DeFi Development Corp., formerly known as Janover Inc., has announced a substantial increase in its Solana (SOL) treasury with the purchase of approximately 82,404.50 SOL tokens. This acquisition, valued at roughly $11.2 million based on current prices, brings the company’s total Solana holdings to approximately 400,091 SOL, with a total valuation of $58.5 million, including staking rewards, as of May 6, 2025. The move underscores the company’s strategic shift towards building a significant presence in the Solana ecosystem.
Key metrics released by DeFi Development Corp. provide a snapshot of its current Solana position. The company now holds 400,091 SOL, representing a total value of approximately $58.5 million. With 2,001,887 total shares outstanding, this translates to a Solana per Share (SPS) ratio of 0.199, with each share theoretically backed by approximately $29.24 in Solana.
Further details revealed that a portion of the newly acquired Solana tokens are currently locked, having been sourced through BitGo’s over-the-counter (OTC) desk. This service facilitates transactions with institutional sellers, often involving tokens subject to time-based unlock schedules. DeFi Development Corp. stated its intention to hold all tokens acquired through this program for the long term and actively stake them to generate native yield within the Solana network. The company clarified that “locked SOL” refers to tokens under contractual restrictions, such as vesting schedules or project-specific lock-ups, which prevent on-chain transfer until a specified period but can still be traded OTC among qualified parties. DeFi Development Corp. has committed to keeping investors informed of its treasury developments and strategic direction through future public releases and regulatory filings.
