DeFi Dev Corp. Becomes First Public Company With an LST to Be Integrated Into Kamino, Solana’s Premier DeFi Lending Protocol

BOCA RATON, FL, June 02, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company” or “DeFi Dev Corp.”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced an LOI with Kamino Finance, the largest Solana DeFi lending protocol with more than $4B in deposited assets. As part of the collaboration, Kamino intends to integrate dfdvSOL, an LST built by Sanctum, into its suite of capital-efficient DeFi products.

The partnership will see dfdvSOL added to Kamino’s borrow/lend markets, allowing users to supply or borrow against dfdvSOL as collateral, as well as included in Kamino’s Multiply Vaults, which provide users with access to automated leveraged-yield strategies. These integrations will be designed to enhance the utility and yield potential of dfdvSOL within Solana’s expanding decentralized finance ecosystem. With Kamino recently announcing Lending V2, which brings modular lending to Solana with a powerful upgrade across UX, infrastructure, and real world asset (RWA) integration, the integration is also timely.

“Partnering with Kamino unlocks additional utility for dfdvSOL and advances our mission of growing SOL per share for DFDV shareholders,” said Parker White, CIO & COO of DeFi Dev Corp. “We’re excited to see dfdvSOL become a building block in the capital stack of leading Solana-native protocols.”

The partnership will also set the stage for future collaboration on tokenized financial assets, including the potential for stock-backed tokens and other real-world asset (RWA) representations on Solana. While early-stage and exploratory, both companies have expressed interest in contributing to the broader evolution of capital markets infrastructure in DeFi.

The dfdvSOL LST represents stake delegated to DeFi Dev Corp. validator and is built with protocol infrastructure developed by Sanctum, a provider of liquid staking solutions on the Solana blockchain. With dfdvSOL, market participants can stake their SOL tokens and receive a liquid token in return, unlocking staking rewards while maintaining liquidity. The dfdvSOL LST was built by the Sanctum team on June 2, 2025, when the Company announced the partnership with Sanctum to expand access to the Company’s best-in-class validator performance and staking rewards.

Disclaimer: DeFi Dev Corp. receives a commission on the SOL rewards generated from its validator operations and a portion of the fee imposed via the Sanctum protocol based on staking operations by dfdvSOL users. DeFi Dev Corp. is not responsible for the development, security, or operation of Sanctum’s technology or infrastructure, and is not acting on behalf of Sanctum. Users should independently evaluate the risks associated with LSTs and related technologies.

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 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”).

About Kamino Finance
Kamino is the leading borrow/lend and liquidity protocol on Solana, offering unified lending pools, structured yield strategies, and one-click leverage, built on a foundation of institutional-grade risk management. Kamino is the preferred platform for funds, market makers, and stablecoin issuers seeking to operate on Solana at scale.

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 the Company’s current beliefs, expectations, and assumptions regarding the future of its 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 the Company’s control. The Company’s 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) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iii) the effect of and uncertainties related the ongoing volatility in interest rates; (iv) our ability to achieve and maintain profitability in the future; (v) 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; (vi) changes in the accounting treatment relating to the Company’s SOL holdings; (vii) 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; (ix) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (x) 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.

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