TLDR:
- DeFi Dev Corp tops 11.4% AOY, beating guidance and major crypto peers.
- SPS jumps 13% QoQ as SOL holdings hit 2.2M amid treasury gains.
- Onchain Solana strategy lifts yields via looped staking innovation.
- Treasury Accelerator launches in UK, Korea, and Japan for growth.
- DFDV eyes steady 10% AOY ahead, fueling long-term shareholder value.
DeFi Development Corp.(DFDV) shares closed at $8.36, up 0.36% during regular trading day.
DeFi Development Corp., DFDV
DeFi Development Corp. recorded a solid performance in the third quarter of 2025 as its shares closed at $8.36, up 0.36%. The company achieved an annualized organic yield (AOY) of 11.4%, exceeding its 10% guidance level. This performance outpaced yields offered by leading platforms such as Coinbase and BSOL ETF.
The company reported an adjusted net income of approximately $59 million, translating into an adjusted earnings-per-share of $1.88. It expanded its SOL-per-Share (SPS) by 13% quarter over quarter, reaching 0.0700. Despite a 41% decline in fully diluted mNAV, management maintained focus on accelerating SOL accumulation through yield-driven growth.
The company emphasized that its treasury strategy continues to compound SOL holdings efficiently without relying solely on new capital inflows. With 2.2 million SOL and 31.4 million shares outstanding, DeFi Dev Corp. remains committed to maximizing shareholder value through consistent SPS expansion. This growth model differentiates the firm within the digital asset treasury (DAT) sector.
Onchain Deployment and Yield Innovation on Solana
DeFi Dev Corp. expanded its onchain footprint, deploying over 15% of its SOL treasury across Solana DeFi protocols. This increase from 10% last quarter enabled higher yield generation through optimized capital deployment. The company executed a looped staking strategy that enhanced net interest margin by over 100 basis points.
Using its dfdvSOL token as collateral on Kamino, the firm borrowed SOL and restaked it, eliminating liquidation risk. This method enhanced organic yield while maintaining balance sheet safety and SOL exposure. The approach highlights DFDV’s engineering-led yield strategy within Solana’s ecosystem.
The company continues to position itself as a major liquidity provider, leveraging Solana’s expanding total value locked (TVL) that now exceeds $10 billion. With Jupiter and Kamino leading protocol growth, DFDV’s $344 million treasury reinforces its strategic importance across Solana’s DeFi landscape. These actions strengthen both the company’s returns and the network’s ecosystem.
Treasury Accelerator and Global Expansion Plans
The firm launched regional franchises in the United Kingdom, Korea, and Japan through its Treasury Accelerator program. The initiative enables local teams to develop Solana-based DATs aligned with favorable market and regulatory conditions. Each franchise aims to contribute to net asset value growth and enhance long-term revenue streams.
DFDV retains equity stakes and management roles within these ventures, ensuring global brand consistency and governance alignment. The program broadens global SOL demand while reinforcing DFDV’s leadership position in DeFi treasury management. It is expected to expand shareholder value through compounding SPS across international markets.
DeFi Dev Corp. projects continued double-digit yields as Solana adoption accelerates. The firm expects AOY to average around 10% for the remainder of the year. Overall, its strategy combines strong financial discipline, innovative yield mechanisms, and international expansion to sustain long-term crypto treasury growth.
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