DeFi Development Corporation Expands Solana Holdings by 20.6%

DeFi Development Corporation (DFDV), formerly known as Janover (JNVR), has expanded its Solana (SOL) holdings by acquiring an additional 82,404 SOL tokens. This purchase brings the company's total SOL holdings to 400,091 tokens. At the current price of $143 per SOL, the value of DFDV's SOL stack exceeds $57 million.

The newly acquired tokens, which include locked SOL, were purchased through BitGo’s over-the-counter desk. These tokens are currently locked and cannot be moved on-chain until they are unlocked. However, they can still be traded over-the-counter between institutions. DFDV plans to stake these assets to generate yield, leveraging the potential for passive income from staking.

This accumulation of SOL tokens follows DFDV's recent acquisition of a validator operation. The company intends to use this validator to self-stake its entire SOL treasury, thereby generating protocol-native cash flow. This strategic move is aimed at maximizing the utility of DFDV's SOL holdings and creating a sustainable revenue stream from staking rewards.