Defi Development, previously known as Janover, is expanding its Solana investment strategy with plans to offer up to $ 1 billion in effects to finance further token acquisitions.
The company previously operated as a commercial real estate loan technology platform. Now, in a recent SEC application, it stated that it is planning to use the supply of the offer for “general business purposes, including the acquisition of Solana.” The plank registration includes financial instruments such as common and preferential stock, debts, warrants and units.
Defi Development has already collected around $ 48.2 million in Solana (SOL) and has plans to operate validators on the Solana Blockchain to generate rewards.
The step from the company to Solana follows a leadership transformation earlier this month. Joseph Onorati, a former Kraken director, has adopted the functions of CEO and chairman. At the same time, Parker White, another Kraken veteran, has adopted the role of Chief Operating Officer and Chief Investment Officer.
John Han, who previously worked at both Binance and Kraken, became a member of CFO. This new leadership team has implemented a Treasury strategy that is focused around Solana as part of the strategic diversion of the company.
To accelerate its investments in the Solana network, the listed company recently obtained a convertible nut facility of a maximum of $ 500 million. In addition to the registration of $ 1 billion plank, Defi Development applies to register 1.24 million shares on behalf of early investors.
This includes prominent crypto venture capital companies Pantera Capital and Arrington Capital and Payward, the parent company of cryptocurrency Exchange Kraken.