Multicoin Managing Partner: SOL DAT generates native returns through pledge, which has more advantages than BTC DAT

Golden Finance reported that Kyle Samani, managing partner of Multicoin Capital, pointed out in a recent analysis that SOLDAT has more advantages than the Bitcoin-based digital asset treasury model (BTCDAT). He pointed out that BTCDAT seems to be difficult to fulfill its obligations under a priority structure due to lack of native sources of income, because if a company must sell assets during a downturn, dividends or conversions will become a burden and may dilute shareholder value. SOL can generate real returns by pledging the original production, whose returns come from organic economic activities and MEV (maximum extractable value, profits from transaction sorting), and then create a self-sustaining model, using returns and then compound investment in SOL, thereby providing incentives for long-term holders.