Defi Development (DFDV), a company registered with NASDAQ that pursues cryptocurrency strategies focused on Solana
said on Tuesday that its holdings worth around $218 million had increased to SOL of about 1.18 million.
According to a press release shared with Coindesk, the company acquired 181,303 Sol Tokens from July 21 to July 28 at an average price of $155.33 per token containing locked assets. The purchase was funded primarily through revenues from its stock credit line, the company said.
The acquisition marked the company's Solana-Solana-Pers-Share-SPS (SPS) up 0.0575 from 12%, achieving double-digit growth for the second consecutive week. SPS is an important measure for your company.
Defi Dev Corp. issued approximately 975,000 shares a week, raising $20 million, resulting in a monthly total of $39 million in credit line revenue. Approximately $10 million remains allocated for future Solana purchases. The company taps under 1% of its $5 billion credit line.
The newly acquired token will be stained with multiple valiters, including Defi Dev itself, generating rewards and compound strains.
Previously known as the real estate technology platform Janover, the company is part of the trend of publicly available companies growing by raising funds by selling stocks and debts to add cryptocurrency to the balance sheet, following its strategy playbook with Bitcoin.
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Read more: Defi Development approaches nearly $200 million Solana Treasury
