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DeFi Development (DFDV), the Nasdaq-listed steadfast pursuing a crypto treasury strategy focused connected Solana (SOL), said connected Tuesday it accrued holdings to astir 1.18 cardinal SOL, worthy astir $218 million.
According to a property merchandise shared with CoinDesk, the institution acquired 181,303 SOL tokens betwixt July 21 and July 28 astatine an mean terms of $155.33 per token, including locked-up assets. The acquisition was funded chiefly done proceeds from its equity enactment of credit, the steadfast said.
The acquisition lifted the firm’s Solana-per-share metric, oregon SPS, by 12% to 0.0575, marking the 2nd consecutive week of double-digit growth. SPS is simply a cardinal measurement for the company,
DeFi Dev Corp. issued astir 975,000 caller shares during the week, raising $20 cardinal and bringing its month-to-date full to $39 cardinal successful recognition enactment proceeds. About $10 cardinal remains earmarked for aboriginal Solana purchases. The institution has tapped little than 1% of its $5 cardinal recognition facility.
The recently acquired tokens volition beryllium staked crossed aggregate validators, including DeFi Dev’s own, to make rewards and compound holdings.
The company, formerly known arsenic existent property tech level Janover, is portion of a increasing inclination of publicly-traded firms raising funds by selling shares and indebtedness to adhd cryptocurrencies connected their equilibrium sheet, pursuing Strategy's playbook with bitcoin (BTC).
Read more: DeFi Development Nears $200M Solana Treasury
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