DeFi Development Corp. (Nasdaq: DFDV), recognized as the first publicly traded company with a treasury strategy designed to accumulate and enhance its holdings of Solana (“SOL”), has recently announced the signing of a non-binding Letter of Intent (LOI) with Switchboard Technology Labs Inc. This firm is a key contributor to the Switchboard Protocol, a prominent decentralized oracle network operating on Solana. The collaboration aims to explore a strategic partnership that focuses on developing the essential data and oracle infrastructure to facilitate real-world asset (RWA) projects within the Solana ecosystem.
The LOI outlines several areas of mutual interest, including the creation of custom oracle feeds for pricing and data related to real-world assets, the implementation of real-time proof-of-reserve attestations, potential joint marketing initiatives for RWA-focused products, and the integration of Switchboard’s oracle technology into DeFi Development Corp.’s framework for RWAs.
“This partnership signifies our conviction that reliable, transparent, and verifiable on-chain data is fundamental to unlocking the next phase of tokenized assets on Solana,” stated Parker White, COO & CIO of DeFi Development Corp. He emphasized that Switchboard’s advanced oracle infrastructure positions them as an ideal collaborator in developing their tokenization and RWA strategy.
Switchboard has established itself as a leading oracle solution within the Solana ecosystem, providing critical data feeds for various respected DeFi protocols, including platforms for margin trading, lending markets, and derivatives infrastructure. With a strong emphasis on security, flexibility, and decentralization, Switchboard stands out as one of the few oracle providers that offer customizable feeds and verifiable randomness for developers. This partnership is therefore a significant advancement in reinforcing the foundation for RWA adoption on the Solana network.
About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has implemented a treasury strategy where its main asset within its reserve is dedicated to SOL. This approach not only provides investors with direct economic exposure to SOL but also actively engages in the growth of the Solana ecosystem. Alongside holding and staking SOL, the company operates its own validator infrastructure to generate staking rewards and fees from delegated stakes. Furthermore, DeFi Development Corp. is involved in multiple decentralized finance (DeFi) ventures and consistently seeks innovative avenues to leverage Solana’s expanding application layer.
The company is an AI-driven online platform that connects the commercial real estate sector by offering data, software subscriptions, and value-added services to professionals in the multifamily and commercial property markets. It serves an extensive user base of over one million annually, including property owners and developers involved in billions of dollars in debt financing each year, professional service providers, and numerous multifamily and commercial property lenders, comprising over 10% of U.S. banks, credit unions, real estate investment trusts (REITs), debt funds, and major multifamily lenders.
About Switchboard Technology Labs
Switchboard Technology Labs Inc. specializes in developing infrastructure software and offers research, development, and consulting services to facilitate the integration of real-world data into blockchain environments. As a core contributor to the Switchboard Protocol, the company provides a suite of web3 services and an oracle network that enables developers to seamlessly incorporate real-world data into their web3 applications.
Forward-Looking Statements
This announcement includes “forward-looking statements” as defined by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be identified by terms like “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar expressions referring to future periods. These statements are not historical facts or guarantees of future performance; rather, they are based on current beliefs, expectations, and assumptions regarding the future of the business and its strategic plans, projections, anticipated events, trends, and economic conditions. Due to the nature of forward-looking statements, they carry inherent uncertainties, risks, and changes in circumstances that can be unpredictable and often beyond our control. Actual results and financial performance may significantly differ from those suggested in these statements, and reliance on them is discouraged. Factors that could lead to such discrepancies include fluctuations in SOL market prices, interest rate volatility, challenges in achieving and sustaining profitability, impacts from regulatory environments, changes in accounting treatment for SOL holdings, responses to general economic conditions, effective growth management, access to capital sources, and other risks detailed in the “Risk Factors” section of the company’s most recent Annual Report on Form 10-K and other SEC filings. Consequently, actual results may deviate substantially from the expectations expressed in these forward-looking statements. These statements are made as of the date of this announcement, and the company has no obligation to update this information unless mandated by law.
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