Flowra Ltd. and Korea Gold Change Digital Asset Co., Ltd. (KorDA) have signed a 12-month memorandum of understanding to examine whether KorDA’s gold-backed digital asset, KGLD, could be used as collateral to secure SOL for Solana validator delegation.
The agreement was signed in Seoul and does not launch a live program. Instead, the companies will use the initial MOU period to assess the proposed structure, identify potential counterparties and complete the regulatory review and due diligence required before any implementation.
Proposed link between tokenized gold and SOL
Under the concept being evaluated, SOL could be sourced from the Solana Foundation, exchanges, institutional investors, lending firms and other large SOL holders. That SOL could then be allocated to eligible validators through the proposed Flowra-KorDA Delegation Program, or FKDP.
KGLD would potentially serve as collateral for the arrangement rather than being used directly in validator operations. The companies are examining whether tokenized gold could help unlock capital for SOL that can subsequently be delegated to validators. They have not said that KGLD is currently being used as collateral or that the delegation program has begun.
Separate infrastructure and validator responsibilities
Flowra would provide the Solana infrastructure for the proposed program, including its Orderflow Public Auction (OOA), Programmable Block Policy (PBP) and Block Engine technology. KorDA would be responsible for validator operations, including servers, monitoring and key management.
The companies also plan to assess standards for selecting validators, allocating SOL and distributing income from staking rewards, block rewards and maximal extractable value (MEV) activity.
Any collateral used in the structure could be segregated from Flowra’s own assets and held through an eligible custodian, escrow arrangement or multisignature wallet. Flowra would not take custody of the collateral, according to the proposed framework.
Further agreements still required
KorDA is affiliated with ITCEN Team and develops blockchain applications focused on tokenization and the use of blockchain with precious metals, including gold-backed digital assets such as KGLD. Flowra focuses on Solana validator and order-flow infrastructure, including delegation services and MEV-related technology.
The proposed arrangement remains subject to regulatory review, due diligence and separate definitive agreements. The companies will determine during the 12-month MOU period whether the validator delegation model is viable and can move forward.
