Sharps Technology Inc. (NASDAQ: STSS), a medical device company that holds a significant Solana-based digital asset treasury, said Tuesday it has entered a partnership with BONK, a community-driven platform within the Solana ecosystem. The agreement involves deploying part of the company’s Solana (SOL) holdings into BonkSOL, BONK’s liquid staking token.
Sharps said the move is designed to generate staking yields and strengthen ties with key players in the Solana network. The company recently added more than 2 million SOL, valued at over $400 million at current market prices, to its treasury following a private investment in public equity transaction led by Cantor Fitzgerald & Co.
Sharps Technology to Deploy Treasury Through BonkSOL
As part of the initiative, Sharps will stake an undisclosed portion of its SOL holdings in BonkSOL. Liquid staking tokens allow holders to earn staking rewards while retaining liquidity for use across decentralised finance applications.
The decision comes as Sharps continues to position its treasury within the Solana ecosystem. James Zhang, strategic advisor to the company, said the partnership aligns with its effort to participate in the network’s growth while seeking returns for shareholders.
BONK, launched as a community project on Solana, has developed a range of products and integrations aimed at boosting activity on the blockchain. Its liquid staking product, BonkSOL, has attracted nearly 200,000 SOL since launch, according to the platform.
BONK’s Role in the Solana Ecosystem
BONK has more than 400 integrations across decentralised applications and protocols. Its products include BONKBot, a trading tool that has processed over $14 billion in lifetime trading volume, and Bonk.fun, which has generated $28 million in revenue this quarter. Nom, a core contributor at BONK, said Sharps’ engagement with BonkSOL represents a step toward expanding the platform’s reach in institutional markets.
Sharps’ collaboration with BONK comes amid rising adoption of Solana-based financial products and increasing institutional interest in blockchain-native staking solutions. By committing treasury assets to BonkSOL, the company becomes one of the larger corporate participants in Solana’s liquid staking market.
