Solana treasury firm DDC earns $63K daily from 1.3M SOL stash

DeFi Development Corp. (DFDV) now holds over 1.3 million Solana (CRYPTO:SOL) tokens, valued at nearly $250 million, according to its latest shareholder letter.

The firm acquired more than 4,500 SOL in the first two weeks of August alone.

CEO Joseph Onorati reported the company’s SOL Per Share (SPS) rose 47% since June, with July marking one of its fastest growth periods after raising $165 million in net capital.

DDC’s model mirrors other crypto treasury strategies but leverages Solana’s staking rewards to generate additional income.

The company estimates a 10% Annualised Organic Yield from its validator and staking business, equating to roughly $63,000 per day in SOL-denominated revenue.

In July, DDC closed a $122.5 million convertible debt raise led by Cantor Fitzgerald.

Quarterly revenue surged to $1.98 million from $400,000 a year ago, while net income hit $15.4 million versus an $800,000 loss last year.

The firm expanded its validator network, added third-party delegation, and grew its share of Solana network rewards.

Founded by former Kraken executives, DDC has a validator agreement with the exchange and also operates validators for Solana-based memecoins like Dogwifhat, sharing staking income with the community.

DDFV shares rose 18% to $17.84 in Tuesday’s session and gained another 6% after hours.

At the time of reporting, Solana price was $198.04.