DeFi Development’s Solana Treasury Hits $250M: But What’s Driving It?
The post DeFi Development’s Solana Treasury Hits $250M: But What’s Driving It? appeared on BitcoinEthereumNews.com. TLDR DeFi Development Corp increased its Solana treasury to more than 1.3 million tokens worth nearly $250 million. The company purchased over 4,500 SOL in the first two weeks of August. CEO Joseph Onorati reported that SOL Per Share rose by more than 47% since June. The firm raised $165 million in July and achieved a 34 percent month-over-month increase in SPS. DeFi Development Corp completed a $122.5 million convertible debt raise led by Cantor Fitzgerald. DeFi Development Corp increased its Solana treasury to more than 1.3 million tokens, valued at nearly $250 million. The firm disclosed in a shareholder letter that it purchased over 4,500 SOL in early August. Moreover, it reported that the Solana treasury generates about $63,000 per day in SOL-denominated revenue. CEO Joseph Onorati said the company’s Solana treasury growth reflected strategic execution and investor demand. “Today, our SOL Per Share is 0.0619, representing an increase of over 47% from June,” he wrote. He emphasized that the token’s staking rewards make it a more productive asset than bitcoin. The company noted that July was one of its fastest periods of accretive growth. It raised $165 million in capital net of fees. Furthermore, it achieved a 34% month-over-month rise in SPS during the same period. Capital Raises Strengthen Solana Treasury Position In July, DeFi Development Corp completed a $122.5 million convertible debt raise led by Cantor Fitzgerald. This capital directly increased the size of its Solana treasury. The company continues to expand its validator operations to maximize staking returns. According to the shareholder letter, the firm uses “Annualized Organic Yield” (AOY) to assess validator and staking performance. Based on its current Solana treasury, it estimates an AOY of 10%. This translates into consistent SOL-denominated earnings from network participation. Onorati explained that validator operations are a core part…
The post DeFi Development’s Solana Treasury Hits $250M: But What’s Driving It? appeared on BitcoinEthereumNews.com.
TLDR DeFi Development Corp increased its Solana treasury to more than 1.3 million tokens worth nearly $250 million. The company purchased over 4,500 SOL in the first two weeks of August. CEO Joseph Onorati reported that SOL Per Share rose by more than 47% since June. The firm raised $165 million in July and achieved a 34 percent month-over-month increase in SPS. DeFi Development Corp completed a $122.5 million convertible debt raise led by Cantor Fitzgerald. DeFi Development Corp increased its Solana treasury to more than 1.3 million tokens, valued at nearly $250 million. The firm disclosed in a shareholder letter that it purchased over 4,500 SOL in early August. Moreover, it reported that the Solana treasury generates about $63,000 per day in SOL-denominated revenue. CEO Joseph Onorati said the company’s Solana treasury growth reflected strategic execution and investor demand. “Today, our SOL Per Share is 0.0619, representing an increase of over 47% from June,” he wrote. He emphasized that the token’s staking rewards make it a more productive asset than bitcoin. The company noted that July was one of its fastest periods of accretive growth. It raised $165 million in capital net of fees. Furthermore, it achieved a 34% month-over-month rise in SPS during the same period. Capital Raises Strengthen Solana Treasury Position In July, DeFi Development Corp completed a $122.5 million convertible debt raise led by Cantor Fitzgerald. This capital directly increased the size of its Solana treasury. The company continues to expand its validator operations to maximize staking returns. According to the shareholder letter, the firm uses “Annualized Organic Yield” (AOY) to assess validator and staking performance. Based on its current Solana treasury, it estimates an AOY of 10%. This translates into consistent SOL-denominated earnings from network participation. Onorati explained that validator operations are a core part…
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