LONDON, UK: Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana ecosystem, has acquired the entire issued share capital of Hyperslot PTE Limited for a total consideration of £225,000, which is to be satisfied with the issue of 150,000,000 new Supernova Shares of £0.001 each in the company at an issue price of 0.15p per share.
The Share Purchase Agreement (SPA) also contains the customary warranties, covenants, undertakings and conditions attached to a transaction of this nature. Furthermore, the Consideration Shares will be subject to a lock-in agreement for six months from completion.
Hyperslot is a Solana (SOL) validator company which has a compelling thesis around the future of the SOL in the developing world, with their core thesis being that it can build the largest developing world validator network, focusing on South America, Asia and Africa. The Company already has over 1,500 of their SOL ($250,000 USD) staked on their network and is targeting a pipeline over 115,000 SOL in the near term.
Supernova’s vision is that the unprecedented growth of the SOL blockchain in the last 12 months will continue to grow at pace and eventually become the dominant global Layer 1. SOL is more scalable, faster and cheaper than Ethereum which is why it has the fastest growing total value locked (TVL), projects and developers.
The acquisition importantly includes their SOL which, assuming an 8% yield, makes this acquisition break even in year one based on their SOL alone. Hyperslot’s proprietary Maximum Extractable Value (MEV) Bot technology is also included in the acquisition.
Michael Edwards, Executive Chairman of Supernova Digital Assets, commented: “Having pivoted our strategic focus to the Solana digital asset ecosystem, we believe the Solana network has the power to drive substantial and enduring growth in the future. Our acquisition of Hyperslot allows us to own the opportunity to build the largest validator network in the developing world, where they have the highest adoption of cryptocurrency. By investing in the Solana network, we can build and develop a foundational technology of the future and maximise shareholders returns.”
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