Solana, "Call the One King" online, multi-year Ally, Multicoin on DAT

By Nancy, PANews

There is Michael Saylor in Bitcoin and Tom Lee in the Ether, the two most vocal speakers in the narratives of the encrypted bank in the current cycle, who are also considered by the community as the BTC and ETH & ldquo, respectively; and the Master of Marketing &rdquao; However, there has been a lack of a preacher in Solana Treasury who can shake the flag。

With Wall Street looking at Solana, a group of DAT (encrypted treasury company) contestants are on the move, and the new co-founder of Multicoin Capital, Chairman of SOL Treasury, Forward, Kyle Samani, may become &ldquo of Solana DAT; the spokesperson &rdquo

Slow down encryption investments, multi-year & ldquo; Ally & rdquo; Multicoin Reserve DAT

In the recent past, SOL's market has been booming, currency prices are approaching record highs, and the world's largest Solana bank is forming。

Recently, the Global Design Corporation, Forward Industries, announced $1.65 billion in private fundraising to launch Solana's financial strategy. Behind this capital build-up, the station focuses on Galaxy Digital, Junmp Cripto and Multicoin Capital, the major investors who have committed more than $100 million, as well as the participation of many investment companies and angel investors。

As the core of Solana, and as DAT became an important narrative of the new cycle, Samani not only participated through Multicoin in the joint vote for Forward Industries, but also invested an additional $25 million in his personal capacity and served as Chairman. In the context of external questions about the sustainability of the encrypted bank, he expressed confidence in the solana bank with real money and silver。

Multicoin is an early supporter of Solana. According to publicly available information, from 2018 to 2021, Multicoin was involved in three successive rounds of Solana financing, including the May 2018 seed wheel, the July 2019 round A and the 2021 funding of $314 million. Of these, in May 2018, Solana Labs sold 7.92 million coins at a price of 0.04 per dollar, and Multicoin was one of the main buyers, which yielded more than 5,000 times the return。

As the Solana market grew from zero to hundreds of billions of dollars, Multicoin not only made a number of public statements about Solana ' s investment, but also became deeply involved in the ecological construction of Solana, investing in dozens of important Solana projects, including O.net, Pyth, Jito, Render, StepN. Multicoin also & ldquo; full milk & rdquo; every investment is followed by an article on why the project was invested in the narrative upgrading and packaging of the project。

It is worth noting that the recent investment profile shows that Multicoin has significantly reduced the frequency of investment. In the first half of this year, only six investment projects were opened in Multicoin, far below the level of investment in last year ' s cycle. Since June this year, Multicoin has yet to announce new investment movements。

Under the calm waters, Multicoin is preparing a new layout for DAT。

Multicoin, who has grown deep in the Solana ecology for many years, undoubtedly has a natural advantage, and he claims to be able to explore additional strategies for Forward Industries. Forward Industries will be in a unique position to obtain discounts and locking in the Solana ecology through a network of investors, which has been in place since 2018. In addition to traditional chain activities, such as pledge and DeFi involvement, Forward Industries may arbitrate with the difference in the cost of funds between traditional financial institutions and DeFi platforms. The strategy can be implemented in a variety of ways and with flexibility from different trading counterparts。

In addition, thanks to investors ' qualifications, the size of the company ' s treasury and its close relationship with the Solana ecology, Forward Industries can negotiate with the main Solana agreements and applications to increase liquidity. Multicoin further indicated that it would add &ldquao; each SOL&rdquao unit; and, as a core objective, adopt tailor-made strategies and active administering Power Treasury assets。

WORD IS THAT SOL IS THE BEST ASSET IN DAT

From capital bets to industry debates to DAT strategic configurations, Samani's presence throughout the Solana narrative was seen as the most determined and important driver。

Prior to the creation of Multicoin, Samani had founded the Health Information Technology Initiative Pristine, which focused on providing smart eyeglass solutions for front-line workers. The company not only received more than $5 million in venture capital but was also successfully acquired by Upskill in 2017。

After entering the encryption field, Samani joined forces to establish Multicoin, a research-driven investment agency, which received considerable attention for the preparation and publication of high-frequency investment studies. The investment logic has also proved to be quite effective, and according to official disclosure last year, Multicoin has offered an up to 9281 per cent return to early investors since the Fund was established in 2017. Such performance has given Samani high reference value in the industry, and even competitors have had to admit that Dragonfly’s partner Hasseb Qureshi had spoken out, &ldquao; I do not like Samani, but he is undoubtedly the top investor and a non-consensual thinker in the industry. ”

Samani's initial wealth came from the Ether House. In 2016, he entered the encryption field because of his vision of smart contracts and unlicensed finance and reaped his first true wealth in the early ETH boom. However, with the lack of clear progress in the expansion of the Ethera, his self-styled confidence gradually faded。

And he saw another possibility in Solana. He has repeatedly stated publicly that &ldquao; Solana will go beyond Ethera and become a leading public chain in support of Internet capital markets. In his view, as more users, capital and applications migrate to Solana, this ecology will breed the next round of winners。

To a certain extent, Multicoin and Solana are considered & ldquo; life and death & rdquo。

At one point, the depth of the binding also hit Multicoin with Waterloo. In 2022, Solana ' s largest supporter, FTX, went bankrupt, causing Multicoin ' s assets to fall by 55 per cent in two weeks, with losses of up to 91.4 per cent in the year, the worst since its inception. But even so, Multicoin remains a strong supporter of Solana, and remains engaged in ecological construction as an important force for the rebirth of Solana。

In the latest article, Samani stated that SOL was the best asset of DAT for reasons of “ real gain ” He stated that SOL could generate real gains through pledge. SOL proceeds are derived from organic economic activities and MEV (maximum recoverable value). As of September 2025, the average yield of SOL pledgeers was 8.05 per cent, of which about 6.19 per cent was derived from inflation and about 1.86 per cent from organic economic activity and MEV, which was paid every 2.5 days. In contrast, ETH received about 3.21 per cent in nominal terms during the same period, of which 2.81 per cent came from inflation and only 0.41 per cent from real gains. As a basis for a permanent capital instrument, this makes SOL an attractive asset for DAT。

At the same time, he noted that BTC was completely unable to operate in the DAT scenario due to lack of pledge and real gain. This difference makes SOL the natural choice for building DAT. Forward Industries could use the real proceeds of SOL to fulfil their obligations, which BTC DAT could not do at all。

However, the lack of a Wall Street context in Samani, perhaps a role in the Solana DAT narrative, cannot be directly compared to Michael Saylor or Tom Lee, who has a Wall Street appeal, and more closely to Joseph Lubin, Sharplink Gaming, who was an early strong supporter, capital promoter, and whistle-blower。