Building the Largest Injective Treasury and Staking Platform

Headquartered in Toronto, Pineapple stated that this acquisition represents the foundation of its ambition to establish the world’s largest INJ treasury and staking platform. All purchased tokens will be deployed on-chain, with an expected annual yield of 12.75%.

This yield notably outpaces the current staking rewards offered by other major blockchains, nearly double that of Ethereum and around 1.8 times higher than Solana’s present rates.

CEO Shubha Dasgupta commented:

“This initial Injective investment reflects our strong conviction in the long-term potential of the $INJ token and our mission to build the most productive and scalable Injective treasury platform globally.”

Injective Labs co-founder Eric Chen also highlighted the move’s importance, stating:

“Pineapple is accelerating the adoption of on-chain finance while reinforcing Injective’s role as a leading blockchain designed for financial applications.”

Backed by Strong Capital

This strategy is supported by Pineapple’s $100 million private placement completed in September 2025. With this capital, the company aims to strengthen its position within the Injective ecosystem, creating long-term value while positioning itself as a leader in blockchain-based financial infrastructure.

What Is Pineapple?

Pineapple Financial Inc. is an award-winning fintech firm and one of Canada’s leading mortgage brokerage networks. The company focuses not only on empowering homeowners but also on ensuring the long-term success of its hundreds of brokers and agents across the country.

Through cloud-based platforms and AI-powered solutions, Pineapple enhances operational efficiency for its network, enabling brokers to deliver better services to clients. Beyond its financial innovation, the firm is also recognized for its strong commitment to social responsibility, actively sponsoring charities and community initiatives across Canada.

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Why the Solana Treasury SPAC Deal Fell Through

The exact reason for the deal’s collapse has not been officially disclosed. However, sources note that the digital asset treasury (DAT) company may now explore alternative options. The news broke just two weeks after a limited partner in Asymmetric revealed on social media that the fund had suffered almost an 80% decline this year.

Options Offered to Investors

Following this disclosure, McCann announced that Asymmetric’s investors had been given the option to fully exit the fund or roll their capital into a “specific illiquid investment,” which is believed to have been the now-cancelled Solana DAT initiative.

The Accelerate Plan and SPAC Process

The treasury company was presented to investors under the name Accelerate, with ambitions to raise up to $1.5 billion, according to initial reports from Unchained. The plan involved going public through a SPAC merger with Gores Holdings X, a blank-check company. Investor materials indicated McCann would serve as co-founder and CEO, while Komal Sethi, a board member at CoinList, would act as co-founder and chief strategy officer.

This development highlights the ongoing challenges faced by digital asset companies attempting to go public via SPACs, especially in a volatile market environment.

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