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Bastion is a Lending and Stableswap protocol built on Aurora, the EVM-compatible layer of NEAR. By leveraging Aurora, Bastion can create an autonomous interest-rate engine with superior capital efficiency, low slippage swaps, fast transactions, ultra-low fees, precise liquidations, and benefit from the user experience of NEAR.
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SkyAI faces joint pressure from acquirer Forward Industries and shareholders, casting doubt on the prospects of a board election.
According to The Block, SkyAI, a Solana financial company, faces dual pressure ahead of its September 18 annual shareholder meeting: Bastion Trading, which holds a 9.99% stake, along with affiliated shareholders, have announced they will vote "against" all five board candidate nominees, citing reasons such as unilateral amendments to the company's articles of incorporation, the rollout of a "poison pill" plan without a shareholder vote, and related-party transaction issues. Meanwhile, potential acquirer Forward Industries, the largest publicly traded financial company on Solana, has also published an open letter urging shareholders to oppose all board candidates and the company’s proposed 2026 equity incentive plan—which would issue an additional 5,145,000 shares for equity awards, resulting in a dilution exceeding 7.2%. Earlier this June, Forward had proposed acquiring SkyAI through an all-stock deal at $1.55 per share (representing a 20% premium at the time), but the board rejected the offer in July. Since then, Forward’s stock price has climbed over 50%, while SkyAI’s has remained essentially flat around $1.35. Forward has also questioned related-party transactions tied to companies controlled by the brother of Alice Zhang, SkyAI’s chief information officer and director, and stated it remains open to a potential strategic merger.
Solana treasury company SkyAI shareholder seeks to veto all directors, company in governance crisis
Odaily News - Bastion Trading Limited, a shareholder holding 9.99% of Solana treasury company SkyAI, stated in an SEC filing that it plans to vote against all five current directors at the annual shareholders' meeting on September 18. Bastion expressed deep concerns over the company's amendments to its charter that weaken shareholder rights, the board's implementation of a poison pill without shareholder vote, and related-party transactions. Independent director Annemarie Tierney resigned in December 2025, having previously raised issues regarding potential conflicts of interest and related-party transactions with management. SkyAI, formerly Sharps Technology, established its Solana treasury in August 2025 through a PIPE financing round raising over $400 million. The company currently holds approximately 2 million SOL, with a current market value of around $59 million. Its stock price has declined approximately 86% over the past year.