01:53 PM EDT, 03/27/2024 (MT Newswires) -- Neptune Digital Assets Corp. ( NPPTF ) said Wednesday that it has bought 26,964 Solana tokens, a proof-of-stake blockchain protocol.

The company said it has negotiated a strategic purchase of 26,964 Solana at US$64 per SOL token, reflecting a 67% discount to the current market value of US$192 per SOL.

Neptune's new Solana balance is now 31,181 tokens.

With Solana's PoS mechanism, Neptune expects to generate about a 7.5% annual yield. The Solana tokens acquired by Neptune will be locked and staked.

The company said 80% will be released linearly on a monthly basis until January 2028; and 20% will be released in March 2025.

The company's stock was up 2.8% on last look on Wednesday.

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