DFDV Seeks $20 Million for Solana Token Holdings

DeFi Development Corp (DFDV) has announced plans to raise up to $20 million through a public offering of Series C perpetual preferred stock. The funds will be used to increase their holdings in SOL tokens and finance related crypto investments.

The company specializes in managing treasury assets within the Solana ecosystem, and this move is aimed at providing institutional access to Solana with leverage through treasury yield. According to CEO Joseph Onorati, the business model focuses on providing investors with such access.

DFDV will establish a special reserve fund to cover payments for the first 12 months, backed by fiat, traditional financial instruments, or digital assets. The offering will be organized by investment firm R.F. Lafferty & Co.