The DCo Podcast Ep 43 — Why it's not NAV but Native Yield with Leah and Max from Sol Strategies
Jun 27, 2025
Leah Wald, CEO of Sol Strategies and former founder of Valkyrie Investments, teams up with Max Kaplan, CTO and ex-Kraken engineer, to reveal why they chose Solana over Bitcoin and Ethereum. They discuss the innovative concept of native yield and how their staking strategies generate returns. The duo also explores Solana's advantages, upcoming protocol improvements, and the exciting potential of tokenized stocks. Learn why institutional investors are taking notice and how they plan to diversify revenue streams beyond traditional validators!
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Native Yield Is A Game Changer
- Sol Strategies chose Solana because it enables native yield via staking and validator revenue, unlike Bitcoin.
- Native yield lets them acquire SOL cheaper and structure different financing than Bitcoin treasury companies.
From Cypherpunk To Solana Tech Company
- Leah describes transforming Cypherpunk Holdings into a Solana-focused public tech company running validators and holding SOL on its balance sheet.
- They structured debt where a portion of interest payments is paid from staking yield to buy more SOL and grow revenues.
Pitch Institutions With Education And Analogies
- Educate institutional allocators about Solana's fundamentals and how the company generates yield from validators.
- Target investors already comfortable with Bitcoin/mining narratives who want a leveraged, technology-driven Solana bet.