DeFi Development Corp. (NASDAQ:DFDV), a real-estate software firm and Solana-focused treasury company, announced Monday it has agreed to acquire a Solana validator business with an average delegated stake of 500,000 SOL ( $75.5 million) for $3.5 million.
The deal, which will be financed with $3 million in company stock and $500,000 in cash, will enable the Boca Raton-based firm to directly validate transactions on the Solana network and integrate its staking rewards into the company's revenue streams.
The acquired validator will be rebranded under DeFi Dev Corp., and all of the company's Solana will be self-staked through the validator. In total, the company holds 37,273 SOL, which is valued at $47.9 million, according to Monday's announcement.
The move will align the company more closely with Solana's core infrastructure and increase its ability to accumulate more Solana.
“Having and operating validators with a significant delegated stake puts us at the heart of Solana. This acquisition will generate protocol-native cashflow and is expected to yield superior risk-adjusted returns compared to simply holding SOL,” said Parker White, chief investment and operating officer.
DeFi Dev Corp. began disclosing a strategy to invest in Solana in 2025. The company is focused on providing investors with exposure to the L1 ecosystem in a transparent manner.
As of the second quarter, SOL was the company's main treasury reserve asset, according to the company's latest earnings report.
DeFi Development Corp. is also the parent company of REfactor, a software firm that serves more than one million users annually in commercial real estate.
Its platform provides property owners, lenders and developers with AI-powered data and insights for multifamily and commercial debt financing.
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