BOCA RATON, FL, July 03, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. DFDV (the “Company”) the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), announced today the purchase of 17,760 Solana (“SOL”) at an average purchase price of $153.10 and valued at approximately $2.72 million. Following the transaction, DeFi Development Corp. now holds a total of approximately 640,585 SOL and SOL equivalents, valued at approximately $98.1 million, inclusive of staking rewards.

Below is a summary of DeFi Dev Corp’s current SOL position and key per-share metrics as of July 3, 2025:

• Total SOL & SOL Equivalents Held: 640,585
• Total SOL & SOL Equivalents Held (USD): approximately $98.1 million
• Total Shares Outstanding: 14,740,779
• SOL per Share (“SPS”): 0.042
• SPS (USD): $6.65

The total shares outstanding is as of our last public filing on June 24, 2025. The most recently purchased SOL will be held long-term and staked to a variety of validators, including DeFi Dev Corp.’s own Solana validators to generate native yield.

The Company will continue to provide suitable updates to our Treasury and underlying strategies, through public releases and regulatory filing(s), as available.

About DeFi Development Corp.

DeFi Development Corp. DFDV has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).

Forward-Looking Statements This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:

ir@defidevcorp.com

Media Contact:

Prosek Partners

pro-ddc@prosek.com

BOCA RATON, FL, July 03, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. (Nasdaq: DFDV) (the “Company”) the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), announced today the purchase of 17,760 Solana (“SOL”) at an average purchase price of $153.10 and valued at approximately $2.72 million. Following the transaction, DeFi Development Corp. now holds a total of approximately 640,585 SOL and SOL equivalents, valued at approximately $98.1 million, inclusive of staking rewards.

Below is a summary of DeFi Dev Corp’s current SOL position and key per-share metrics as of July 3, 2025:

• Total SOL & SOL Equivalents Held: 640,585
• Total SOL & SOL Equivalents Held (USD): approximately $98.1 million
• Total Shares Outstanding: 14,740,779
• SOL per Share (“SPS”): 0.042
• SPS (USD): $6.65

The total shares outstanding is as of our last public filing on June 24, 2025. The most recently purchased SOL will be held long-term and staked to a variety of validators, including DeFi Dev Corp.’s own Solana validators to generate native yield.

The Company will continue to provide suitable updates to our Treasury and underlying strategies, through public releases and regulatory filing(s), as available.

About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).

Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:
ir@defidevcorp.com

Media Contact:
Prosek Partners
pro-ddc@prosek.com

BounceBit has announced its plans to launch tokenized stock products in the fourth quarter of 2025, marking a significant expansion into various global securities markets. The initiative will cover securities from the United States, Europe, and Japan, leveraging BounceBit’s proprietary Tokenized Stock Environment (TSE) framework. This framework is designed to issue, price, and integrate securities in permissionless markets, enhancing liquidity, accessibility, and efficiency in the financial markets.

The integration of tokenized stocks with DeFi features is a key aspect of this launch. Users will be able to engage in spot trading, provide liquidity on decentralized exchanges (DEXs), use tokenized stocks as collateral in lending agreements, and apply them in structured income strategies. This integration allows for the creation of new financial products and services that were previously impossible, such as using tokenized stocks as collateral in lending protocols, enabling users to borrow against their holdings without selling them. This not only provides liquidity but also allows investors to maintain their exposure to the underlying assets.

The market response to this development has been notable, with social media channels abuzz with discussions. Official comments emphasized the initial integration plans into the DeFi framework, aligning with broader market interest in similar innovations. The launch signifies a substantial progress in DeFi composability, incorporating tokenized stocks into various financial instruments. This move is expected to attract a broader range of investors and financial institutions, further solidifying BounceBit’s position as a pioneer in the CeDeFi space.

BounceBit’s approach differs from past projects like Synthetix, which offered synthetic exposure but lacked the combination of actual asset backing and full DeFi functionality. The extensive use of DeFi-native elements in BounceBit’s tokenized stock products might shape future market behaviors, suggesting a shift toward deeper financial decentralization. However, regulatory ambiguities, especially in the U.S., remain a challenge that could influence the adoption and integration of these products.

In summary, BounceBit’s plan to launch tokenized stock products in the fourth quarter of 2025 represents a major development in the CeDeFi and decentralized finance sectors. By integrating traditional financial instruments with blockchain technology, BounceBit is paving the way for a more efficient, accessible, and innovative financial ecosystem. The launch of these products is expected to attract a wide range of investors and financial institutions, further cementing BounceBit’s leadership in the CeDeFi space.

BOCA RATON, FL, July 02, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. DFDV (the “Company” or “DeFi Dev Corp.”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today released its June 2025 Shareholder Letter and Business Update.

To read the full update, please visit: https://defidevcorp.com/investor.

A video update featuring CEO Joseph Onorati, CFO John Han, COO & CIO Parker White, and Head of Investor Relations Dan Kang will be uploaded to youtube.com/DeFiDevCorp tomorrow, July 3, 2025, at approximately 8:00 a.m. Eastern Time. Management will address strategic highlights and take questions submitted in advance by both retail investors and sell-side analysts.

For more information, visit defidevcorp.com. To stay up-to-date with the latest developments and insights, subscribe to our blog.

About DeFi Development Corp.

DeFi Development Corp. DFDV has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).

Investor Contact:

ir@defidevcorp.com 

Media Contact:

Prosek Partners 

pro-ddc@prosek.com 

BOCA RATON, FL, July 02, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. (Nasdaq: DFDV) (the “Company” or “DeFi Dev Corp.”), the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced the pricing of its upsized private offering of $112.5 million aggregate principal amount of 5.5% convertible senior notes due 2030 (the “Convertible Notes”), to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

Key Elements of the Transaction:

• $112.5 million 5.5% Convertible Notes offering, due 2030
• Approximately 10% conversion premium to the $21.01 closing price on July 1, 2025
• Prepaid forward stock purchase transaction of approximately $75.6 millions of shares of the Company’s common stock in connection with the offering to facilitate hedging by certain investors. 

The Company has granted the initial purchasers of the Convertible Notes an option to purchase, for settlement within a 7-day period beginning on, and including the date on which the Convertible Notes are first issued, up to an additional $25 million aggregate principal amount of the Convertible Notes. The offering is expected to close on July 7, 2025, subject to satisfaction of customary closing conditions.

Use of Proceeds:

The Company estimates that the aggregate net proceeds from the offering will be approximately $108.1 million (or approximately $132.2 million if the initial purchasers exercise in full their option to purchase additional notes), after deducting the initial purchasers’ discounts and commissions and the Company’s estimated offering expenses. The Company intends to use approximately $75.6 million of the net proceeds from the offering to fund a prepaid forward stock purchase transaction in connection with the offering and the remainder for general corporate purposes, including the acquisition of SOL.

Additional Details of the Convertible Notes:

The Convertible Notes will be senior unsecured obligations of the Company and will accrue interest at a rate of 5.5% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2026. The Convertible Notes will mature on July 1, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to July 1, 2030, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the Convertible Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

The Convertible Notes will be convertible into cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, subject to certain restrictions. The conversion rate will initially be 43.2694 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $23.11 per share of common stock). The initial conversion price of the Convertible Notes represents a premium of approximately 10% to the $21.01 closing price per share of the common stock on The Nasdaq Capital Market on July 1, 2025. The conversion rate will be subject to adjustment in certain circumstances. In addition, upon conversion in connection with certain corporate events or a notice of redemption, the Company will increase the conversion rate.

The Company may not redeem the Convertible Notes prior to July 5, 2026. The Company may redeem for cash all or any portion of the Convertible Notes (subject to certain limitations), at its option, on or after July 5, 2026, if the last reported sale price of the common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption to holders at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

Holders of the Convertible Notes will have the right to require the Company to repurchase all or a portion of their Convertible Notes upon the occurrence of a fundamental change (as defined in the indenture governing the Convertible Notes) at a cash repurchase price of 100% of their principal amount plus accrued and unpaid interest, if any, to, but excluding the applicable repurchase date.

Prepaid Forward Stock Purchase Transaction:

In connection with the pricing of the Convertible Notes, the Company entered into a privately negotiated prepaid forward stock purchase transaction (the “prepaid forward”) with one of the initial purchasers of the Convertible Notes (the “forward counterparty”) with respect to $75,636,000 of shares of common stock, initially equal to approximately 3,600,000 million shares of common stock.

The prepaid forward is generally intended to facilitate privately negotiated derivative transactions, including swaps, between the forward counterparty or its affiliates and investors in the Convertible Notes, enabling those investors to hedge their investments in the Convertible Notes. As a result, the prepaid forward is expected to allow the investors to establish short positions that generally correspond to (but may be greater than) commercially reasonable initial hedges of their investment in the Convertible Notes. In the event of such greater initial hedges, investors may offset such greater portion by purchasing shares of common stock on the day the Company prices the Convertible Notes. In connection with establishing its initial hedges of the prepaid forward, the forward counterparty or its affiliates generally expect to, but are not required to, enter into one or more derivative transactions with respect to shares of common stock with the investors of the Convertible Notes concurrently with or after the pricing of the Convertible Notes. Such activities, which may occur on or shortly after the pricing date of the Convertible Notes, could have the effect of increasing (or reducing the size of any decrease in) the market price of the shares of common stock and effectively raise the conversion price of the Convertible Notes.

Neither the Company nor the forward counterparty will control how investors of the Convertible Notes may use such derivative transactions, and any related market activity could result in more purchases or sales of common stock than there otherwise would have been, potentially impacting the market price of common stock and/or the price of the Convertible Notes.

In addition, the forward counterparty or its affiliates may modify its hedge positions by entering into or unwinding one or more derivative transactions with respect to shares of common stock and/or purchasing or selling shares of common stock or other securities of the Company in secondary market transactions at any time following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes. These activities could also cause or avoid an increase or a decrease in the market price of common stock or the Convertible Notes, which could affect the ability to convert the Convertible Notes and, to the extent the activity occurs following conversion or during any observation period related to a conversion of Convertible Notes, it could affect the amount and value of the consideration that noteholders will receive upon conversion of the Convertible Notes.

About DeFi Development Corp.

DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to Solana (SOL). Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer. The Company also operates an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 regarding, among other things, the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering, the intended use of proceeds, and the prepaid forward stock purchase program. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are based on the current expectations and beliefs of the Company’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including risks related to the satisfaction of the closing conditions for the proposed offering, and other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:
ir@defidevcorp.com 

Media Contact:
Prosek Partners
pro-ddc@prosek.com 

BOCA RATON, FL, July 02, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. DFDV (the “Company” or “DeFi Dev Corp.”), the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced the pricing of its upsized private offering of $112.5 million aggregate principal amount of 5.5% convertible senior notes due 2030 (the “Convertible Notes”), to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

Key Elements of the Transaction:

• $112.5 million 5.5% Convertible Notes offering, due 2030.
• Approximately 10% conversion premium to the $21.01 closing price on July 1, 2025.
• Prepaid forward stock purchase transaction of approximately $75.6 million of shares of the Company’s common stock in connection with the offering to facilitate hedging by certain investors.

The Company has granted the initial purchasers of the Convertible Notes an option to purchase, for settlement within a 7-day period beginning on, and including the date on which the Convertible Notes are first issued, up to an additional $25 million aggregate principal amount of the Convertible Notes. The offering is expected to close on July 8, 2025, subject to satisfaction of customary closing conditions.

Use of Proceeds:

The Company estimates that the aggregate net proceeds from the offering will be approximately $108.1 million (or approximately $132.2 million if the initial purchasers exercise in full their option to purchase additional notes), after deducting the initial purchasers’ discounts and commissions and the Company’s estimated offering expenses. The Company intends to use approximately $75.6 million of the net proceeds from the offering to fund a prepaid forward stock purchase transaction in connection with the offering and the remainder for general corporate purposes, including the acquisition of SOL.

Additional Details of the Convertible Notes:

The Convertible Notes will be senior unsecured obligations of the Company and will accrue interest at a rate of 5.5% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2026. The Convertible Notes will mature on July 1, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to July 1, 2030, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the Convertible Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

The Convertible Notes will be convertible into cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, subject to certain restrictions. The conversion rate will initially be 43.2694 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $23.11 per share of common stock). The initial conversion price of the Convertible Notes represents a premium of approximately 10% to the $21.01 closing price per share of the common stock on The Nasdaq Capital Market on July 1, 2025. The conversion rate will be subject to adjustment in certain circumstances. In addition, upon conversion in connection with certain corporate events or a notice of redemption, the Company will increase the conversion rate.

The Company may not redeem the Convertible Notes prior to July 5, 2026. The Company may redeem for cash all or any portion of the Convertible Notes (subject to certain limitations), at its option, on or after July 5, 2026, if the last reported sale price of the common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption to holders at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

Holders of the Convertible Notes will have the right to require the Company to repurchase all or a portion of their Convertible Notes upon the occurrence of a fundamental change (as defined in the indenture governing the Convertible Notes) at a cash repurchase price of 100% of their principal amount plus accrued and unpaid interest, if any, to, but excluding the applicable repurchase date.

Prepaid Forward Stock Purchase Transaction:

In connection with the pricing of the Convertible Notes, the Company entered into a privately negotiated prepaid forward stock purchase transaction (the “prepaid forward”) with one of the initial purchasers of the Convertible Notes (the “forward counterparty”) with respect to $75,636,000 of shares of common stock, initially equal to approximately 3,600,000 million shares of common stock.

The prepaid forward is generally intended to facilitate privately negotiated derivative transactions, including swaps, between the forward counterparty or its affiliates and investors in the Convertible Notes, enabling those investors to hedge their investments in the Convertible Notes. As a result, the prepaid forward is expected to allow the investors to establish short positions that generally correspond to (but may be greater than) commercially reasonable initial hedges of their investment in the Convertible Notes. In the event of such greater initial hedges, investors may offset such greater portion by purchasing shares of common stock on the day the Company prices the Convertible Notes. In connection with establishing its initial hedges of the prepaid forward, the forward counterparty or its affiliates generally expect to, but are not required to, enter into one or more derivative transactions with respect to shares of common stock with the investors of the Convertible Notes concurrently with or after the pricing of the Convertible Notes. Such activities, which may occur on or shortly after the pricing date of the Convertible Notes, could have the effect of increasing (or reducing the size of any decrease in) the market price of the shares of common stock and effectively raise the conversion price of the Convertible Notes.

Neither the Company nor the forward counterparty will control how investors of the Convertible Notes may use such derivative transactions, and any related market activity could result in more purchases or sales of common stock than there otherwise would have been, potentially impacting the market price of common stock and/or the price of the Convertible Notes.

In addition, the forward counterparty or its affiliates may modify its hedge positions by entering into or unwinding one or more derivative transactions with respect to shares of common stock and/or purchasing or selling shares of common stock or other securities of the Company in secondary market transactions at any time following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes. These activities could also cause or avoid an increase or a decrease in the market price of common stock or the Convertible Notes, which could affect the ability to convert the Convertible Notes and, to the extent the activity occurs following conversion or during any observation period related to a conversion of Convertible Notes, it could affect the amount and value of the consideration that noteholders will receive upon conversion of the Convertible Notes.

About DeFi Development Corp.

DeFi Development Corp. DFDV has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to Solana (SOL). Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer. The Company also operates an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 regarding, among other things, the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering, the intended use of proceeds, and the prepaid forward stock purchase program. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are based on the current expectations and beliefs of the Company’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including risks related to the satisfaction of the closing conditions for the proposed offering, and other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:

ir@defidevcorp.com

Media Contact:Prosek Partners

pro-ddc@prosek.com 

Key takeaways:

• Solana now offers a mobile-first developer toolkit with wallet adapters, transaction helpers and templates.

• Developers can use React Native to build iOS and Android apps simultaneously.

• Deep-link wallet connections (e.g., Phantom, Backpack) eliminate the need for custom back-end integrations.

• Apps can fetch balances, NFTs and even trigger swaps or mints using Solana RPC directly.

• Open-source tools like Solana Mobile App Kit allow zero-infrastructure deployments.

Building decentralized applications (DApps) used to be complex, especially for mobile. Developers had to juggle back-end services, manage wallet integrations and deal with cross-platform quirks, but in 2025, that’s changed.

With the introduction of the Solana Mobile App Kit, React Native tooling and the SEND Kit ecosystem, it’s now possible to build a Solana-based mobile DApp for iOS and Android in under 15 minutes, without writing a single line of back-end code.

This guide breaks down how to build a mobile DApp that connects to Solana wallets, displays assets, enables basic DeFi actions like token swaps and runs entirely onchain. Let’s explore how it works and why this approach is fast becoming the new standard for Web3 mobile app development.

Why build Solana mobile apps in 2025?

Solana has seen massive developer growth, especially in consumer and DeFi apps. With mobile-first usage on the rise, builders now demand toolkits that streamline wallet connectivity, UI rendering and onchain interactions, without back-end dependencies.

Solana’s mobile tooling is designed to work out of the box with native mobile platforms and doesn’t require bootstrapping custom infrastructure. Developers can focus on features, UX and shipping fast. The Solana Mobile App Kit and React Native integration together provide:

• Prebuilt wallet adapters and deep link support.

• Mobile-ready components for NFTs, balances and tokens.

• Seamless support for iOS and Android with a single codebase.

Whether you are building an NFT marketplace, a DeFi portfolio tracker or even a meme token launcher, Solana’s mobile stack offers speed and flexibility.

Tools needed to build a Solana mobile DApp

Here’s the current stack developers can use to ship fast:

• React Native: For cross-platform app development.

• Solana Mobile App Kit: Mobile SDK featuring Solana-native components.

• Wallet Adapter (React Native): Enables plug-and-play wallet connectivity.

• SEND Kit: Provides app templates for NFTs, tokens and DeFi use cases.

• @solana/web3.js: Interfaces with Solana RPC endpoints and handles transactions.

• Phantom/Backpack Wallets: Mobile wallets supporting deep link integration.

With this stack, developers don’t need to worry about infrastructure, back-end databases or user authentication flows; the wallet takes care of it.

Did you know: Solana App Kit, developed by the Send ecosystem, offers one-command mobile app scaffolding with deep wallet integration, swaps, NFT minting, AI components and over 18 protocol integrations, right out of the box. 

Step-by-step guide to building a Solana mobile DApp 

Here’s how to do it, step by step:

Step 1: Set up your mobile app project

Start by initializing a new React Native app. You can use Solana AppKit’s CLI tool to scaffold a fully working mobile DApp in one command:

npx start-solana-app

This sets up a cross-platform iOS and Android app with preconfigured Solana wallet support, RPC tools and basic UI components.

Step 2: Integrate wallet login using deep links

Instead of building a login system, integrate with wallets like Phantom and Backpack via deep links using the Wallet Adapter for React Native. This allows users to connect and sign transactions securely via deep links without any back end.

Besides deep linking, Solana also offers a native Mobile Wallet Adapter (MWA) protocol with React Native libraries (@solana-mobile/mobile-wallet-adapter-protocol-web3js) for direct wallet communication.

Step 3: Fetch balances, NFTs and tokens

After wallet connection, use @solana/web3.js to query the user’s account info, including SOL balance, SPL tokens and NFTs. All of this happens on the client side by connecting directly to a Solana RPC endpoint.

Step 4: Trigger onchain actions like swaps or mints

Solana AppKit comes with support for DeFi and NFT protocols like Jupiter, Metaplex and Pump.fun. You can easily let users swap tokens, mint NFTs or launch memecoins via built-in modules that submit transactions through the wallet adapter.

Step 5: Deploy your app to iOS and Android

Use React Native’s toolchain (npx react-native run-ios or run-android) to build and test your app. The Solana Ecosystem Native Development (SEND) Kit offers modular app templates, all designed for rapid customization and deployment, such as:

These templates let developers focus on design and UX while handling blockchain logic under the hood.

Benefits of no-back-end mobile DApps

Building decentralized apps without a back end isn’t just a time-saver; it represents a significant shift in how Web3 apps are architected. The traditional approach relied on centralized services for critical functions like authentication, token metadata and session management. Thanks to wallet adapters and Solana RPC, much of that is no longer necessary.

Let’s break down how this modern architecture compares to the old way of building Web3 apps:

This shift in architecture has several advantages:

• Faster shipping cycles: With no back end to build, deploy or maintain, teams can launch prototypes or production apps in days, not months.

• Lower maintenance overhead: No servers means no infrastructure to patch, monitor or scale.

• Better UX by design: Since wallet login replaces clunky sign-up flows, users can be onboarded with just a tap.

• Improved security: Backend breaches are off the table. Wallets like Phantom and Backpack ensure private keys and session data never touch centralized servers.

• True decentralization: Every interaction, whether it’s minting an NFT, swapping tokens, or reading wallet balances, happens fully onchain, without intermediaries.

This mobile-native, no-back-end approach is especially powerful for DApps where fast finality and low fees are a prime requirement.

Did you know: By building for mobile app users, developers can potentially reach over 6 billion mobile users worldwide; that’s the combined audience of iOS and Android, all without needing separate codebases or back-end infrastructure.

How to scale your Solana mobile app

Once your MVP is ready, you can scale your app by:

• Integrating Solana Pay for in-person or QR-based payments.

• Adding push notifications for transaction events.

• Supporting Face ID or biometric security.

• Using open analytics tools for onchain engagement tracking.

• Expanding support for additional wallets using Wallet Adapter’s modular setup.

• Adding dark mode, offline viewing or multilingual support using React Native libraries.

From memecoins to NFT mints and DeFi tools, mobile-first blockchain experiences are becoming the norm. If you’re a developer or startup founder eyeing Web3, now’s the time to go mobile.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Solana has introduced a new mobile-first developer toolkit that is set to revolutionize the way blockchain applications are built. This toolkit enables the rapid creation of cross-platform mobile decentralized applications (DApps) with integrated wallet support and onchain functionality. By leveraging React Native and deep-link wallet connections, developers can bypass the complexities of traditional back-end infrastructure, streamlining the development process for both iOS and Android platforms simultaneously.

The Solana Mobile App Kit provides developers with prebuilt wallet adapters, transaction helpers, and UI templates, significantly reducing the time and complexity traditionally associated with building DApps. This toolkit allows developers to write a single codebase that functions seamlessly on both iOS and Android devices, eliminating the need for separate development streams. The integration of deep-link wallet connections with popular wallets such as Phantom and Backpack removes the necessity for custom back-end services, enhancing security by ensuring private keys remain on user devices.

One of the standout features of Solana’s mobile toolkit is its support for deep-link wallet integration. This technology enables users to connect their wallets and authorize transactions without the need for cumbersome authentication systems or centralized servers. The Wallet Adapter for React Native facilitates this by providing plug-and-play connectivity to wallets like Phantom and Backpack, which support secure deep linking protocols. Additionally, Solana’s Mobile Wallet Adapter protocol enhances this experience by enabling direct communication between the app and the wallet, streamlining transaction signing and improving overall user experience.

Developers looking to leverage Solana’s mobile-first stack can follow a straightforward process to build and deploy fully functional DApps. This process includes initializing a React Native project, integrating wallet login, fetching user data, enabling onchain actions, and deploying to mobile platforms. This streamlined workflow allows developers to focus on delivering compelling user experiences rather than managing complex infrastructure, significantly reducing time-to-market.

Transitioning to a no-back-end model for mobile DApps offers multiple benefits that align with the evolving demands of Web3 applications. By eliminating centralized servers, developers reduce operational costs and security risks associated with data breaches and server downtime. Wallet-based authentication simplifies user onboarding, enhancing retention through frictionless access. Furthermore, this architecture ensures that all critical interactions—such as token swaps, NFT minting, and balance queries—occur directly onchain, preserving the integrity and transparency of blockchain networks. The mobile-first approach also taps into a vast global audience, making it a strategic priority for developers aiming to scale their Web3 projects.

After launching a minimum viable product (MVP), developers can expand their Solana mobile apps by integrating additional features that enhance usability and engagement. These features include implementing Solana Pay for seamless QR code and in-person payments, adding push notifications, incorporating biometric authentication methods, utilizing open-source analytics tools, expanding wallet support, and enhancing UX with features such as dark mode, offline access, and multilingual support. These enhancements not only improve user satisfaction but also position Solana mobile apps as competitive offerings in the rapidly growing Web3 ecosystem.

In conclusion, Solana’s mobile-first developer toolkit represents a transformative shift in blockchain app development. By leveraging React Native, deep-link wallet integration, and onchain transaction capabilities, developers can deliver rich Web3 experiences that meet the demands of today’s mobile-centric users. As the ecosystem continues to mature, embracing these tools will be essential for builders aiming to innovate and scale in the competitive decentralized application landscape.

Market Mavens, Buckle Up!

Circle Internet Group (NYSE: CRCL) is about to pull a regulatory Hail Mary that could rewrite the rules of decentralized finance (DeFi). The company’s June 30 filing for a national trust bank charter—First National Digital Currency Bank, N.A.—is no mere bureaucratic box-ticking. This is a game-changer for crypto’s credibility, and it’s a sign that the wild west of DeFi is finally getting hitched to the rails of traditional finance. Let’s break down why this matters, and why you should care.

The Regulatory Rubicon: Circle’s “Trust” Play

Circle’s move to apply for a national bank charter from the Office of the Comptroller of the Currency (OCC) is the equivalent of crypto’s IPO moment. Think of it like this: if the OCC greenlights this, Circle’s USDC stablecoin—the second-largest in the world—will no longer just be a “digital dollar.” It’ll be backed by federal banking oversight, with reserves managed by a regulated institution.

This isn’t about crypto “going legit” (though that’s part of it). It’s about institutional adoption. By securing a trust bank charter, Circle can offer custody services for institutional clients, including blockchain representations of stocks, bonds, and other assets. That’s a $100 trillion opportunity in traditional markets suddenly accessible to DeFi.

Why This Signals DeFi’s Next Phase

DeFi’s growth has been hamstrung by two elephants in the room: regulation and trust. If Circle’s charter is approved, it’ll set a template for how crypto can operate within existing frameworks. The GENIUS Act—a U.S. bill aimed at stabilizing stablecoins—could finally get teeth, and that’s a massive tailwind for USDC.

But here’s the kicker: this isn’t just about compliance. By aligning with regulators, Circle is de-risking crypto for institutional money. Pension funds, hedge funds, and even corporations could soon use USDC for cross-border payments or remittances without fearing a regulatory backlash.

Compare this to the Wild West days of 2017, when crypto was all hype and no guardrails. Now? Circle’s move is like Tesla getting a safety certification from the National Highway Traffic Safety Administration—it legitimizes the entire industry.

The Data You Need to See

Let’s drop some numbers to back this up:

Circle’s IPO in June 2025 sent its valuation soaring to $18 billion, with shares tripling by day’s close. That’s not just investor exuberance—it’s a bet on Circle’s regulatory playbook. Meanwhile, Coinbase (COIN), which lacks such a charter, has lagged. The message is clear: regulatory moats matter.

The Investment Thesis: Buy the “Bridge”

Here’s where the money is:

1. Go all-in on Circle (CRCL) on dips. The OCC decision isn’t a done deal, but even the application signals confidence. If approved, CRCL’s valuation could skyrocket as institutional money floods in.

2. Look for “bridge” companies—firms like Anchorage Digital (already a national bank charter holder) or blockchain infrastructure plays like Marqeta (MQ)—that can connect DeFi to traditional finance.

3. Short the skeptics. Firms clinging to old-school crypto hype (no stablecoin reserves, no regulatory licenses) will get left in the dust.

The Risks?

Regulation is a double-edged sword. If the OCC denies the charter, it could spook investors. Plus, traditional banks might push back, seeing Circle’s move as encroaching on their turf. But here’s the thing: the genie’s out of the bottle. Even if this fails, the pressure on regulators to act is too great.

Final Call: This Is the Future

DeFi’s next chapter won’t be written by rogue coders in basements—it’ll be crafted in boardrooms and regulatory hearings. Circle’s trust bank play is the first shot across the bow. Investors who buy into this vision now could profit as crypto’s “legitimization” wave hits the markets.

Bottom line: Circle isn’t just a crypto company anymore. It’s a financial infrastructure pioneer. If you’re in for the long game, this is your move.

Disclosure: The author holds no positions in the stocks mentioned.