DeFi Development Corp. (NASDAQ: DFDV), a former real estate software firm now focused on building a Solana-centric treasury, saw its stock surge to a new all-time high following a series of strategic Solana (SOL) purchases and a groundbreaking partnership with Bonk (BONK), Solana’s leading meme coin. The stock climbed over 50% on Friday, May 16, trading at approximately $138.77, with a year-to-date increase of over 3,133%, reflecting robust investor confidence in the company’s crypto-forward strategy.
The company, previously known as Janover Inc., announced the acquisition of 16,447 SOL tokens on May 15 at an average price of $139.66, totaling $2.3 million, pushing its total Solana holdings to 609,190 SOL, valued at over $107 million. This follows a $23.6 million purchase of 172,670 SOL on May 12 and an $11.2 million buy of 82,404 SOL earlier in May, bringing its treasury to one of the largest Solana holdings among publicly traded companies. DeFi Development’s aggressive treasury strategy aims to provide shareholders direct exposure to the Solana ecosystem, with all acquired tokens staked to validators, including its own, to generate yield.
Adding to the momentum, DeFi Development unveiled a historic partnership with Bonk, a Solana-based meme coin with a $1.8 billion market cap and over 920,000 token holders, to co-manage a Solana validator node. This collaboration, announced – the first between a public company and a major community meme coin – aims to enhance validator operations and boost community engagement within the Solana ecosystem. The partnership also integrates Bonk’s liquid staking token, BONKSOL, to strengthen Solana’s decentralized infrastructure.
“This validator partnership is a natural next step in Bonk’s mission to empower our community and accelerate the adoption of Solana,” said Nom, a core contributor at Bonk. “By teaming up with DeFi Development Corp., we’re not only reinforcing Solana’s decentralized infrastructure but also creating a new standard for how community tokens can scale.”
Parker White, CIO and COO of DeFi Development Corp., added, “We’re excited to partner with Bonk, a uniquely powerful force within the Solana ecosystem. This collaboration allows us to support one of the most dynamic communities in Web3 while advancing our mission to maximize SOL per share for DFDV shareholders.”
The market response was swift, with DFDV shares surging 74% following the Bonk announcement, driven by optimism around Solana’s growing adoption in DeFi, payments, and tokenization. The company’s pivot to Solana, which began in April after a group of former Kraken executives acquired a majority stake, has fueled a 2,800% stock rally since the rebrand from Janover. Additionally, DeFi Development’s acquisition of a Solana validator business for $3.5 million in May and a 7-for-1 stock split further boosted liquidity and investor access.
Despite Bonk’s price dipping 4% on Friday, the meme coin retains a 70% gain over the past month, underscoring its influence within Solana’s ecosystem. DeFi Development’s strategy, likened to MicroStrategy’s Bitcoin accumulation, positions it as a leading public-market vehicle for Solana exposure, with plans to raise $1 billion to further expand its treasury.
About DeFi Development Corp.
DeFi Development Corp. (NASDAQ: DFDV) is a publicly traded company focused on accumulating Solana (SOL) through its treasury policy, offering investors economic exposure to the Solana ecosystem. Formerly Janover Inc., the company has shifted its focus to Solana validator operations and strategic SOL holdings.
NOTE: This article contains forward-looking statements involving risks and uncertainties. Markets and instruments profiled are for informational purposes only and should not be considered a recommendation to buy or sell these assets.
