-- SOL Strategies (HODL.CN) on Tuesday on said it closed its acquisition of the assets of Darklake Labs Pte. Ltd.
The company said the acquisition was completed for a purchase price of US$1.2 million, made up of US$200,000 in cash and 1.05 million shares.
In a statement the company noted that Darklake developed Zyga, a zero-knowledge proof system built natively for the Solana blockchain that enables private transaction execution while eliminating front-running and sandwich attacks at the point of execution. As of closing, the founders and core team of Darklake have joined SOL Strategies, added the company.
"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," said chief executive Michael Hubbard.
Shares of the company were last seen up C$0.11 to C$1.56 on the Canadian Securities Exchange.
Price: $1.56, Change: $+0.11, Percent Change: +7.59%