Sharps Technology, Inc. (“STSS” or the “Company”) (NASDAQ:STSS), amedicaldevice companywithaSolanadigital assettreasurystrategy,and Jupiter Exchange (“Jupiter”), one of Solana's leading decentralized finance (DeFi) superapps, today announced a strategic partnership to utilize Jupiter's staking infrastructure as part of STSS'streasury strategy.Jupiterisoneofthelargest decentralized trading platforms, with over $2trillioninlifetime tradingvolume.
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As part of this collaboration, STSS intends to directly stake a portion of its SOL into Jupiter's validatorthroughnative staking,markingasignificantstepinSolana's growthstory,asJupiter's Solana validator is one of the top three largest validators on Solana by staked tokens. STSS and Jupiter also intend to stake a portion of STSS assets to JupSOL, Jupiter's liquid staking token (LST) platform. This partnership emphasizes STSS's dedication to support the validation and economic security of the Solana network in alignment with major Solana ecosystem players.
The Company recently acquired over two million SOL, currently valued at more than $400 million with SOL trading at over $220, funded through a private investment in public equity (PIPE)transaction.Byinjectingcapital intoJupiter'svalidator andJupSOL,respectively,STSS intends to earn staking yields, while also expanding liquidity in the Jupiter and Solana ecosystems.
“Jupiter is Solana's leading DeFi superapp. It provides a full suite of trading products (spot, perps,andmobile) andDeFitools (tokencreation,yield generation,andportfolioreview)togive both new and pro users a comprehensive experience. It has the most integrated set of APIs on Solana, making it both the leading DeFi product and the leading DeFi platform,” said James Zhang,StrategicAdvisortoSTSS. “Thispartnershipunderscoresourcommitmenttosupporting the most ambitious builders in the Solana universe. By aligning with Jupiter, STSS will look to create new opportunities to enhance shareholder value, while simultaneously strengthening Solana's connection with public markets.”
“WeareexcitedtopartnerwithSTSSbecause oftheirmanagementteam'shistoryofalignment with the Solana ecosystem, their ability to run Solana-native DeFi strategies, and the depth of thenetworkthefoundershavewithintheSolanaecosystem,”saidSiong,co-founderofJupiter. “We look forward to growing the Solana pie together with STSS, and believe STSS iswell-positionedtoincreaseawarenessandexcitementabout theJupiterproduct suite.”
ForwardLooking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities ExchangeActof1934,asamended.Allstatementsinthisrelease otherthanstatementsofhistoricalfact are forward-looking statements, including statements regarding the Company's execution of its Solana digital asset treasury strategy, the anticipated benefits of its partnership with Jupiter Exchange, and the potential opportunities such initiatives may create for retail and institutional audiences. Forward-looking statements are based on current expectations, assumptions, and beliefs, and involve risks and uncertainties that could cause actual results to differ materially.
These risks and uncertainties include, among others: the Company's ability to successfully execute its Solana treasury strategy; volatility in the market price of SOL and other digital assets; changes in the regulatory or legal environment; competitive pressures; and general market, economic, and business conditions.Additionalrisksaredescribedinthe”Risk Factors”sectionoftheCompany'sfilingswiththe Securities and Exchange Commission (the “SEC”), which are available on the SEC's website at www.sec.gov.
Forward-lookingstatementsspeakonlyasofthedateofthispress release.TheCompany undertakesno obligation to update or revise these statements, whether as a result of new information, future developments, or otherwise, except as required by law.
AboutSharps Technology
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented,best-in-class,smart-safetysyringeproducts tothehealthcareindustry.TheCompany'sproduct lines focus on providing ultra-low waste capabilities that incorporate syringe technologies that use both passive and active safety features.
The Companyhasadopted adigitalasset treasurystrategyfocused onaccumulatingSOL,thenative digital asset of the Solana blockchain, leveraging capital markets raises to power on-chain yield generation with the Solana Ecosystem.
AboutJupiter Exchange
Jupiter Exchange is one of the largest decentralized trading platforms, with over $2 trillion in lifetime tradingvolume.OriginallylaunchedasSolana's premierDEXaggregator,Jupiterhassince expandedinto perpetual trading, a native mobile app, liquidity infrastructure, and now lending.
Contact
ProsekPartnersforSharpsTechnology Pro-SharpsTechnology@Prosek.com
Jupiter Exchange partnerships@jup.ag
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