Forward Industries Partners with Sanctum to Launch fwdSOL Liquid Staking Token
Forward Industries, Inc. (FWDI)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Forward Industries, Inc. (NASDAQ: FWDI) (“Forward Industries” or the "Company"), today announced a strategic partnership with Sanctum to launch fwdSOL, a new liquid staking token (LST) that enables the Company to generate staking yield on SOL while unlocking additional sources of return through DeFi and institutional borrowing strategies.Through the partnership, SOL delegated by Forward Industries to Sanctum will be represented by approximately 1,725,100 fwdSOL, corresponding to 25% of the Company’s SOL holdings. By converting staked SOL into fwdSOL, Forward Industries can continue earning native staking yield while deploying the LST across a range of on-chain opportunities to enhance performance. These include using fwdSOL as collateral to borrow assets, which can then be allocated into vetted DeFi protocols or revenue-generating strategies with the Company’s institutional partners.As a part of the partnership, Forward has the opportunity to add CLOUD t
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- Forward Industries partners with Sanctum to launch fwdSOL liquid staking token [Seeking Alpha]Seeking Alpha
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- Forward Industries Appoints Ryan Navi as Chief Investment OfficerBusiness Wire
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