Former Janover Inc. Executes 7-for-1 Stock Split After Pivoting to Solana

Following a dramatic shift into the Solana blockchain, which has triggered a staggering 1,700% rally in its share price

DeFi Development Corp., formerly known as Janover Inc. and now trading on Nasdaq under the ticker DFDV, is executing a 7-for-1 stock split on May 20. The move follows a dramatic pivot into the Solana (SOL) blockchain, which has triggered a staggering 1,700% rally in its share price over just one month.

The company, which had been modestly trading in the triple digits, saw its stock skyrocket after it announced in April that it was entering the digital asset space with a treasury strategy focused on long-term Solana accumulation.

Following this announcement, Janover, which developed and sold software to the real estate industry, applied to change its name to DeFi Development Corp., structuring its business model around crypto infrastructure.

The company's shares, previously traded under the ticker 'JNOV', have since been reassigned the ticker DFDV, reflecting the name change and the stock split.

As of Wednesday's close, DFDV stock fell 3% to $79.31. However, this pullback comes after a surge that saw its share price soar more than 1,700% in a matter of weeks.

The Florida-based company stated on X that the split aims to enhance liquidity and broaden accessibility for investors interested in decentralised infrastructure projects. Its recent performance has drawn considerable attention from both institutional and retail market participants.

DeFi Dev Corp.'s Solana focus has been evident in two major steps: acquiring a validator business with 500,000 SOL in delegated stake, and purchasing over 400,000 SOL tokens, valued at around $58 million.

The $3.5 million validator deal, paid largely in restricted stock, was announced one day before the company disclosed the additional SOL purchase. The validator acquisition grants DeFi Dev Corp. access to native cash flow within the Solana protocol, while the token accumulation solidifies its balance sheet as heavily weighted toward crypto assets.

Together, the company now holds more than 900,000 SOL, which is valued at approximately $130 million at current market rates and contributes to a balance sheet with nearly $200 million in total assets.

"This validator infrastructure aligns our company even more closely with decentralised protocols and generates recurring revenue through staking rewards, acting as a hedge against volatility in traditional capital markets," executives noted in a statement.

The company's authorized share capital remains the same despite the increase in the number of shares outstanding due to the stock split.

The stock price will be adjusted accordingly for the split, which is designed to increase trading volume and potentially attract more interest from retail investors.