DeFi Development Adds $9.9 Million In Solana Tokens Underscoring Its Commitment Towards Digital Asset Treasury Strategy
DeFi Growth Company (previously Janover) (NASDAQ:JNVR) introduced on Wednesday that it’s going to buy roughly 65,305 Solana (CRYPTO: SOL) tokens.
Following the transaction, DeFi Growth Company now holds roughly 317,273 SOL, valued at $48.2 million, together with staking rewards. Different metrics embody:
Complete Shares Excellent: Roughly 1.5M
SOL per share (SPS): 0.22, valued at $32.88 per share.
SOL/share progress (SPS progress vs. final buy): 40%.
A portion of the Solana acquired contains locked SOL sourced by way of BitGo’s OTC desk, which facilitates purchases from institutional sellers topic to time-based unlock schedules.
Any tokens acquired by means of this program can be held on a long-term foundation and staked to generate native yield.
Locked SOL refers to tokens held underneath contractual restrictions, sometimes from vesting schedules, bankruptcies, enterprise allocations, or project-specific lockups.
These tokens can’t be transferred on-chain till their unlock interval expires, however can nonetheless be purchased and bought over-the-counter between certified events.
“This can be a clear instance of the strategic execution we have constructed our treasury technique round,” mentioned Joseph Onorati, Chief Government Officer of DeFi Growth Company. “By having access to locked discounted stock by means of a trusted associate like BitGo, we’re capable of accumulate a few of our SOL under market costs whereas deepening our alignment with the Solana ecosystem.”
On Tuesday, Janover modified its company title to DeFi Growth Company, reflecting its evolution right into a crypto treasury car designed for public market investors. The corporate will change its ticker to the image “DFDV” on the Nasdaq at a future date.
Final week, in April, Janover introduced the acquisition of 80,567 Solana, valued at approximately $10.5 million. This buy marks the third execution underneath its newly adopted digital asset treasury technique. This buy brings Janover’s complete Solana holdings to 163,651.7, valued at roughly $21.2 million.
In April, Janover bought roughly $4.6 million Solana, marking the primary execution underneath its newly adopted digital asset treasury strategy.
The corporate will instantly start staking its SOL place, producing income whereas supporting the Solana community. This marks the primary allocation of capital from the corporate’s not too long ago accomplished $42 million financing spherical.
On Wednesday, DeFi Growth (or Janover) appointed Fei “John” Han as Chief Monetary Officer and Dan Kang as Head of Investor Relations. The brand new appointments underscore the corporate’s dedication because it scales its crypto-forward treasury strategy.
