Pineapple Financial Inc. has launched its $100 million Injective Digital Asset Treasury (DAT) strategy with an initial open market purchase of 678,353 Injective (INJ) tokens valued at about $8.9 million, the company announced on Tuesday.
The Toronto-based fintech said the purchase marks the first phase of its plan to become the largest INJ holder and staker, with all tokens to be deployed onchain for staking at an expected annual yield of 12.75%. That yield is nearly double Ethereum’s and about 1.8 times higher than Solana’s current staking rates.
The move follows Pineapple’s September 2025 $100 million private placement to fund the treasury.
“This initial Injective investment underscores our conviction in the strength of the $INJ token’s future and our ambition to create the world’s largest and most productive INJ treasury platform,” said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial.
“We’re excited to see Pineapple take this important first step in executing its Injective treasury strategy,” added Eric Chen, co-founder of Injective Labs.
“Pineapple is helping accelerate the adoption of onchain finance while reinforcing Injective’s role as a leading blockchain purpose-built for financial applications.”
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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Source: https://blockworks.co/news/pineapple-injective-treasury