Shortly
- Janover has changed its name from DeFi Development Corporation to reflect its dedication to crypto.
- The company added 88.164 SOL on Monday to its Treasury and now holds total Solana assets worth more than $37 million.
- Today, shares of the company have risen 14% and are now up 824% on a year-to date basis.
DeFi Development Corporation will be the new name for AI-powered Real Estate Platform Janover. Following a pivot driven by Solana, this change signals the company’s dedication to crypto.
The Nasdaq will now trade the publicly-traded firm as DFDV. Solana makes another purchase Monday, it added another 88 164 SOL. This purchase increased its holdings total to 251,842 SOL valued at over $37 million today.
The CEO Joseph Onorati made a public statement that said, “This is the beginning of an exciting new chapter in the history of the company.” “Our mission is to bring transparent, crypto-native capital allocation into the public markets—and this name change reflects that commitment.”
Along with a name change, and eventually a ticker switch, the company Launched a New Website The company is committed to providing a deeper insight into the treasury’s actions. This includes a view of its real-time holdings and its purchase history.
The term DeFi (decentralized finance) is used to describe financial platforms, services and protocols built using cryptocurrencies. These are automated protocols without the use of traditional banks or centralized agents.
The company announced two important announcements to investors in April before the change of name. The majority of the shares is acquired The group was formed by former employees at Kraken. They also adopted a policy which makes digital assets their principal holdings in the treasury reserves.
The firm Raise $42 Million Michael Saylor’s Strategy Chairman, and co-founder Michael Saylor popularized the use of convertible notes as a way to boost a company’s treasury. This tactic helped his firm become a successful business. The largest Bitcoin holders publicly listed.
The company’s shares, which are still trading under the ticker JNVR, ended the day at $44.86, up by 14% for the year and 8244% overall. Upexi was another firm which raised money for the Solana Treasury. It experienced a much more dramatic move on Monday. After its announcement, the stock price jumped by more than 335%.
Solana is up 8% on the day to $147 and has now gained by 39% in the last two weeks. It is still 50% below its all-time January high.
Andrew Hayward edited the book
