Forward Industries partners with Sanctum to launch fwdSOL liquid staking token

[Hand showing a cryptocurrency Solana SOL]
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* Forward Industries (FWDI [https://seekingalpha.com/symbol/FWDI]) on Tuesday announced [https://seekingalpha.com/pr/20326374-forward-industries-partners-with-sanctum-to-launch-fwdsol-liquid-staking-token]a strategic partnership with Sanctum to launch fwdSOL, a new liquid staking token that enables the company to generate staking yield on SOL.
* Through the partnership, SOL delegated by Forward Industries (FWDI [https://seekingalpha.com/symbol/FWDI]) 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, the company said.
* "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."
* In a separate release [https://seekingalpha.com/pr/20326439-forward-industries-provides-shareholder-update-following-the-launch-of-its-solana-treasury], Forward Industries (FWDI [https://seekingalpha.com/symbol/FWDI]) said as of December 1, the company's liquid SOL holdings totaled 6,921,342 SOL . Since inception, 6,834,505.96 SOL have been purchased at a net cost of $232.08 per SOL, representing a total cost of approximately $1.59 billion.

MORE ON FORWARD INDUSTRIES

* Forward Industries: Assessing The Biggest Solana Digital Asset Treasury [https://seekingalpha.com/article/4823587-forward-industries-assessing-the-biggest-solana-digital-asset-treasury]
* Forward Industries affirms confidence in Solana, extends deadline for resale registration [https://seekingalpha.com/news/4503636-forward-industries-affirms-confidence-in-solana-extends-deadline-for-resale-registration]
* Forward Industries secures $1.65B to launch Solana treasury strategy [https://seekingalpha.com/news/4492953-forward-industries-secures-165b-to-launch-solana-treasury-strategy]
* Seeking Alpha’s Quant Rating on Forward Industries [https://seekingalpha.com/symbol/FWDI/ratings/quant-ratings]
* Financial information for Forward Industries [https://seekingalpha.com/symbol/FWDI/income-statement]