DeFi Development Corp. increases stock buyback plan to 100 million USD

DeFi Development Corp. (#DFDV ), a publicly listed treasury management company for Solana, has seen its stock price rise after announcing a significant increase in its stock buyback program, from 1 million USD to 100 million USD. The goal of this program is to enhance Solana-per-share (SPS) growth in the long term.

Opportunities from low valuation

The decision to buy back shares by DFDV is driven by the fact that the company's valuation is below the market net asset value (mNAV), with an mNAV ratio under 1. Currently, DFDV holds approximately 452 million USD in Solana value in its treasury, while its market capitalization is only 395 million USD. COO and CIO Parker White stated that the company wants the flexibility to execute buybacks when the mNAV drops significantly below 1 for an extended period.

Expanding the ecosystem #solana

Since rebranding from Janover to DFDV to focus on digital assets, the company has actively strengthened its position in the Solana ecosystem. DFDV has acquired an operating validator business for Solana, collaborated with the memecoin BONK, launched its own liquid staking token, and established a credit line of 5 billion USD to fund future Solana purchases.

With 2,095,748 SOL on the balance sheet, DFDV is the second-largest publicly listed treasury management company for Solana in the world. Although the price $SOL has recently declined somewhat, DFDV's actions are seen as an effort to create value for shareholders from the disparity between the crypto asset value and the company's own market capitalization.