Sol Strategies Inc., led by CEO Leah Wald and listed on the CSE as HODL and OTCQX as CYFRF, has secured a $500 million convertible note facility from ATW Partners. The Toronto-listed company, focused on the Solana blockchain ecosystem, will use the capital exclusively for purchasing SOL tokens and expanding its validator operations within the Solana network. The initial tranche of the facility amounts to $20 million, with the first draw expected to close around May 1, 2025. Interest on the convertible notes will be paid in SOL, calculated as up to 85% of the staking yield generated by the 3,351,617 SOL tokens staked with Sol Strategies' validators. This innovative and scalable structure is the first of its kind in the Solana ecosystem directly tied to staking yield. As of last month, Sol Strategies held 267,151 SOL tokens. The company is also exploring a potential listing on the Nasdaq exchange, aiming to broaden its investor base. This move follows similar plans by other digital asset firms. Additionally, DeFi Development Corp has followed Sol Strategies' approach in pursuing a Solana-focused crypto treasury and validator operator strategy.