DeFi Development Corp Secures $5B Equity Line to Expand Solana Holdings

DeFi Development Corp., a Nasdaq-listed blockchain firm, locked in a $5 billion equity line of credit (ELOC) with RK Capital Management LLC. The goal is to grow its Solana (SOL) treasury and increase its influence within the network’s validator ecosystem. 

The company, formerly known as Janover, is among the first public firms to focus exclusively on Solana as a treasury and yield-generating strategy.

Rather than issuing shares all at once, DeFi Development will gradually sell equity when market conditions are favorable. This avoids heavy dilution and gives the company full control over when and how capital is raised.

Capital Strategy Designed for Market Flexibility

The strategic share purchase agreement with RK Capital isn’t a one-time fundraising deal. It allows DeFi Development to raise capital gradually, up to $5 billion, by selling shares at optimal times. That’s key in crypto markets, where volatility is the norm.

Traditional fundraising locks in a single price and usually results in a large stock issuance. The ELOC model changes that. It lets DeFi Development deploy capital over time, reducing the risk of issuing shares during market downturns. 

According to CEO Joseph Onorati:

“This is a clean, strategic path to continue growing SOL per share and compounding validator yield.”

The agreement will activate once the company files an effective Form S-1 registration with the U.S. Securities and Exchange Commission (SEC). This step is required to allow RK Capital to legally resell the shares it acquires.

From Real Estate to Blockchain-Native Strategy

DeFi Development shifted its focus from a real estate SaaS business to a crypto-native treasury model. The firm rebranded in April after a leadership overhaul led by former Kraken executives. Since then, the company has focused on building its SOL reserves and strengthening the network by running validators.

The firm already holds more than 609,000 SOL tokens—worth roughly $97 million based on current prices. Through validator staking and delegation, these tokens generate ongoing yield. The company aims to grow its SOL holdings per share, using validator rewards to build long-term value.

This shift mirrors the strategy pioneered by public companies like Strategy, which famously built a massive Bitcoin reserve. However, while most firms favor BTC, DeFi Development is doubling down on Solana.

Why Solana?

Solana has emerged as a top contender among Layer-1 blockchains due to its low fees, fast transaction speeds, and growing ecosystem of applications. DeFi Development sees it not just as a growth asset but as infrastructure for staking-based income.

By increasing SOL holdings and expanding validator operations, the firm aims to offer institutional investors a new way to gain exposure to blockchain income streams. And unlike typical crypto holdings that sit idle, staked SOL generates consistent returns, reinforcing the company’s long-term strategy.

ELOC Model Aligns Fundraising with Market Momentum

The $5 billion equity line allows DeFi Development to raise funds during favorable market conditions, maximizing capital efficiency. This limits unnecessary dilution of shareholder value and aligns funding with growth milestones.

The move places DeFi Development among a growing number of public companies adding crypto to their balance sheets.