DeFi Development (DSDV) Corporate presentation summary

Industry context and strategy

• Public market treasury strategies are transforming crypto accumulation, with notable examples like MicroStrategy and Metaplanet using digital assets as core reserves.

• Holding crypto on balance sheets has historically driven outsized equity returns, as seen with MSTR outperforming BTC by 1.5x since 2020.

• DFDV is positioned as the first public company focused on accumulating and compounding SOL, leveraging a model designed for rapid and efficient SOL acquisition.

• The company has raised over $370M in capital and holds 2.2M SOL, with a net asset value (NAV) of $179M and 73% SPS growth over nine months.

• DFDV leads its peer group in equity performance, being the only SOL-focused DAT with positive returns post-treasury launch.

Differentiation from legacy structures

• Traditional exchanges and ETFs are limited by high fees, lack of compounding, and suboptimal yield, while DFDV offers enhanced staking and validator-driven returns.

• DFDV's approach includes discounted locked SOL access, validator operations, and risk-managed DeFi strategies, resulting in higher yields and lower tax burdens.

• The company targets 1.0 SOL per share (SPS) by December 2028 and 0.085 SPS by June 2026, reflecting aggressive accumulation goals.

Solana market opportunity

• Solana's fundamentals are strong, with a $47B market cap, $3B in annual staking rewards, and 33B transactions in 2025—more than all other chains combined.

• Solana led in new wallet creation with 1B wallets in 2025 and dominated tokenized equity volume at $2.9B just six months post-launch.

• The total addressable market (TAM) for Solana spans all major asset classes, with projections suggesting significant upside even at $10K per SOL.

• Institutional adoption is evident, with major players like Western Union, PayPal, and J.P. Morgan leveraging Solana for stablecoins and tokenized assets.