Source time Edition date
Forward Industries grows SOL treasury to 8.7 million as token hits nearly three-month low
Forward Industries 将 SOL 财库增至 870 万枚，代币跌至近三个月低点
Forward Industries' $50 million credit line lets it keep accumulating SOL, but that leverage concentrates risk for Forward shareholders if the token's slide near a three-month low continues.
Judgment
Forward's board is choosing to layer a two-year $50 million SOL-backed credit line and up to $50 million USHP commitment on top of an 8.7 million SOL treasury, taking on concentrated shareholder risk while SOL sits near $82 and FWDI near $5.25.
Basis
The Block reports Forward secured a two-year, $50 million credit facility from an unnamed U.S. national bank, backed by SOL that stays staked and keeps earning rewards. Forward also committed up to $50 million to USHP, a tokenized U.S. home-price product, and plans to use investment income to buy more SOL. Since end-September it added roughly 226,000 SOL; holdings are about 8.7 million SOL, worth roughly $726.5 million, or about 1.5% of Solana's circulating supply. That is the largest Solana treasury among public companies, versus just over 2.6 million SOL at DeFi Development. The mechanism: the SOL-backed line supports accumulation and staking rewards but ties the balance sheet to SOL, which fell as low as $82 before recovering to around $83.50, while Forward shares hit $5.25 and are down more than 28% this year.
- SOL treasury8.7 million SOL
- Closest rivaljust over 2.6 million SOL
- FWDI close$5.25
- SOL low$82
Unclear The source does not disclose the credit facility's interest rate, collateral terms, or the identity of the unnamed bank.
Next Next check: Forward's next treasury disclosure should show whether the $50 million facility is drawn and whether the pledged SOL remains staked.