DeFi Development Corp Adds $3 Million in Solana as SOL Buys Slow

Decrypt10-05 21:48

In brief DeFi Development Corp. added about 26,203 SOL between Sept. 28 and Oct. 2, lifting holdings to 2,564,212 SOL and SOL equivalents, per an 8-K filed Oct. 5. The gain is roughly half the 47,706 ...

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The funds came in between Sept. 28 and Oct. 2, according to an 8-K, the form public companies file to disclose significant events.The Nasdaq-listed company, ticker DFDV, now holds 2,564,212 SOL and “SOL equivalents,” a term the filing doesn’t define. It values the pile at $302 million. That’s a 1% increase from the 2,538,010 it held ","collect":0,"end_time":0,"defaultTopTitle":"decrypt.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"SOLT":"2x Solana ETF","SLON":"ProShares Ultra Solana ETF","SOLZ":"Solana ETF","SOLX":"T-REX 2X Long SOL Daily Target ETF","SSK":"Rex-Osprey SOL + Staking ETF"},"translate_title":"随着 SOL 收购速度放缓，DeFi Development Corp 向 Solana 追加 300 万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SSK":0.6,"SOLX":0.6,"SOLT":0.6,"SLON":0.6,"SOLZ":0.6},"content_text":"In brief\nDeFi Development Corp. added about 26,203 SOL between Sept. 28 and Oct. 2, lifting holdings to 2,564,212 SOL and SOL equivalents, per an 8-K filed Oct. 5.\nThe gain is roughly half the 47,706 added the prior week and about a quarter of the 101,381 added the week ending Sept. 18.\nThe company says its treasury is up 11% since Aug. 12 and values it at $302 million, and it paid the first 13% dividend on its CHAD preferred stock on Oct. 1.\nDeFi Development Corp., a Financial services and asset management company known in the crypto ecosystem for having the second biggest Solana holdings in the world, just added 26,202 SOL, worth roughly $3 million, to its treasury. The funds came in between Sept. 28 and Oct. 2, according to an 8-K, the form public companies file to disclose significant events.The Nasdaq-listed company, ticker DFDV, now holds 2,564,212 SOL and “SOL equivalents,” a term the filing doesn’t define. It values the pile at $302 million. That’s a 1% increase from the 2,538,010 it held on Sept. 25.Myriad: Where does Solana go next? Click to make your prediction.The pace with which the company is adding to its coffers is cooling. DFDV added 101,381 SOL in the week ending Sept. 18 and 47,706 SOL the week after.CEO Joseph Onorati framed it differently in the company’s press release. “The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12,” he said.Lightning speed, in this case, was roughly half the previous week’s pace.DFDV is what’s known as a digital asset treasury company, a business whose main strategy is piling up one cryptocurrency on its balance sheet. It applies the approach Michael Saylor’s Strategy popularized with Bitcoin to Solana, and it runs its own validators, the computers that help run the network and earn rewards. For shareholders, the appeal is exposure to SOL through a regular brokerage account.DFDV pitches itself as a bigger swing on Solana. In an August release, Onorati said the company is designed to give investors magnified exposure to SOL. In practice, that means moves in SOL’s price are supposed to hit the stock harder, in both directions.The company sells CHAD, a preferred stock—shares that get paid dividends ahead of common stock—to raise money that its prospectus says will go partly toward buying SOL. CHAD has a stated amount of $10 and currently pays 13% a year, or $1.30 per share, according to the release. Its board can adjust that rate, per the same prospectus.The company also set up a $300 million at-the-market program, a way to sell new shares over time at market prices, per the release.BitcoinBTC · USD$85,935+2.92%24H7D1M1YYTDSep 29Sep 30Oct 2Oct 4Oct 5$86.8k$85.5k$84.2k$83.0k24h HighHigh$86,94924h LowLow$85,010VolVol$1.4BMarket projectionsOdds by MyriadThis weekBelow $86,000Below $86k51% chance→Buy Bitcoin with USDTPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →On Sept. 1, the company was offering 2.2 million shares of CHAD at $9, a deal that could raise $19.8 million. The IPO priced two days later at 1,375,000 shares and $8 each, for about $11 million. Against a treasury the company values at $302 million, that’s a small slice.DFDV also issued preliminary third-quarter estimates as of Sept. 30, not final results. It said SOL per share and total SOL grew by double digits since Aug. 12. Net asset value per share—what’s left for each common share after subtracting debts and preferred stock from holdings and cash—grew more than 100%.The company was known as Janover, a commercial real estate platform, until its 2025 pivot. In May 2025, it held nearly 600,000 SOL. It now holds more than four times that.The DAT model, though, has a catch. Treasury firms grow by selling shares at a premium, meaning more than the tokens behind each share are worth, and history has proven that growth stalls when shares fall below that value. By December 2025, many firms’ shares had slipped below the value of their crypto holdings, Strategy’s included.The company has declared CHAD dividends of $0.00516 per share for each business day through Oct. 30.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.Your EmailGet it!Get it!","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2673087675","isCrawlerRequest":true}