaining liquidity and supporting network decentralization.