- Chez accounts will increase from 2 million to 14 million.
- The company rebranded from Janover Inc. is currently trading as DFDV.
- We acquired the Validator business with 500,000 SOL stakes.
Defi Development Corp., formerly known as Janover Inc., ran a 7-1 stock split on May 20th, expanding its outstanding shares from 2 million to over 14 million.
The move followed a dramatic pivot on the Solana blockchain, leading to a staggering 1,700% rally at stock prices for just a month.
The company, currently trading under Ticker DFDV on NASDAQ, has rebranded and rebuilt its business model around Crypto infrastructure.
The split says it will improve liquidity and make stocks more accessible to investors as it will increase diversified operations across the blockchain sector and the validator economy.
Solana Pivot drives market surge
The Florida-based real estate software company entered the digital asset space in April with a financial strategy focused on the long-term Solana accumulation.
Shortly thereafter, it was rebranded as Defi Development Corp., indicating a permanent shift towards blockchain assets and operations.
The NASDAQ listed stock, which was traded modestly under Janover, exploded in value after the announcement.
DFDV fell 3% on Wednesday at $79.31, but it was pullback after a surge in stock prices that rose more than 1,700% in a few weeks.
The company said at X it has been split to increase liquidity and accessibility for investors interested in decentralized infrastructure projects.
Recent performance has attracted considerable attention from participants in both the institutional and retail markets.
Validator Acquisition and SOL Reserve
Defi Dev Corp. strengthened Solana's focus through two major steps. You've won a validator business with 500,000 Sol in delegated stocks, bought over 400,000 Sol tokens, worth around $58 million.
The $3.5 million activation agreement, paid primarily in restricted stock, was announced one day before the company disclosed additional SoL purchases.
With the acquisition of Validator, Defi Dev Corp. provides access to native cash flows within the Solana Protocol, and token accumulation is heavily weighted to crypto assets, thus solidifying the balance sheet.
Together, the company currently owns over 900,000 SOLs, worth nearly $130 million at current market rates.
Executives noted that the voter infrastructure will further enhance the company's integrity with decentralized protocols and add recurring revenues by ensuring compensation. It also serves as a strategic hedge against future volatility in traditional capital markets.
Stocks are split to increase accessibility
Shareholders in the record as of May 19 will receive six additional shares for each share held by each.
The split will increase the number of shares in circulation to over 14 million, but the company has confirmed it remains its approved share capital.
Stock splits do not affect a company's market capitalization, but are often used to increase trading volume and attract retail profits.
