DeFi Development Corp. Increased Its SOL Holdings by $3 Million

DeFi Development Corp. added 26,203 SOL, valued at approximately $3 million, to its treasury from September 28 to October 2. As a result, the company's total assets reached 2,564,212 SOL and equivalents, estimated at $302 million. This represents a 1% increase compared to the 2,538,010 SOL the company held on September 25. The pace of SOL accumulation is slowing down: in the week ending September 18, the company added 101,381 SOL, followed by 47,706 SOL the next week. The company's CEO, Joseph Onorati, noted in a press release: "The DFDV ship is moving at lightning speed." However, this speed is actually half of what it was the previous week.

The Nasdaq-listed company DFDV follows a strategy known as digital asset treasury, which involves accumulating a single cryptocurrency on its balance sheet. It applies an approach popularized by Michael Saylor regarding Bitcoin to Solana. Central to the strategy is the idea of providing shareholders access to SOL through a regular brokerage account. To support its actions, DFDV issued CHAD shares, which provide dividends before dividends are paid on common shares. CHAD has a par value of $10 and currently pays 13% annually, which amounts to $1.30 per share. Additionally, the company launched a $300 million program allowing the sale of new shares at market prices over time.

DFDV announced preliminary estimates for the third quarter on September 30, indicating that SOL per share and the total number of SOL increased by double digits since August 12. The net asset value per share, which remains after deducting debts and preferred shares from assets and cash, increased by more than 100%. As of May 2025, the company, formerly known as Janover, owned nearly 600,000 SOL and now holds more than four times that amount. Amid these developments, DFDV also declared CHAD dividends of $0.00516 per share for each business day until October 30.