Solana DAT DeFi Development Expands Buyback to $100M

• DeFi Development Corp. (DFDV) announced that its board has expanded its share repurchase (buyback) program from $1 million to up to $100 million
• Under the new authorization, the company may begin with an initial $10 million in open market repurchases, with further buybacks requiring board approval, depending on market conditions
• DeFi Development ranks among the largest digital asset treasuries (DATs) operating on the Solana blockchain, with holdings exceeding 2 million tokens as of last week

DeFi Development Corp. (DFDV), the first public digital asset treasury (DAT) focused on accumulating and compounding Solana (SOL), announced that its board has expanded its share repurchase (buyback) program from $1 million to up to $100 million.

Under the new authorization, the company may begin with an initial $10 million in open market repurchases, with further buybacks requiring board approval depending on market conditions.

DeFi Development made a statement, saying: “The repurchase program authorizes the Company to buy back shares of its common stock from time to time on the open market in accordance with Rule 10b-18 of the Securities Exchange Act of 1934 and other applicable laws and regulations.”

This course of action seems to be consistent with DFDV’s overarching strategic objectives, which include raising capital, boosting SOL holdings, staking SOL, and increasing SOL-per-share metrics for shareholders.

DeFi Development ranks among the largest digital asset treasuries (DATs) operating on the Solana blockchain, with holdings exceeding 2 million tokens as of last week.

Related: Solana Anchors $300M Treasury in Abu Dhabi Under Santori’s Watch

Recent Capital Raises and Solana Purchases

Earlier in July 2025, DFDV issued $112.5 million in convertible notes to fund more SOL acquisitions, stock buybacks, and corporate operations. The company also bought $15 million in SOL recently, which lifted its “SOL per share” metric to 0.0816.

Additionally, DFDV is expanding globally as it announced plans to launch Korea’s first Solana DAT in collaboration with Frametric Labs.

What the buyback means for Solana

DFDV is part of a newer model of public companies whose core function is managing crypto treasuries. The share buyback supports this by reducing the number of shares, which increases the amount of SOL that each share represents, effectively making it a stronger bet on SOL’s success.

This announcement can also potentially increase capital flows to Solana. For instance, as DFDV increases its SOL accumulation and staking, this creates more demand for SOL, less circulating supply, and more alignment between equity holders and crypto holders.

Related: Why Solana Matters in the Evolving Crypto Ecosystem

Granted, there’s risk here too. If the price of SOL doesn’t do well or the economy takes a turn for the worse, spending a lot on buybacks could use up cash or force the company to issue more shares. 

Furthermore, the buyback is not a binding commitment, making its implementation and timing of utmost importance for success.