Gate Research Institute: Analyzing the Dual Relationship Between Public Companies and Crypto Assets

Summary

• Public companies seek high staking yields: For public companies with high costs of issuing additional stocks or bonds, cryptocurrencies with high staking yields are very attractive. SOL has maintained a rising trend in token price over the past two years while offering high staking yields. For public companies, there are three ways to become SOL hoarders and gain additional staking yields: self-built Solana nodes, Helius node hosting services, and JITO staking platforms. Each of the three methods has its pros and cons, and public companies need to decide which option to use based on their financial situation and technical capabilities.

• Public companies pursue value growth: HYPE is the mainstream cryptocurrency for market value growth in the first half of 2025. Public companies become HYPE hoarders, and their stock prices will be linked to the price of HYPE tokens, potentially achieving rapid growth in company market value in the short term. Compared to other public chains like SUI, TRON, and XRP, which have also seen significant market value growth in the past year, HYPE's advantage lies in its refined token supply and demand management, ensuring the scarcity of HYPE tokens. The official staking platform of the public chain, StakedHYPE, will become an option for hoarders to earn additional income through staking. This platform has attracted over 10 million HYPE tokens for staking. However, compared to other public chains, HYPE's staking yield is relatively low.

• Public companies pursue ecological layout: some companies are no longer satisfied with merely being hoarders of coins, but hope to use coin hoarding as a means to develop DeFi or GameFi projects on the public chain, thus building a second growth curve for their business. Ethereum's Layer 2 modular blockchain has become the first choice for these companies due to its low development difficulty and high flexibility. Ethereum is a highly decentralized network, and founder Vitalik has always adhered to the principle of decentralization, encouraging independent development of Layer 2, with the Ethereum mainnet only responsible for the consensus layer. Many well-known companies outside the blockchain sector have already joined the team developing Ethereum Layer 2.

• PoW public chains need publicly listed companies with stable cash flow to become their hoarders: For the governors of the BTC, LTC, and KAS communities, having publicly listed companies with stable cash flow as hoarders can maximize the assurance that tokens will not be heavily sold off due to the losses of the listed companies. Collaborating with such publicly listed companies can ensure the stability of the token economic system, and the ecosystem possesses stronger sustainable development capabilities.
• PoS public chains require internet or cloud computing companies to become their token holders: From the perspective of project operators like ETH, SOL, and SUI, cloud vendors and internet companies can empower public chains through their long-term experience in operating large data centers. These companies are adept at building servers and, due to their extensive operational experience, can significantly reduce the probability of node downtime. They are ideal partners.
• Infra projects require software security companies to become their token hoarders: In recent years, there have been multiple security incidents involving blockchain infrastructure projects, including vulnerabilities in cross-chain bridges being exploited by hackers to steal users' cross-chain funds; smart contracts of oracles being tampered with, leading to serious discrepancies between on-chain and off-chain data. Therefore, the services provided by security companies are urgently needed by decentralized projects. Project parties are generally willing to pay security companies with their tokens as compensation for their services. Publicly listed companies can act as token hoarders, which not only preserves the value of the tokens they hold but also allows them to participate more deeply in Infra projects.

Disclaimer Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate shall not be liable for any losses or damages resulting from such investment decisions.