Sol Strategies Closes Darklake Labs Acquisition, Adds Zk Privacy To Solana Stack

@solstrategies has completed its acquisition of Darklake Labs, bringing the Singapore-based team's zero-knowledge privacy technology in-house. The deal was first announced on April 7 and closed today.

Darklake built Zyga, a ZK proof system designed natively for Solana that enables private transaction execution while eliminating front-running and sandwich attacks at the point of execution. The full Darklake founding team and core researchers have joined SOL Strategies as part of the transaction.

The purchase price came in at $1.2 million, structured as $200,000 in cash and 1,047,156 common shares valued at $1 million based on a five-day volume-weighted average price. The shares are subject to a four-month statutory lock-up.

"Privacy is a core functionality needed to bring global finance on-chain, and this acquisition continues our mission to support the Solana economy as we take a more active role in technology development," CEO Michael Hubbard said. SOL Strategies trades as HODL on the Canadian Securities Exchange and STKE on Nasdaq.