DeFi Development has announced plans to raise $100 million through convertible notes due in 2030. The capital will be used exclusively to acquire Solana, a high-performance blockchain platform known for its scalability and decentralized applications ecosystem.
The convertible notes represent debt instruments that may convert into equity under predetermined conditions upon maturity. This strategic fundraising approach aims to position DeFi Development as a major stakeholder in Solana’s blockchain infrastructure.
Acquiring Solana aligns with DeFi Development’s expansion strategy to enhance decentralized finance capabilities and strengthen its foothold in the competitive layer-1 blockchain market. The transaction signals growing institutional interest in blockchain consolidation and platform acquisition.