DeFi Development Corp.

DeFi Development Corp. (DFDV) is a Solana treasury firm that focuses on accumulating and staking Solana (SOL) and Solana-related tokens. Originally a real estate software company known as Janover, it rebranded and pivoted towards crypto after a team of former Kraken executives acquired a majority stake in April 2025. The company is publicly traded on Nasdaq under the ticker DFDV.

DeFi Development Corp. has rapidly grown its Solana holdings, purchasing significant amounts of SOL and running validator services. It uses a model similar to that of corporate bitcoin treasuries, raising capital from investors to fund its acquisitions. The firm aims to enhance shareholder value through its Solana Per Share (SPS) metric, which it uses to measure the performance of its stock relative to the price of SOL.

Recently, DeFi Development Corp. expanded overseas by establishing a subsidiary in the UK, marking it as the first U.S. crypto treasury firm to enter the UK market. This expansion is part of its Treasury Accelerator strategy, designed to grow Solana-focused treasury vehicles globally. The company has also been involved in acquiring Solana validator businesses to support self-staking of its SOL holdings.