DeFi Dev Corp partners with Mayan for cross-chain equity access

BOCA RATON - DeFi Development Corp. (NASDAQ:DFDV), a $403 million market cap company whose shares have surged over 2,400% in the past year according to InvestingPro data, announced Thursday a strategic partnership with Mayan, a cross-chain trading protocol in the Solana ecosystem, to enable trading of its tokenized equity instrument DFDVx across multiple blockchain networks.

The integration allows users to swap DFDVx across major chains including Ethereum, Base, BNB, Arbitrum, Sui, and Optimism, according to the company’s press release. This development aims to provide broader access to DeFi Dev Corp’s on-chain equity. While the stock has experienced a 20% decline over the past week, InvestingPro analysis reveals 11 additional investment tips that could help investors navigate this volatile asset.

DeFi Development Corp., which describes itself as a public company with a treasury strategy focused on accumulating Solana (SOL), said the partnership will facilitate both cross-chain and native swapping of DFDVx tokens. The company maintains strong liquidity with a current ratio of 2.89, though analysts anticipate it won’t achieve profitability this year.

"Partnering with Mayan marks a key milestone for us as we continue to make DFDVx the most accessible, liquid, and innovative tokenized crypto treasury strategy in the market," said Joseph Onorati, CEO of DeFi Dev Corp.

The company stated that users can begin swapping to DFDVx immediately through Mayan’s platform.

DeFi Development Corp. maintains a treasury policy that allocates its principal holdings to SOL, providing investors with economic exposure to Solana while participating in its ecosystem. The company operates validator infrastructure and generates staking rewards from delegated stake.

Mayan reportedly processes over $1 billion in monthly volume across blockchain networks and is used by over 1.5 million wallets, according to information provided in the announcement.

In other recent news, DeFi Development Corp. has reached a significant milestone by accumulating 999,999 Solana (SOL) tokens on its balance sheet. The company reported purchasing 141,383 SOL between July 14-20 at an average price of $133.53, totaling approximately $19 million. This acquisition brings the total value of their SOL holdings to around $181 million. Furthermore, DeFi Development Corp. has launched an international expansion initiative called the DFDV Treasury Accelerator, supported by notable firms such as Kraken, Pantera, and Arrington. This initiative aims to establish regional public Solana treasury vehicles globally. The company also announced its first public guidance call via X Spaces, where executives will discuss financial guidance and a convertible note offering. Additionally, DeFi Development Corp. has set forward-looking guidance, targeting 1.0 SOL per Share by December 2028. The company aims for substantial growth, projecting a 261% increase from its current SOL per Share level over the next year.

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