DeFi Development Co., ‘MSTR of Solana,’ Files $1B SEC Offering

DeFi Improvement Company — now usually dubbed the “MicroStrategy of Solana” — has filed a $1 billion shelf providing with the U.S. SEC, in keeping with a submitting on Friday.

The transfer reinforces the corporate’s rising give attention to Solana (SOL), with plans to construct a large treasury of the token and run validator nodes on the community.

The corporate, as soon as known as Janover Inc., took an enormous step on April 22, 2025, rebranding as DeFi Improvement Corp to give attention to the crypto business. Together with the brand new identify, it additionally modified its Nasdaq ticker from JNVR to DFDV.

In its SEC filing, DeFi Improvement outlined plans to supply quite a lot of securities, together with widespread and most well-liked inventory, debt devices, and warrants, with the overall providing capped at $1 billion. A shelf providing provides DeFi Improvement the pliability to subject these securities over time, somewhat than suddenly.

Notably, the corporate additionally included a proposal to register as much as 1,244,471 shares of widespread inventory for resale by current shareholders, linked to a earlier financing spherical by which DeFi Improvement raised $41.95 million by means of convertible notes.

Funding a brand new crypto Treasury Technique

The corporate intends to make use of the web proceeds from the providing for normal company functions, strongly emphasizing buying Solana (SOL) tokens as a part of its newly adopted treasury technique.

“We intend to make use of the web proceeds from the sale of any securities provided beneath this prospectus primarily for normal company functions, together with the acquisition of Solana,” the corporate famous within the submitting.

On April 4, 2025, the corporate’s board accredited a brand new treasury coverage, formally making Solana the principle digital asset in its reserves. As said within the SEC submitting, the corporate plans to build up SOL and incorporate it into its core operations.

As of now, DeFi Improvement holds round $48.2 million value of SOL, together with latest staking rewards, and plans to develop this quantity considerably.

DeFi Improvement’s plan to stockpile Solana has been likened to Michael Saylor’s technique with MicroStrategy, the place he turned the corporate’s treasury into Bitcoin. However DeFi Improvement goes even additional. As a substitute of simply holding onto Solana, the corporate can be working Solana validators. This permits the corporate to stake its SOL and assist safe the community, turning its holdings into one thing that works for them.

In accordance with a report from Coinbase, the corporate has already raised $42 million by means of convertible debt to fund its preliminary Solana purchases. Coinbase described the corporate as doubtlessly turning into the primary main company SOL whale, echoing MicroStrategy’s transformative position within the Bitcoin area.

The development is already being dubbed “Solana MSTR” by elements of the crypto neighborhood.

DeFi Improvement’s pivot into crypto started final yr when it began accepting Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as funds for its providers. Initially targeted on SaaS options for business property debt financing, the agency introduced in former Kraken executives earlier this yr to steer its crypto transition.

The management overhaul seems to be bearing fruit, with the corporate’s inventory (JNVR, quickly to be DFDV) gaining practically 5% on the day of the announcement.

With the brand new treasury coverage in place, a major shelf providing filed, and validator operations within the works, DeFi Improvement Corp is betting massive on Solana — and hopes to reshape its future round it.