Company That Announced It Would Accumulate Hundreds of Millions of Dollars Worth of Solana (SOL) Suddenly Partners with a Surprise Altcoin

Solana (SOL) treasury-focused company DeFi Development Corporation (DFDV) has announced the launch of a new validator on the Solana network in collaboration with the popular memecoin Dogwifhat (WIF) community.

The company plans to share staking revenues, MEV (Maximum Extractable Value), and other validator rewards, minus operational costs, with the Dogwifhat community.

“In the short term, we are supporting the Dogwifhat community by running a Solana validator. In the long term, we aim to take this relationship even further,” said Parker White, Chief Investment and Operations Officer of DeFi Dev Corp. Noting that the reward sharing ratios have not yet been made public, White stated that both parties will receive a share of the revenue after expenses.

The company, previously known as Janover, launched the Solana accumulation and treasury management strategy after being acquired by former Kraken executives in April. The new partnership with Dogwifhat is part of the company’s strategy to increase its “SOL per Share” metric.

“This collaboration combines the cultural strength of one of crypto’s most beloved communities with institutional-grade validator infrastructure,” White said. “Our goal is clear: maximize performance, increase visibility, and secure Solana. In doing so, we deepen our connection with WIF and the community it represents.”

Pursuing its goal of “becoming Solana’s MicroStrategy” in the Solana ecosystem, DeFi Dev Corp currently holds around 609,000 SOL, an amount worth around $107 million.

*This is not investment advice.