- DeFi Development Company aims to raise $1 billion to acquire Solana, according to an SEC filing.
- It has raised 42 million and holds approximately $48.2 million worth of SOL.
- DeFi Development Company will stake SOL and actively enhance the security of Solana’s network.
DeFi Development Company formerly known as Janover Inc., has announced plans to raise $1 billion through securities sales aimed at acquiring Solana (SOL). This move marks a massive shift in the company’s strategy, reinforcing its commitment to crypto after a major rebranding and ticker change from JNVR to DFDV.
The firm’s rebranding on April 22, 2025 demonstrates its interest in digital assets, particularly Solana. DeFi Development, in an SEC filing, also planned to distribute several securities, including stock, debt securities, and warrants. It uses a shelf offering that provides it with the ability to release securities incrementally instead of unloading all at one time.
DeFi Development Raises $42M for Solana Treasury
DeFi Development raised $42 million from the sale of convertible notes to initiate its Solana treasury, according to a report by Coinbase. The initial funding was used to buy SOL tokens, according to reports. Additionally, the company registered 1,244,471 shares of its common stock to resell related to its past funding activities.
Adopting MicroStrategy’s framework, DeFi Development embraced a digital assets treasury policy, which is being spearheaded by Solana. Voted by its board on 4 April, 2025, the policy permits the buildup of SOL holdings over the long term. The company’s aggressive strategy is being given the nickname “Solana MSTR” within crypto circles, reflecting increased corporate interest in Solana.
The company intends to use the net proceeds from its offering for $1 billion to purchase additional Solana and for general corporate purposes. The precise details of each offering will be made available in supplements at time of sale. Significantly, Coinbase defined DeFi Development as a potential first major corporate whale for Solana.
Staking SOL to Secure the Solana Network
In addition to just acquiring Solana, DeFi Development plans to operate validator nodes. Validator operations will enable it to stake SOL, secure the Solana chain, and reinvest reward earnings. The approach is similar to that of MicroStrategy’s Bitcoin accumulation but with an additional nuance that makes their crypto treasury productive.
Currently, Development holds approximately $48.2 million worth of SOL, staking reward included. The company’s initiative to accumulate a big Solana treasury while also contributing to the security of the network stands to give SOL a huge confidence boost, much like how MicroStrategy became a public pillar of support for Bitcoin.
The company is being positioned as the first major corporate SOL whale, mirroring MicroStrategy’s groundbreaking Bitcoin strategy. Within the crypto community, the move has already been nicknamed “Solana MSTR.”
Originally targeting SaaS solutions for financing commercial property debt, the company refocused its management by onboarding former Kraken executives to spearhead its crypto transition.