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DeFi Development Adds $11.2M in SOL, Bringing Holdings to More Than 400K Tokens
Formerly known as Janover, the company's SOL holdings are worth more than $57 million at current prices.
What to know:
- DeFi Development Corporation added 82,000 SOL, bringing total treasury holdings to over 400,000 tokens
- The company sourced part of its SOL via OTC deals involving locked tokens
- New holdings will be staked to earn yield as part of a long-term treasury strategy.
Formerly known as Janover (JNVR), DeFi Development Corporation (DFDV has added an additional 82,404 solana (SOL) tokens to its treasury, pushing its total holdings to 400,091 SOL.
At SOL's current price of $143, the company stack is worth more than $57 million.
STORY CONTINUES BELOW
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The newly acquired tokens include locked SOL, purchased through BitGo’s over-the-counter desk, according to a press release. These tokens can’t be moved on-chain until unlocked, but they can still be traded over-the-counter between institutions, the firm said.
The company said it plans to stake these assets to generate yield.
The accumulation follows the acquisition of a validator operation earlier this week, which it will use to self-stake its entire SOL treasury and generate “protocol-native cashflow.”
DFDV shares are lower by 3.8% in Tuesday morning trade alongside SOL's 2% price decline.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
