DeFi Development Corporation (formerly Janover) (NASDAQ:JNVR) announced on Wednesday that it will purchase approximately 65,305 Solana (CRYPTO: SOL) tokens.

Following the transaction, DeFi Development Corporation now holds approximately 317,273 SOL, valued at $48.2 million, including staking rewards. Other metrics include:

• Total Shares Outstanding: Approximately 1.5M
• SOL per share (SPS): 0.22, valued at $32.88 per share.
• SOL/share growth (SPS growth vs. last purchase): 40%.

A portion of the Solana acquired includes locked SOL sourced via BitGo's OTC desk, which facilitates purchases from institutional sellers subject to time-based unlock schedules.

Any tokens acquired through this program will be held on a long-term basis and staked to generate native yield.

Locked SOL refers to tokens held under contractual restrictions, typically from vesting schedules, bankruptcies, venture allocations, or project-specific lockups.

These tokens cannot be transferred on-chain until their unlock period expires, but can still be bought and sold over-the-counter between qualified parties.

"This is a clear example of the strategic execution we've built our treasury strategy around," said Joseph Onorati, Chief Executive Officer of DeFi Development Corporation. "By gaining access to locked discounted inventory through a trusted partner like BitGo, we're able to accumulate some of our SOL below market prices while deepening our alignment with the Solana ecosystem."

On Tuesday, Janover changed its corporate name to DeFi Development Corporation, reflecting its evolution into a crypto treasury vehicle designed for public market investors. The company will change its ticker to the symbol “DFDV” on the Nasdaq at a future date.

Last week, in April, Janover announced the purchase of 80,567 Solana, valued at approximately $10.5 million. This purchase marks the third execution under its newly adopted digital asset treasury strategy. This purchase brings Janover’s total Solana holdings to 163,651.7, valued at approximately $21.2 million.

In April, Janover purchased approximately $4.6 million Solana, marking the first execution under its newly adopted digital asset treasury strategy.

The company will immediately begin staking its SOL position, generating revenue while supporting the Solana network. This marks the first allocation of capital from the company's recently completed $42 million financing round.

On Wednesday, DeFi Development (or Janover) appointed Fei “John” Han as Chief Financial Officer and Dan Kang as Head of Investor Relations. The new appointments underscore the company’s commitment as it scales its crypto-forward treasury strategy.

Former CFO Bruce Rosenbloom will remain with the company as EVP of Finance.

Price Action: JNVR stock is up 24.80% at $55.98 at the last check Wednesday.

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This article EXCLUSIVE: DeFi Development Adds $9.9 Million In Solana Tokens Underscoring Its Commitment Towards Digital Asset Treasury Strategy originally appeared on Benzinga.com

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