StockNews.AI
STSS
StockNews.AI
3 hrs

Sharps Technology and Jupiter Exchange Announce Staking Partnership to Accelerate Solana Adoption

1. STSS partners with Jupiter Exchange to leverage staking infrastructure. 2. STSS aims to stake SOL, enhancing its digital asset strategy. 3. The partnership supports Solana's eco-system and STSS’s liquidity. 4. STSS acquired over 2 million SOL, valued at over $400 million. 5. Jupiter is a leading DeFi platform with over $2 trillion in trading volume.

8m saved
Insight
Article

FAQ

Why Bullish?

The partnership positions STSS to benefit from potential high staking yields and increased asset valuation, similar to other digital asset firms that have capitalized on DeFi integrations and liquidity enhancements, leading to price appreciation.

How important is it?

The strategic partnership and SOL acquisition highlight significant progress in STSS's treasury strategy, enhancing potential returns and market position, which could lead to positive investor sentiments.

Why Long Term?

Long-term benefits expected as STSS bolsters its position within the Solana ecosystem, potentially leading to sustained interest and growth in asset value over time.

Related Companies

SOLBTCETHJUP
, /PRNewswire/ -- Sharps Technology, Inc. ("STSS" or the "Company") (NASDAQ: STSS), a medical device company with a Solana digital asset treasury strategy, and Jupiter Exchange ("Jupiter"), one of Solana's leading decentralized finance (DeFi) superapps, today announced a strategic partnership to utilize Jupiter's staking infrastructure as part of STSS's treasury strategy. Jupiter is one of the largest decentralized trading platforms, with over $2 trillion in lifetime trading volume. As part of this collaboration, STSS intends to directly stake a portion of its SOL into Jupiter's validator through native staking, marking a significant step in Solana's growth story, as Jupiter's Solana validator is one of the top three largest validators on Solana by staked tokens. STSS and Jupiter also intend to stake a portion of STSS assets to JupSOL, Jupiter's liquid staking token (LST) platform. This partnership emphasizes STSS's dedication to support the validation and economic security of the Solana network in alignment with major 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. By injecting capital into Jupiter's validator and JupSOL, respectively, STSS intends to earn staking yields, while also expanding liquidity in the Jupiter and Solana ecosystems. "Jupiter is Solana's leading DeFi superapp. It provides a full suite of trading products (spot, perps, and mobile) and DeFi tools (token creation, yield generation, and portfolio review) to give both new and pro users a comprehensive experience. It has the most integrated set of APIs on Solana, making it both the leading DeFi product and the leading DeFi platform," said James Zhang, Strategic Advisor to STSS. "This partnership underscores our commitment to supporting the most ambitious builders in the Solana universe. By aligning with Jupiter, STSS will look to create new opportunities to enhance shareholder value, while simultaneously strengthening Solana's connection with public markets." "We are excited to partner with STSS because of their management team's history of alignment with the Solana ecosystem, their ability to run Solana-native DeFi strategies, and the depth of the network the founders have within the Solana ecosystem," said Siong, co-founder of Jupiter. "We look forward to growing the Solana pie together with STSS, and believe STSS is well-positioned to increase awareness and excitement about the Jupiter product suite." Forward Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this release other than statements of historical fact are forward-looking statements, including statements regarding the Company's execution of its Solana digital asset treasury strategy, the anticipated benefits of its partnership with Jupiter Exchange, and the potential opportunities such initiatives may create for retail and institutional audiences. Forward-looking statements are based on current expectations, assumptions, and beliefs, and involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others: the Company's ability to successfully execute its Solana treasury strategy; volatility in the market price of SOL and other digital assets; changes in the regulatory or legal environment; competitive pressures; and general market, economic, and business conditions. Additional risks are described in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov. Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise these statements, whether as a result of new information, future developments, or otherwise, except as required by law. About Sharps Technology Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class, smart-safety syringe products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities that incorporate syringe technologies that use both passive and active safety features. The Company has adopted a digital asset treasury strategy focused on accumulating SOL, the native digital asset of the Solana blockchain, leveraging capital markets raises to power on-chain yield generation with the Solana Ecosystem. About Jupiter Exchange Jupiter Exchange is one of the largest decentralized trading platforms, with over $2 trillion in lifetime trading volume. Originally launched as Solana's premier DEX aggregator, Jupiter has since expanded into perpetual trading, a native mobile app, liquidity infrastructure, and now lending. Contact Prosek Partners for Sharps Technology [email protected] Jupiter Exchange [email protected] SOURCE Sharps Technology Inc WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News