DeFi Development Corp Seeks $1B to Expand SOL Holdings

DeFi Development Company (NASDAQ: JNVR), known in the crypto community as the “MSTR of Solana,” has filed for a $1 billion shelf offering with the U.S. Securities and Exchange Commission (SEC). 

To reach its funding goal, the company plans to issue:

• Common and preferred stock 
• Warrants 
• Debt instruments
• Other securities

Formerly operating under the name Janover, DeFi Development recently rebranded and outlined a strategy focused on long-term accumulation of SOL, the native token of the Solana blockchain. 

Currently, the firm holds nearly $34.4 million worth of SOL and intends to launch its own validator nodes to generate staking rewards

Details of the $1 Billion Offering Plan 

In a filing with the SEC, DeFi Development said it may offer various combinations of securities totaling up to $1 billion. 

“We may sell any combination of these securities in one or more offerings, at prices and on terms to be determined prior to the time of the offering, with an aggregate offering price of up to $1,000,000,000,”

the company said in the registration document.

The timing of the offering will depend on regulatory approval and may be subject to change. Meanwhile, shares of JNVR rose nearly 5% during the trading session, signaling investor optimism around Solana. 

Other firms pursuing similar SOL-related initiatives include:

• Sol Strategies 
• Upexi
• Galaxy Digital

Read more: Upexi to Establish $100M Solana Reserve

Treasury Strategy and Validator Plans

DeFi Development’s board of directors has approved a long-term strategy to accumulate Solana, shifting a significant portion of its assets into digital tokens.

“The Company has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to digital assets, starting with Solana. The Board of Directors approved the Company’s new treasury policy on April 4, 2025, authorizing long-term accumulation of Solana,”

the company said in a statement.

Furthermore, the firm plans to launch its own validator nodes, enabling it to earn staking rewards in SOL and reinvest the proceeds into additional token purchases. The approach mirrors the strategy employed by Strategy, the world’s largest corporate BTC holders.

Related: SOL Strategies Unveils Historic $500M Convertible Note Plan to Expand Solana Holdings

Expansion Into Infrastructure Business

DeFi Development’s core business, carried over from its Janover days, focuses on SaaS solutions for commercial real estate financing. Last year, the company began accepting payments in Bitcoin, Ether, and Solana for its services.

The firm’s new technical initiatives include:

• Developing smart contracts
• Integrating Solana network nodes 
• Building an ecosystem for token-backed lending

The shift aims to open access to DeFi products for traditional investors.

Leadership and Funding

In early April, DeFi Development named a group of former Kraken executives to senior leadership roles: 

• Joseph Onorati as CEO and chairman of the board 
• Parker White as chief operating officer and chief investment officer
• John Han as CFO

Additionally, the company secured a convertible credit line of up to $500 million to fund additional investments in Solana. Following the announcement, shares of JNVR climbed to $54 in after-hours trading.

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