DeFi Development Corporation (DFDV), formerly known as Janover (JNVR), has expanded its Solana (SOL) holdings by acquiring an additional 82,404 SOL tokens, bringing its total holdings to 400,091 SOL.
At SOL’s current price of $143, the company’s total holdings are now valued at more than $57 million.
The newly acquired tokens include locked SOL, which were purchased via BitGo’s over-the-counter (OTC) desk, according to a press release. These tokens are temporarily restricted from being moved on-chain until they are unlocked, though they remain tradable over-the-counter between institutions, the company stated.
DFDV has also revealed plans to stake these tokens in order to generate yield. This acquisition follows the company’s earlier purchase of a validator operation earlier this week. The firm intends to use this new acquisition to self-stake its entire SOL treasury, aiming to generate protocol-native cashflow.
Shares of DeFi Development Corporation saw a 3.8% decline in Tuesday morning trading, in line with the 2% decrease in SOL’s price.
