Stock prices skyrocket by an unprecedented 842% following Janover's declaration of a Solana-centric treasury strategy.
Janover Rebrands as DeFi Development Corporation, Focuses on Solana
Janover Inc., a publicly traded software company, announced on Monday that it has been acquired by a group of former Kraken executives. The new owners aim to transform the real estate data platform into a Solana-focused entity, rebranding it as DeFi Development Corporation.
The company's new strategy centers on acquiring Solana's SOL token as its principal treasury holding. This move, in essence, creates a public market vehicle for Solana exposure, akin to MicroStrategy's Bitcoin holdings.
The announcement triggered a surge in Janover's stock, with shares reaching as high as 1,000% during trading on Monday, closing with an impressive 842.5% gain for the day.
Following the acquisition, Janover will acquire validators - computers that help verify transactions on the Solana network - and stake its SOL holdings to generate additional yield. This approach forms a "flywheel for long-term accumulation and ecosystem participation," as stated by Joseph Onorati, the new CEO appointed by the acquiring group.
The company has raised approximately $42 million through convertible notes and warrants from well-known crypto venture capital firms such as Pantera Capital, Kraken, and Arrington Capital, among others.
With the new leadership team in place, Marco Santori, former Kraken's Chief Legal Officer, will join Janover's board. Blake Janover, the company's founder, and other key members will maintain their positions.
The new management team plans to begin acquiring SOL "immediately," according to Onorati, with a transparent, methodical, and Solana ecosystem-aligned approach. The convertible notes issued to raise funds carry a 2.5% annual interest rate, payable quarterly, and mature in April 2030.
Janover appears to be the first U.S. public company to adopt a Solana-focused treasury strategy, paving the way for potential institutional interest in Solana exposure. While the company's core real estate data platform will continue to operate, it is expected to eventually shift toward a Software-as-a-Service (SaaS) model.
Though Solana has outperformed many major cryptocurrencies since January, it has experienced a more significant drop compared to Bitcoin in 2025, highlighting potential volatility in the new strategy.
The transformation of Janover into DeFi Development Corporation represents a strategic move to capitalize on the growth potential of Solana and the broader DeFi sector, offering investors a simplified, public-market exposure to these evolving markets.
Investors looking to gain exposure in the Solana ecosystem now have a new avenue, as Janover, rebranded as DeFi Development Corporation, announces its new strategy of acquiring Solana's SOL token and staking it for additional yield. This shift, similar to MicroStrategy's approach with Bitcoin, is set to create a public market vehicle for Solana, further developing the cryptocurrency's finance and technology sector.
