Isabella García
DeFi Development Corp., a publicly traded treasury firm focused on the Solana ecosystem, has officially adopted liquid staking token (LST) technology to optimize both its treasury strategy and validator operations.
In a press release issued on Wednesday, the company revealed plans to convert part of its SOL holdings into dfdvSOL, a specialized LST powered by Sanctum’s liquid staking infrastructure. LSTs enable holders to stake their crypto assets while maintaining access to liquidity, offering a more dynamic approach to treasury management.
“This step makes DeFi Dev Corp. the first publicly listed company to hold LSTs on Solana,” the firm said, calling it a significant milestone in becoming the leading crypto-native treasury model in public markets.
Driving Stake and Expanding SOL Exposure
According to Parker White, the firm’s Chief Investment and Operating Officer, utilizing dfdvSOL creates new avenues to channel stake toward their validators and expand SOL ownership.
The move aligns with the company’s broader shift toward blockchain infrastructure, following its rebranding from Janover — previously a real estate software provider — after its acquisition by a group of former Kraken executives in April.
$24M Capital Raise to Fuel Solana Strategy
Earlier this month, DeFi Development Corp. secured $24 million through a private placement round. The funding will support general operations and further SOL accumulation, cementing the company’s strategic bet on the Solana network.
Most recently, on May 15, the firm acquired an additional 16,447 SOL, increasing its total holdings to 609,190 SOL, which is currently valued at approximately $105.8 million.
Stock Slips Amid Market Movement
Despite the operational updates, DeFi Dev Corp.’s stock dropped 16.95% on the Nasdaq, closing at $22.19 on Wednesday, based on data from Yahoo Finance.
Meanwhile, Solana’s token (SOL) was down 0.7% in the past 24 hours, trading at $173.4, with a total market cap of $90.3 billion, making it the sixth-largest cryptocurrency by valuation, according to PRIME.
