As part of the relationship, the Company participated in a private placement transaction by Flora Growth Corp. (NASDAQ:FLGC), which expects to rebrand as ZeroStack, through an in-kind contribution of SOL in exchange for a convertible note, and also entered into an agreement to provide ZeroStack with services such as asset management, accounting/finance support, and technology services. In addition, the Company received an equity stake in ZeroStack. This relationship with ZeroStack underscores DeFi Development Corp.'s approach of combining strategic collaborations with active participation in the growth of emerging digital asset treasuries.
Through this collaboration, ZeroStack and the 0G network will be building a bridge to the Solana ecosystem to support development of decentralized AI applications across both chains. Additionally, ZeroStack will hold the SOL invested by DFDV on their balance sheet. The convertible note issued to the Company by ZeroStack is denominated in SOL and provides for interest payments to the Company at an 8.0% annual rate, payable on a quarterly basis in SOL.
"The DFDV Treasury Accelerator is designed to back the most innovative treasury structures in digital assets," said Joseph Onorati, Chief Executive Officer of DeFi Development Corp. "Our collaboration with ZeroStack shows how we can combine strategic capital, operational expertise, and aligned incentives to help shape the future of crypto treasury companies, while continuing to find innovative ways to grow Solana per share." X Spaces Event DeFi Development Corp. will host an X Spaces titled "DFDV Dealmaking: An Update on ...
