DeFi Development Corp. has significantly increased its treasury reserves. Their final haul? 82,404.50 Solana (SOL) tokens, valued at over $11.2 million! This strategic maneuver increases the company’s total assets to a staggering 400,091 SOL tokens worth $58.5 million at today’s prices.

In other words, the company intends to store these Solana tokens for the foreseeable future. In addition, they’ll stake them so that they can earn even more native yield. This move further follows DeFi Development Corp.’s treasury strategy of moving its principal holdings to Solana (SOL).

DeFi Development Corp., formerly known as Janover Inc., is traded on NASDAQ under the symbol DFDV. The company has 2,001,887 shares of common stock outstanding as of the 2023-09-30. With the company Solana per Share (SPS) currently at 0.199 SOL, or $29.24 per Share.

The locked SOL tokens that were acquired were obtained through BitGo’s OTC desk. These tokens are subject to predetermined unlock schedules that operate automatically by the calendar. They originate from all kinds of places — vesting schedules, wind-downs from bankruptcies, or venture pools.

DeFi Development Corp. intends to stake the acquired SOL tokens, the locked-up tokens, to earn additional yield. The company’s SOL holdings consist of staking rewards earned as time has passed.

Significant treasury expansion with $11.2M Solana purchase.

Large SOL holdings of 400,091 tokens valued at $58.5M.

Strategy includes staking for additional yield generation.

Strong per-share metrics with $29.24 in SOL value per share.

ConnectedCity LLC alone serves more than 1 million web users each year, including multifamily and commercial property owners and developers. The company’s $262 million strategic investment shows they’re serious about their long-term commitment to digital assets and overall innovative financial strategies.

DeFi Development Corp. purchased Solana tokens with the intent to stake them for additional yield. This forward-looking move underscores their overall strategy to prudently manage the treasury and drive long-term shareholder value. The firm is doing its part by making Solana a clear focus in its company treasury policy. This commitment underlines its deep conviction in the long-term value of the Solana blockchain and its native token.

The locked tokens, obtained through BitGo's OTC desk, add another layer of complexity to the company's treasury management. DeFi Development Corp.'s strategy to stake these tokens, despite the time-based unlock schedules, indicates confidence in its ability to navigate these complexities and maximize returns.