"Solana's top treasury" DFDV surges post-earnings, with significant growth in coin accumulation and staking business
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"Solana's top treasury" DFDV surges post-earnings, with significant growth in coin accumulation and staking business
DFDV, focused on the Solana cryptocurrency, released its Q2 financial report.
Navigating Web3 tides with focused insightsAuthor: Bobo Yilong, Wall Street Insights
DeFi Development (DFDV), the first U.S. publicly traded company with a treasury strategy centered on Solana, is gaining market recognition through its aggressive SOL accumulation strategy and strong staking yields.
On Tuesday, DFDV, focused on the Solana cryptocurrency, released its Q2 financial results. The company achieved earnings per share of $0.84 and revenue of $1.97 million in the second quarter. As of August 11, DFDV held over 1.3 million SOL tokens, valued at nearly $250 million, with its staking operations expected to generate approximately $63,000 in daily returns denominated in SOL.
The key metric "SOL per Share" (SPS) surged 47% compared to June 30, reaching 0.0619. The company maintains its long-term targets of achieving an SPS of 0.165 by June 2026 and 1.000 by December 2028, representing a 167% increase from current levels.
Additionally, DFDV introduced a new metric, "Annualized Organic Yield" (AOY), to measure staking asset performance, projecting this figure to remain around 10% over the next 12 months. CEO Joseph Onorati stated:
DFDV is not just a SOL accumulation vehicle, but also a bridge connecting DeFi and traditional finance.
On Tuesday, buoyed by mild U.S. July CPI data that boosted risk appetite in the stock market, the company's share price rose 18.30% during regular trading to $17.84, and climbed over 12% further after-hours following the release of its Q2 results.
Dual Growth in SOL Holdings and Staking Yields
DFDV’s financial report shows that its core strategy—accumulating and compounding SOL—is progressing steadily.
In July, DFDV raised $165 million in net capital and completed a $122.5 million convertible bond financing led by Cantor Fitzgerald, with a conversion price of approximately $23.11 per share. These transactions provided ample funding for further SOL acquisitions.
Alongside rapid fundraising, the company’s key metric “SOL per Share” (SPS) saw significant growth. In July, SPS increased 34% month-over-month, one of the fastest growth periods in company history. SPS rose 47% from June 30 to reach 0.0619.
As of August 11, the company’s SOL holdings reached 1.3017 million, worth nearly $250 million at current market prices. In just the first two weeks of August, the company added over 4,500 SOL, further expanding its income-generating asset base.
To measure the performance of its on-chain operations, the company introduced a new metric called “Annualized Organic Yield” (AOY), designed to track comprehensive returns generated from treasury staking, third-party delegated staking, and on-chain activities.
The company expects AOY to remain around 10% over the next twelve months, although actual results may vary due to network dynamics.
Differentiated Positioning Aimed at Long-Term Growth
Since launching its new strategy in April 2025, DFDV has been committed to carving out a differentiated path distinct from traditional Bitcoin treasury models.
As the first U.S. public company focused on non-Bitcoin crypto assets, management believes its Solana-centric strategy offers stronger fundamentals and superior long-term potential.
DFDV’s strategy goes beyond mere holding, emphasizing deep integration with the Solana ecosystem.
According to the company, its operations include running proprietary validator infrastructure, participating in decentralized finance (DeFi) protocols, and launching a tokenized version of its shares, DFDVx, enabling 24/7 trading and composability with DeFi infrastructure.
Company management emphasized a focus on transparent and sustainable growth, avoiding excessive leverage and highly speculative assets.
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