Mooncake, a permissionless on‑chain leveraged token platform, has chosen DeFi Development Corp.’s dfdvSOL liquid‑staking token as the core collateral for its upgraded 10xSOL leveraged market. The change replaces the traditional SOL token with dfdvSOL, allowing users to maintain 10‑times Solana exposure while earning staking yield, validator revenue, and institutional‑grade treasury backing.
Mooncake’s dual‑vault leveraged token system splits the value of an underlying asset into a leveraged position and a funding position, enabling leveraged exposure without liquidations and allowing capital providers to earn yield. By using dfdvSOL, the platform can offer higher yield and greater stability because the token already accrues staking rewards and is backed by a robust validator network. The upgrade also improves scalability, as dfdvSOL’s liquid nature reduces the need for on‑chain withdrawals and re‑staking, lowering transaction costs and latency.
For DeFi Development Corp., the partnership expands the utility of dfdvSOL and reinforces its treasury strategy. In its 2025 Year in Review, DFDV highlighted that it had raised $378 million, accumulated over 2 million SOL, launched a validator business, and introduced dfdvSOL and tokenized equity (DFDVx). The new role of dfdvSOL as collateral for a leveraged market is expected to increase demand for the token, boost staking rewards for DFDV’s validator operations, and accelerate the company’s goal of maximizing SOL Per Share (SPS) growth.
The move also positions DFDV as a key liquidity provider in the Solana ecosystem. By tying dfdvSOL to a high‑profile leveraged product, the token gains visibility among institutional and retail traders, potentially driving higher trading volumes and liquidity. The partnership aligns with DFDV’s broader strategy of deploying its treasury into yield‑generating assets and expanding its DeFi footprint.
Mooncake benefits by attracting users who seek leveraged exposure with built‑in yield, potentially increasing capital inflows into its platform. The partnership also signals to the market that Mooncake is committed to enhancing the stability and scalability of its leveraged products, which could improve user confidence and retention.
Overall, the collaboration expands DFDV’s product ecosystem, strengthens its position in the Solana DeFi space, and provides Mooncake with a more robust collateral base for its leveraged token offering, setting the stage for continued growth in both companies’ user bases and revenue streams.
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