- DeFi Dev Corp. acquires Solana validator, boosting $SOL exposure and staking rewards.
- DeFi Development Corp. increases $SOL holdings with $3.5M acquisition of validator.
- DeFi Dev Corp. acquisition boosts role in Solana and supports network decentralization.
DeFi Development Corp. (Nasdaq: DFDV), a leading entity in the Solana (SOL) accumulation public market, has agreed to acquire a Solana validator business. The deal, valued at $3.5 million, will be completed through a mix of $3 million in restricted stock and $500,000 in cash.
The acquired business, which holds approximately 500,000 SOL tokens and is valued at around $75.5 million, will significantly enhance DeFi Dev Corp.’s standing in the Solana ecosystem. However, once completed, the acquired validator will operate under the DeFi Development Corp. brand. The company will transition to self-staking its existing SOL holdings allowing it to capture validator rewards and reduce reliance on third-party staking services.
Company executives view the move as a significant step in optimizing the firm’s SOL accumulation model. “Running our own high-performance validator will help to increase SOL per share growth,” said Chairman and CEO Joseph Onorati. He emphasized that the deal allows DeFi Development Corp. to lower operational costs and increase revenue from external delegations.
DeFi Dev Corp. Deepens Exposure to Solana Ecosystem
The acquisition aligns with DeFi Development Corp.’s larger ambition of burrowing itself deeper into the Solana network. The firm currently holds 317,273 SOL, worth $47.9 million at recent market prices. The company will now stake all of these tokens through its newly acquired validator, blending the company into Solana’s infrastructure.
“This acquisition doesn’t just add a new line of protocol-native cashflow,” said Chief Investment Officer and Chief Operating Officer Parker White. “It amplifies our alignment with the infrastructure underpinning tomorrow’s decentralized economy,” White added that owning and operating validators with significant delegated stake places the company at the core of the Solana network.
DeFi Development Corp. did not disclose the name of the validator business it plans to acquire.
Transition from Real Estate Tech to Crypto Treasury Firm
The company started in the real estate software market as Janover until it rebranded to DeFi Development Corp. on April 22 with a strategic market transition. Under new leadership from previous Kraken executives, the firm implemented a Solana-centric treasury system similar to the MicroStrategy bitcoin model.
Under its updated treasury policy, DeFi Dev Corp. allocates its primary reserve asset to SOL. This strategy enables public market investors to access transparent Solana token exposure. The company is Solana assets’ leading public investment platform, matching MicroStrategy’s bitcoin-focused model.
At press time, Solana trades at $145 while showing a 24-hour trading volume of $2.3 billion, reflecting ongoing market interest in its blockchain performance.