BOCA RATON, FL—DeFi Development Corp. (Nasdaq: DFDV) released its 2025 Year in Review, detailing the company’s first year as a public Solana treasury vehicle. The report describes how the company evolved from a rebranded entity into one of the world’s largest and most innovative Solana-focused treasuries, leveraging capital-market innovation, on-chain yield strategies, and validator operations to drive performance.
During nine months, DFDV raised about $378 million, surpassed 2 million SOL in treasury holdings, launched its own validator operation, and introduced a liquid staking token (dfdvSOL) while tokenizing its equity (DFDVx). It also advanced capital-market innovation in the digital-asset treasury sector with a $5 billion Equity Line of Credit (ELOC), public warrants (DFDVW), and a preferred stock offering.
As a result, the company ended 2025 as the top-performing crypto stock of the year and the Nasdaq’s third-best performer, delivering an 853% return. The Year in Review highlights milestones such as expansion into global markets, the launch of community and ecosystem validators with partners like BONK and WIF, a Nasdaq Closing Bell ceremony with the Solana Foundation, and forward-looking SOL Per Share guidance targeting 1.0 SPS by December 2028.
DeFi Development Corp. has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the company provides investors with direct economic exposure to SOL, while actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, the company operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The company is also engaged across DeFi opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.
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