Forward Industries’ Launches Solana’s 8th Largest Validator, Powered by DoubleZero

Forward Industries is asserting its dominance in Solana’s DAT race, becoming the third treasury company to spin its own validator to optimize yield generation.

Deploying on DoubleZero’s infrastructure and slated to run Jump Crypto’s Firedancer client, Forward Industries seems to be doing everything in its power to IBRL.

Constituting the entirety of the firm’s $SOL treasury, Forward Industries’ validator is already the eighth largest on the Solana network.

Forward Industries Commits Entire Treasury to Validator

Solana’s biggest DAT, boasting an NAV of over $1.69B, has deployed an institutional-grade validator, designed to generate revenue via staking rewards and bolster the firm’s sizeable treasury even further.

At press time, Forward Industries has become just the third Solana DAT to manage its own validator operations, joining Defi Development Corporation and Sol Strategies. While many emerging DATs intend to launch their own validators, others, like Vision Sys AI, have opted to outsource their staking arrangements to providers like Marinade.

According to Solana Beach data, Forward Industries has already allocated the entirety of its treasury to its validator.  With over 6.86M $SOL deposited, Forward’s Validator is the eighth-largest validator on the network. 

While Forward Industries’ sits in eighth position, it’s worth bearing the firm’s relationship with Galaxy, one of its main financial backers, in mind. Collectively, Forward Industries and Galaxy boast over 15M staked $SOL, giving the collaboration significant influence over the network.

Amidst the top 8 validators, only 3 operators, including Forward Industries, are offering 0% commission on delegations. 

DoubleZero to Power Forward’s Validator

Reinforcing Solana's eternal mission to increase bandwidth and reduce latency, Forward Industries is doing everything in its power to optimize performance. On top of leveraging Jump Crypto’s Firedancer client, the firm has also opted to run operations on DoubleZero’s infrastructure network.

“Decentralized networks only reach their full potential when the underlying infrastructure meets institutional standards of scale, security, and performance. DoubleZero has rapidly emerged as the leading platform for high-performance validator operations, combining best-in-class engineering with the reliability institutions require. By running our validator on DoubleZero and establishing a long-term partnership with the platform, we are aligning with the foremost innovators in blockchain infrastructure and directly supporting Solana’s ability to operate at global scale. Together with DoubleZero, Galaxy, and Firedancer, we are fortifying the network’s resiliency and helping ensure Solana remains the standard for institutional adoption in decentralized finance.” - Kyle Samani, Chairman of the Board of Forward Industries.

After hitting markets like a ton of bricks and acquiring 6.8M $SOL tokens over the course of a weekend, Forward Industries’ $SOL accumulation efforts seem to have stalled. Despite filing an $4B At-The-Market Equity Offering with the SEC on September 17, Forward Industries has yet to add more assets to its treasury.

However, Forward Industries’ most recent press release hints at some of their future plans. According to the announcement, “all future Forward Industries validators will operate on DoubleZero”, suggesting that the network may see more geographically diversified range of validators from Solana’s biggest DAT.

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