GraphiteProto, commonly associated with the pseudonymous Solana developer “Derugged”, has executed a Dollar‑Cost Averaging (DCA) strategy by periodically buying SOL to build a SOL treasury. The new DCA order for 2,773 SOL, is valued at roughly $534,620 and adds to the existing DCA program started by the company in late July.
The move indicates a strategic effort to build and grow its SOL treasury through periodic automated buying. The X post also revealed that the company has an additional 555 $SOL that it earned in revenue and which hasn’t yet been deployed into the DCA. This typically will help it mitigate price volatility and build a reserve denominated in the native token.
Why build a SOL treasury?
Taiyo Robotics, owner of GraphiteProto and projects like Bonk & LiveBonk is a crypto-focused venture building tooling and protocols on Solana. By accumulating SOL, they stand to gain from the long-term success of the Solana network. Holding a treasury enables the company to participate in on-chain governance and staking mechanisms. It covers operational fees and development costs that are denominated in SOL, and creates alignment for builders to benefit as the network matures.
Companies issuing SOL treasuries, similar to what MicroStrategy has done with BTC, seek to position their balance sheets for upside from SOL appreciation. Some peers in the ecosystem, such as SOL Strategies and DeFi Dev Corp, have publicly disclosed buying SOL in bulk to serve as treasury reserves and drive alignment between their corporate growth and network success.