New Day, New DAT: Brera Holdings Rebrands to SolMate Alongside $300M PIPE Deal

Brera Holdings PLC, a publicly traded company based in UAE, has announced the successful completion of a $300M PIPE deal. Alongside the 9-figure raise, the firm has also rebranded itself to Solmate, reflecting the business's new direction.

The latest in a growing sea of competing DATs, Solmate enjoys backing from prominent industry figures, including Ark Invest, RockawayX, and the Solana Foundation.

Seeking to stand out in a crowded field, Solmate claims its yield generation strategies will outperform those of its rivals. But how?

Solmate Raises $300M with Backing From Ark Invest, RockawayX, and Solana Foundation

On September 18, Solmate, formerly Brera Holdings PLC, announced it had raised $300M in funding from an oversubscribed PIPE deal, with sponsorship from the UAE’s own Pulsar Group and backing from Ark Invest, Rockaway X, and the Solana Foundation.

According to the press release, Solmate expects to enter into a definitive agreement, leveraging its relationship with the Solana Foundation, and an already-executed Letter of Intent, to accumulate discounted $SOL. SolanaFloor has engaged the Foundation for further clarification on the deal's details, but has yet to receive a response.

Gearing up to go toe-to-toe with Multicoin Capital MP Kyle Samani and other Solana DAT frontmen, Solmate has named ex-Kraken Chief Legal Officer Marco Santori as its CEO. RockawayX CEO Viktor Fischer and economist Dr. Arthur Laffer join the board of directors, with the Solana Foundation expected to appoint two additional board seats.

“Solmate is not just another treasury. It will execute on a durably differentiated strategy in a crowded field of look-alike DATs by building real crypto infrastructure in the UAE. Our stakeholders have deep, long-term conviction in the Solana ecosystem and will demand that we accumulate SOL through bull markets and bear markets alike. Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs and AI.” - Marco Santori, Solmate CEO

Solmate, and by extension, its backers, aim to install Solana at the heart of the UAE rapidly expanding digital asset industry. The firm believes that its investment in local blockchain infrastructure will enable Solmate to make powerful connections with regional investors across the Middle East, catapulting Solana adoption and growth in the area.

“At Pulsar, we are committed to positioning Solana at the heart of the UAE’s digital transformation. By empowering Solmate to build exclusive partnerships and leverage Solana’s unique proximity to key regional stakeholders, together we expect to accelerate adoption, nurture a dynamic developer community, and facilitate major blockchain innovation across the region.” - Alyazi Al Khattal, Pulsar Group CEO

Solmate Yield to Outperform Rival DATs?

Like any new business, Solmate aims to distinguish itself from its competitors by offering a superior service. In the case of Digital Asset Treasuries, Solmate is confident in its ability to “outperform typical DAT validator strategies.”

Solmate believes this outperformance will come from its installation of bare metal servers and infrastructure in Abu Dhabi. The firm has confirmed it will be operating its own validator, which it claims will “...for this time, allow regional investors the opportunity to capitalize on Solana’s native yield-generating capability.”

Regional investors in the UAE are not currently excluded from earning staking rewards. 

RockawayX CEO and Solmate Board member Viktor Fischer reinforced the supposed potency of Solmate’s bare metal staking infrastructure, positing that the firm will deliver optimised yield.

“As seed investors in Solana who have always believed that it will be the dominant blockchain network for capital markets, we are excited to join Solmate’s board and contribute our infrastructure and yield expertise. We expect to harness top-performing, bare metal staking and battle-tested yield strategies to deliver one of the best yields on SOL in Solmate treasury.” - Viktor Fischer, Solmate Board Member and RockawayX CEO

At this stage, it’s worth noting that existing $SOL DATs, like Defi Development Corporation and Sol Strategies, are also running their own validators. SolanaFloor reached out to Viktor Fischer for comment on how exactly the Solmate validator will outperform its rivals, but did not receive a response.

As with certain other Solana DATs, like Forward Industries, Cantor Fitzgerald & Co. is also listed as the deal’s exclusive financial advisor and sole placement agent.

Forward Industries Leads $SOL Arms Race

Pursuant to a momentous buying spree over the course of the weekend, Forward Industries is still far and away the biggest $SOL-based DAT.

After accumulating over $1.6B worth of $SOL tokens, Forward Industries has since launched a $4B equity offering to continue its aggressive Solana accumulation.

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