Multicoin Managing Partner: SOL DAT generates native income through staking, which is more advantageous than BTC DAT

Kyle Samani, Managing Partner of Multicoin Capital, pointed out in a recent analysis that SOL DAT has an advantage over the Bitcoin-based digital asset treasury model (BTC DAT), noting that BTC DAT appears to struggle to meet its obligations under a priority structure due to the lack of a native revenue stream, as dividends or conversions become a burden and can dilute shareholder value if the company has to sell assets during a downturn, while SOL can generate real income through pledging, which is derived from organic economic activity and MEV (maximum extractable value, profit from transaction sequencing), and then create a self-sustaining model that uses the proceeds to make SOL compounding investments, thus providing incentives for long-term holders.