Defi Development Corp (JNVR), formerly known as Janover, added another $ 9.9 million in Solana’s sun to its business box and pushed the total crypto holdings to 317,273 sun or about $ 48 million, the company said Wednesday.
The purchase made through Bitgo’s desk over-the-counter includes a tranche of locked sun. These are symbols that are typically bound to earnings or bankruptcy proceedings that cannot yet go on a chain, but are cheaper than spot prices.
“By accessing locked warehouse through a trusted partner as Bitgo, we are able to accumulate some of our sun under market prices while elaborating on our adaptation to the Solana ecosystem,” CEO Joseph Onorati said in a statement.
Janover, which was renamed Defi Development earlier this week, began as a property data and software business, but has changed to position itself as the US public company, which offers direct exposure to the Solana ecosystem for investors through its balance. The pivot happened after a group of former leaders of the Crypto Exchange Kraken, including Onorati, acquired a majority share in the company this month.
The company noted that with the latest purchase, each of the company’s 1.5 million outstanding shares now represents 0.22 solar, an increase of 40% from previous information.
Companies have bought sun to give Tradfi investors exposure to the token, and this trend has gained momentum recently. SOL strategies, the listed company helped by CEO Leah Wald-Former’s co-founder of Digital Asset Manager Valkyrie Investments-Turn Movement. Earlier today, the company announced that it had secured up to $ 500 million convertible note facility to increase its investments in the Solana network.
Read more: Janover takes side from Saylor Playbook that doubles Sol Stack to $ 20m as the stock rises 1700%
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