DeFi Development Corp., a publicly listed firm focused on Solana-based treasury strategies, announced on June 12 that it has secured access to a $5 billion credit facility. The funding aims to increase its SOL reserves and enhance its SOL Per Share (SPS) metric.
The capital will be provided through a share purchase agreement with RK Capital Management LLC. As part of the deal, DeFi Development will issue and sell common stock over time. Access to the funds is contingent on regulatory steps, including submitting a Form S-1 registration to the U.S. Securities and Exchange Commission.
Funding Strategy
Instead of raising funds through a single, fixed-price offering, the company has adopted a capital-on-demand model. This approach enables the firm to gradually utilize the credit line, aligning capital deployment with favorable market conditions.
The firm’s CEO, Joseph Onorati, described the deal as a “clean, strategic path” for expanding SOL per share and compounding validator yield. He emphasized that the arrangement offers the flexibility needed to scale efficiently without being locked into market prices during volatile periods.
The move reinforces DeFi Development’s broader commitment to the Solana ecosystem. In April, the company became the first U.S. public firm to adopt a Solana-based treasury model following its acquisition by a group of former Kraken executives.
Expanding SOL Holdings and Validator Activity
Formerly known as Janover, a real estate software provider, the firm rebranded and pivoted toward blockchain infrastructure and staking. Its strategy centers on acquiring SOL and participating in validator operations to generate staking rewards and delegation fees.
This dual role as both a liquidity provider and infrastructure participant supports Solana’s decentralization. It also gives shareholders access to blockchain-native yield exposure.
As of mid-May, DeFi Development had acquired 609,190 SOL, including a purchase of 16,447 SOL for $2.3 million on May 15. At current prices, its holdings are valued at nearly $90 million.
The company states that the newly secured credit facility will enable expansion of this position. It also aims to strengthen Solana’s broader ecosystem by reinforcing validator activity and boosting network participation.
SOL trades at approximately $144 at the time of writing, reflecting a nearly 10% drop in the past 24 hours amid a broader market downturn.
Ephraim Emmanuel | June 16, 2026
