Gm! This week we're joined by Dan Kang to discuss DeFi Dev Corp & it's Solana playbook. We deep dive into the Solana treasury company strategy, why do treasury companies trade at a premium to NAV, the volatility flywheel, Dan's long term Solana thesis & more. Enjoy!

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Zenrock is a permissionless, decentralized custody network backed by 1RoundTable Partners, 10T, Maven11, and Spartan. Live on Jupiter, $ROCK is the native token for transactions within the Zenrock ecosystem and secures Zenrock’s decentralized custody network.

The first application launching on Zenrock is zenBTC – yield-bearing Bitcoin on Solana. zenBTC will be live in April 2025. Visit zenbtc.io to learn about earning yield with Bitcoin on Solana.

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(00:00) Introduction

(02:37) The Solana Treasury Company Playbook

(05:18) Why Do Crypto Treasury Companies Trade At A Premium To NAV?

(10:43) Zenrock Ad

(11:33) The Volatility Flywheel

(18:56) Increasing SOL Per Share

(25:07) Why Narrative Matters?

(29:04) Why DeFi Dev Corp Is Focused On Solana

(38:26) Zenrock Ad

(39:16) The Long Term Solana Thesis

(42:32) Meme Coins

(48:39) Acquiring Solana Validators

(51:33) Why Are Treasury Companies Different Than ETFs?

(57:31) How Does This Strategy Scale?

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Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation.

Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Jack, and our guests may hold positions in the companies, funds, or projects discussed.

March Madness (with Rory Scovel, Natasha Leggero and Sabrina Jalees)