Formerly known as Janover, the DeFi Development Corporation (DFDV) has made a significant move to bolster its digital asset portfolio by adding 82,404 Solana (SOL) tokens to its treasury. This acquisition brings DFDV’s total SOL holdings to an impressive 400,091 tokens.
With Solana currently valued at $143 per token, this strategic accumulation translates to a substantial investment worth over $57 million. The recent purchase, which includes locked SOL, was executed through BitGo’s over-the-counter desk, as detailed in a press release from the company. Although these tokens cannot be moved on-chain until they are unlocked, they remain tradable over-the-counter, offering flexibility and liquidity in institutional settings.
DFDV plans to stake the newly acquired assets with the aim of generating yield, thereby maximizing the potential of its treasury. This moves comes on the heels of their recent acquisition of a validator operation, which will allow the company to self-stake its entire SOL treasury. This initiative is set to generate what the firm describes as “protocol-native cashflow,” reflecting a commitment to not only hold assets but to actively enhance their value over time.
Despite this positive development in its strategy, DFDV shares experienced a decline of 3.8% in Tuesday morning trading, reflecting broader market conditions that also saw Solana’s price dip by 2%. Investors and stakeholders will be closely monitoring how these strategic decisions impact the company’s performance and the overall landscape of decentralized finance.
