DeFi Development Corporation
DeFi Development Corporation (Nasdaq: DFDV) is a publicly traded Solana-focused Digital Asset Treasury that accumulates and compounds SOL for public-market investors through validator operations, the dfdvSOL liquid staking token, tokenized DFDVx equity, and a Treasury Accelerator franchise expanding into the UK, Japan, and Korea.
- Company typePublic
- Founded2025
- HeadquartersBoca Raton, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What DeFi Development Corporation does
DeFi Development Corporation (Nasdaq: DFDV) is a publicly traded Solana-focused Digital Asset Treasury (DAT) and capital-markets platform headquartered in Boca Raton, Florida. The company was created through the April 2025 rebrand of Janover Inc. (formerly Nasdaq: JNVR), a commercial real estate SaaS business that was acquired by crypto industry leaders and pivoted to accumulate and compound Solana (SOL) on behalf of public-market shareholders. As of June 2026, DFDV held approximately 2,294,576 SOL on its balance sheet (~$157.8M in SOL NAV), operates proprietary Solana validator infrastructure including a dedicated dogwifhat validator node, and reports a Fully Converted mNAV of 0.91x with SOL Per Share (SPS) of 0.0670 (up 108% year-over-year).
The company's product surface spans (1) the core DFDV equity (Nasdaq, Frankfurt Stock Exchange, Trade Republic, and tokenized DFDVx on Kraken xStocks, Gate.io, and MEXC), (2) the proprietary dfdvSOL liquid staking token integrated across eight Solana DeFi protocols with ~5.73% annualized yield, (3) the DFDV Treasury Accelerator franchise model with regional subsidiaries in the UK, Japan, and Korea, and (4) research products including the DFDV Model and the 'Every Agent Needs a SOL' agentic-AI demand report. Capital is raised through a mix of at-the-market (ATM) equity programs ($200M in May 2026), a $5B Equity Line of Credit with RK Capital Management, convertible notes ($42M in April 2025), and a warrant distribution (~$87.7M potential proceeds). DFDV reported Q1 fiscal 2026 revenue of $4.49M with Q1 digital asset treasury income of $2.4M, while the legacy Janover Capital Markets and Janover Insurance businesses were wound down in April 2026. The company employs 11-50 people and is led by Chairman and CEO Joseph Onorati, with Parker White (COO/CIO) departing in June 2026 to focus on the Apyx project.
DeFi Development Corporation firmographics
Firmographics- Name
- DeFi Development Corporation
- Legal name
- DeFi Development Corporation
- Website
- https://defidevcorp.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- DeFi Development Corporation (Nasdaq: DFDV) is a publicly traded Solana-focused Digital Asset Treasury that accumulates and compounds SOL for public-market investors through validator operations, the dfdvSOL liquid staking token, tokenized DFDVx equity, and a Treasury Accelerator franchise expanding into the UK, Japan, and Korea.
- Ownership category
- akta.pro rank
DeFi Development Corporation industry classification
Industry- Product category
- Digital Asset Treasury
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990), Other Financial Vehicles (52599)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
- akta.pro secondary industries
- DAO Treasury, Governance & On-Chain Finance Tools (FSADAMAL), DeFi Asset Management & On-Chain Index Protocols (FSADAMAK), Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Liquidity Management & Market-Making Protocols (FSADAMAH)
Keywords
Where DeFi Development Corporation is headquartered
LocationHeadquarters
- HQ city
- Boca Raton
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
DeFi Development Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Staking & Validator Rewards: Native staking rewards and block rewards generated from operating Solana validator infrastructure across the company's own validators and third-party validators. Validator metrics show monthly SOL rewards of 303 (~3,640 annualized) and monthly USD rewards of $22,376 ($268,515 annualized).
- Digital Asset Treasury Income: Income generated from SOL treasury holdings, including staking yields, DeFi deployment income (Solstice YieldVault, Loopscale, Hylo), and capital appreciation. Q1 fiscal 2026 digital asset treasury income of $2.4 million reported.
- Commercial Real Estate SaaS (Legacy Janover Business): Subscription-based software platform connecting commercial real estate industry participants. Provides data and software services to property professionals; historical revenue grew 442% in FY 2025. Legacy Janover Capital Markets and Janover Insurance businesses being wound down.
- Strategic Equity Investment Gains (Treasury Accelerator Program): Capital appreciation and operational involvement from strategic equity investments in Solana ecosystem projects and Treasury Accelerator subsidiaries (e.g., Allied Architects in Japan, DFDV UK, DFDV Japan, DFDV Korea).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | DFDV equity traded via public markets (Nasdaq: DFDV), Frankfurt Stock Exchange, Trade Republic, and onchain via DFDVx tokenized equity on Kraken xStocks. |
| Unit Pricing | Pay-as-you-go | dfdvSOL liquid staking token with dynamic exchange rate (1.086 dfdvSOL/SOL) and 5.73% annualized yield. |
Go-to-market motion4 records
DeFi Development Corporation product offering
Product offeringCore offering
DeFi Development Corporation is the first NASDAQ-listed Digital Asset Treasury (DAT) designed to accumulate and compound Solana (SOL), providing public-market investors with amplified, compounding exposure to SOL growth. The company executes this strategy through capital-markets activity (ATM equity programs, a $5B Equity Line of Credit with RK Capital, convertible notes, and warrant distributions), proprietary Solana validator operations, a proprietary liquid staking token (dfdvSOL), onchain DeFi yield strategies deployed across Solana-native protocols, and a Treasury Accelerator franchise program with international arms in the UK, Japan, and Korea.
Product overview
DeFi Development Corporation (Nasdaq: DFDV) operates a single integrated Solana Digital Asset Treasury business that is a platform-plus-modules architecture: at the core is the DFDV Nasdaq-listed treasury vehicle designed to accumulate and compound Solana (SOL), surrounded by onchain sub-products and operational modules that drive SOL-per-share (SPS) growth. Sub-products include the proprietary dfdvSOL liquid staking token (LST), the DFDVx tokenized equity (issued on Solana via Kraken's xStocks), the DFDV Treasury Accelerator franchise program (with international arms DFDV UK, DFDV Japan, DFDV Korea), and DFDV's own Solana validator infrastructure (including a dedicated dogwifhat validator). Capital-markets and research modules — the Apex leverage initiative, the DFDV Model ('SOL & the Digital City') valuation framework, and the 'Every Agent Needs a SOL' Agentic AI research report — complement the treasury core. DFDV also retains the legacy Janover commercial real estate SaaS platform (Janover Connect, Janover Insurtech, and AI-powered search/voice tools), now being wound down as the company focuses on its Solana treasury strategy. External integrations span Solana DeFi (Sanctum, Jupiter, Drift, Kamino, Orca, Exponent, RateX, Fragmetric, Hylo, Solstice YieldVault, Loopscale) and tokenized-equity trading venues (Gate.io, Kraken, MEXC), with market-data feeds from CoinGecko, Polygon.io, Dune Analytics, and Sanctum powering the investor dashboard.
Differentiator
Problem solved
Functional benefit
Brands
- DFDVx: Tokenized equity of DFDV stock on the Solana blockchain, available through Kraken's xStocks platform, Gate.io, MEXC, and others.
- dfdvSOL
- DFDV Treasury Accelerator
Products and services
- DFDV (Nasdaq: DFDV) — Solana Digital Asset Treasury The company's core product: a NASDAQ-listed (and Frankfurt-listed) Digital Asset Treasury vehicle designed to accumulate and compound Solana (SOL), providing public-market investors with direct, amplified exposure to SOL growth through capital-markets activity, validator operations, and onchain DeFi strategies.
- DFDVx Tokenized Equity Tokenized version of DFDV common stock issued on the Solana blockchain in partnership with Kraken (xStocks), making DFDV the first U.S.-listed crypto treasury strategy to trade onchain. Tradeable on Gate.io, Kraken, MEXC, Orca, and Jupiter.
- dfdvSOL Liquid Staking Token (LST) DFDV's proprietary liquid staking token on Solana, representing staked SOL plus accrued rewards, with ~5.73% annualized yield. Integrated across Solana DeFi (Sanctum, Jupiter, Drift, Kamino, Orca, Exponent, RateX, Fragmetric) for composable treasury and ecosystem use.
- DFDV Treasury Accelerator Program Strategic franchise model that supports global Solana asset management — extending DFDV's treasury strategy internationally via localized subsidiaries (DFDV UK, DFDV Japan, DFDV Korea) and strategic equity investments (e.g., Allied Architects in Japan).
- DFDV Solana Validator Infrastructure DFDV-operated Solana validator nodes that earn native staking rewards and block rewards to grow SOL per share (SPS). Includes a dedicated dogwifhat (WIF) validator node via partnership with the WIF community.
- Dogwifhat Validator Node A dedicated Solana validator node operated by DeFi Development Corp. for the dogwifhat (WIF) memecoin community, with block rewards split equally between DFDV and the community after expenses.
- RateX Yield Integration for dfdvSOL Integration of dfdvSOL with RateX (Solana yield trading platform) enabling three yield strategies: Yield Trading, Earn Fixed Yield, and Yield Liquidity Farming.
- Loopscale Vault & Lending Integration Deployment of DFDV's SOL and stablecoin reserves into Loopscale's lending and vault ecosystem, with stablecoin lending currently offering yields exceeding 11%, plus participation in Loopscale's Points rewards program.
- Solstice YieldVault Onchain Treasury Yield Institutional-grade, delta-neutral YieldVault on Solana (~$300M TVL across 24,000+ holders) used by DFDV to generate onchain treasury yield through funding-rate arbitrage, hedged staking, and tokenized U.S. Treasury bills.
- Hylo Yield Farming Integration Deployment of part of DFDV's SOL treasury into Hylo's Solana-native DeFi yield strategies to generate treasury income that funds operations and increases SOL per share.
- Apyx Dividend-Backed Stablecoin Strategic Investment Strategic investment in Apyx, a Dividend-Backed Stablecoin protocol designed to integrate dividend streams from public-company preferred equity into onchain yield and introduce yield into the stablecoin market.
- Allied Architects (Japan) Strategic Investment Strategic equity investment in Tokyo-based Allied Architects, Inc. (Tokyo Stock Exchange Growth Market), the first publicly listed Japanese company to receive a DFDV Treasury Accelerator investment, with plans for collaboration on digital asset management and capital markets initiatives under Japan's regulatory framework.
Companies that use DeFi Development Corporation
Customer profileIdeal customer profiles2 records
DeFi Development Corporation technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration23 records
AI capability11 records
Feature6 records
DeFi Development Corporation partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core, flagship / core and minor.
- BitGocoreBitGo's OTC desk facilitated DFDV's access to locked discounted SOL inventory from institutional sellers for the company's third SOL acquisition. Provides institutional-grade custody and OTC trading infrastructure for SOL accumulation.
- Krakenflagship / coreStrategic partnership to list DFDV's tokenized stock (DFDVx) on Solana via Kraken's xStocks platform, making DFDV the first U.S.-listed crypto treasury strategy to trade onchain. The tokenized equity is also available on Kraken alongside Apple, Tesla, and Nvidia.
- SolsticecoreDFDV deployed part of its onchain treasury into Solstice's institutional-grade YieldVault, becoming the first Nasdaq-listed company to utilize Solstice's delta-neutral yield infrastructure for digital asset treasury management. Yield generated through funding rate arbitrage, hedged staking, and tokenized U.S. Treasury bills. Solstice manages ~$300M TVL across 24,000+ holders.
- LoopscalecoreLetter of Intent signed November 18, 2025 to deploy a portion of DFDV's SOL and stablecoin reserves into Loopscale's lending and vault ecosystem, with stablecoin lending currently offering yields exceeding 11%. DFDV also participates in Loopscale's Points rewards program.
- HylocorePartnership with Solana-native DeFi protocol Hylo to deploy part of DFDV's SOL treasury into yield-generating strategies. Hylo grew to over $100 million TVL within four months with annualized fees exceeding $6 million. Yield earned funds DFDV operations, increases SOL holdings, and supports share-related obligations.
- Allied Architectsflagship / coreStrategic equity investment announced April 21, 2026 in Tokyo-based Allied Architects, Inc. (Tokyo Stock Exchange Growth Market), the first publicly listed Japanese company to receive such an investment. Plans include collaboration on digital asset management, capital markets initiatives, and joint marketing activities under Japan's regulatory framework.
- ApyxcoreStrategic investment announced February 26, 2026 in Apyx, a Dividend-Backed Stablecoin protocol that integrates dividend streams from public companies' preferred equity into onchain yield. DFDV hosted X Spaces discussion on Apyx protocol, tokenomics, and valuation.
- dogwifhat memecoin communityminorValidator partnership announced June 24, 2025 where DeFi Dev Corp. operates a dedicated dogwifhat validator node providing infrastructure and technical operations, with rewards split equally after expenses. Includes an application to the Solana Foundation Delegation Program.
- RateXcoreStrategic integration enabling DFDV's liquid staking token dfdvSOL to access three new yield strategies on Solana's yield trading platform: Yield Trading, Earn Fixed Yield, and Yield Liquidity Farming.
- Amber International HoldingcoreExisting partnership for treasury acquisitions and structured products supporting DFDV's SOL accumulation strategy.
- Frankfurt Stock Exchange (FWB)coreDual listing achieved June 3, 2025 on the Frankfurt Stock Exchange (FWB) and Trade Republic (Germany's largest online brokerage), providing European investors direct access to DFDV shares as part of the company's capital markets strategy.
- Trade RepubliccoreDFDV made available for trading on Trade Republic, Germany's largest online brokerage, as part of European market debut on June 3, 2025.
- Gate.iominorListing of DFDVx tokenized equity on Gate.io exchange (DFDVX_USDT trading pair).
- MEXCminorListing of DFDVx tokenized equity on MEXC exchange (DFDVX_USDT trading pair).
- CoinGeckominorListing of DFDVx tokenized equity on CoinGecko price-tracking platform.
- CoinMarketCapminorListing of DFDVx tokenized equity on CoinMarketCap price-tracking platform.
- Wolf & CompanycoreIndependent registered public accounting firm ratified by DeFi Development Corp. shareholders at the December 18, 2025 Annual Meeting as auditor of the company.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
DeFi Development Corporation competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
DeFi Development Corporation social profiles
Digital presenceDeFi Development Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
DeFi Development Corporation leadership team
Management profileNumber of profiles
Profiles8 records
DeFi Development Corporation subsidiaries and ownership
Company hierarchySubsidiaries4 records
DeFi Development Corporation funding detail
Funding detailFunding overview
Funding rounds9 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DeFi Development Corporation M&A and investment
M&A and investmentM&A1 record
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DeFi Development Corporation
What does DeFi Development Corporation do?
DeFi Development Corporation is the first NASDAQ-listed Digital Asset Treasury (DAT) designed to accumulate and compound Solana (SOL), providing public-market investors with amplified, compounding exposure to SOL growth. The company executes this strategy through capital-markets activity (ATM equity programs, a $5B Equity Line of Credit with RK Capital, convertible notes, and warrant distributions), proprietary Solana validator operations, a proprietary liquid staking token (dfdvSOL), onchain DeFi yield strategies deployed across Solana-native protocols, and a Treasury Accelerator franchise program with international arms in the UK, Japan, and Korea.
Is DeFi Development Corporation a public or private company?
DeFi Development Corporation is a public company. It is classified as public and is currently operating.
When was DeFi Development Corporation founded?
DeFi Development Corporation was founded in 2025. It employs 11 to 50 people.
Where is DeFi Development Corporation based?
DeFi Development Corporation is headquartered in Boca Raton, United States, in the North America region.
How does DeFi Development Corporation make money?
Four revenue lines are on record. Staking & Validator Rewards are the primary driver. The others are digital Asset Treasury Income, commercial Real Estate SaaS (Legacy Janover Business) and strategic Equity Investment Gains (Treasury Accelerator Program).
Does DeFi Development Corporation have an API?
No public API is recorded for DeFi Development Corporation.
What industry is DeFi Development Corporation in?
DeFi Development Corporation's product category is Digital Asset Treasury. Its primary akta.pro industry code is FSADAHAL, Treasury Management & Corporate Crypto Yield Programs, with a secondary code of FSADAMAL, DAO Treasury, Governance & On-Chain Finance Tools. Its NAICS code is 525 and its SIC code is 6199.