- DeFi Development Corp raises millions to boost Solana-focused treasury and staking strategy.
- Institutional confidence in Solana grows as firms ramp up token purchases and validator expansion.
DeFi Development Corp (DDC), the first U.S. public firm centered on a Solana [SOL]-focused treasury model, is making waves with its latest financing move.
DeFi Development Corp’s new plan of action
The company has unveiled plans to raise $100 million through a private offering of convertible senior notes maturing in 2030, signaling growing institutional interest in Solana-based strategies.
For context, convertible notes are commonly used in early-stage financing, allowing debt to convert into equity during future funding rounds, offering flexibility to both issuers and investors.
Aimed at qualified institutional buyers under Rule 144A of the Securities Act, the offering also includes an option for an additional $25 million in notes within 13 days of issuance.
With this plan, the firm has the potential to rise to approximately $132.2 million if initial purchasers exercise their full options.
How did Saylor’s Strategy act as a guiding light?
This strategic move mirrors earlier tactics popularized by Strategy, the Bitcoin [BTC]-heavy firm chaired by Michael Saylor, which used similar instruments to amass a sizable BTC treasury.
Notably, Saylor’s “42/42” debt-and-equity financing plan remains a benchmark for crypto-treasury playbooks.
The announcement further added,
“The Company intends to use approximately $75.6 million of the net proceeds from the offering to fund a prepaid forward stock purchase transaction in connection with the offering and the remainder for general corporate purposes, including the acquisition of SOL.”
That being said, the newly issued notes carry a 5.5% annual interest rate, payable semi-annually, and are set to mature in 2030.
They also come with a 10% conversion premium based on DDC’s closing stock price of $21.01 as of 1st July 2025.
Why Solana and not Bitcoin?
Beyond acquiring SOL, DDC also engages in staking operations for both internal and external clients, generating revenue in a model akin to Bitcoin mining.
The firm’s Solana-centric approach stems from the network’s superior speed, cost-efficiency, and scalability, compared to Bitcoin’s store-of-value focus and limited native support for advanced smart contract functionalities.
DeFi Development Corp isn’t alone in its bullish stance on Solana.
Other firms like Sol Strategies, listed in Toronto, have also made sizable moves, filing a $1 billion shelf prospectus to bolster Solana purchases and expand their validator operations.
These developments reflect the rising institutional confidence in Solana’s potential, especially amid the growing push toward real-world asset (RWA) integration.
Market trends
Yet, despite this optimism, DFDV’s stock saw a 2.95% decline over the past 24 hours, trading at $20.39, according to Google Finance.
Meanwhile, Solana itself climbed 3.8% to $154.82, outperforming Bitcoin’s 1.86% gain to $109,769.73, signaling that while investor sentiment remains divided, the network’s momentum in institutional circles continues to build.
