DeFi Dev Corp. and Switchboard Join Forces to Advance RWA Oracle Infrastructure on Solana

Rhea-AI Summary

DeFi Development Corp. (NASDAQ:DFDV), a public company focused on Solana accumulation, has signed a non-binding Letter of Intent (LOI) with Switchboard Technology Labs, a leading decentralized oracle network on Solana. The strategic collaboration aims to develop infrastructure for real-world asset (RWA) initiatives on the Solana ecosystem.

The partnership will focus on developing custom oracle feeds for RWA pricing, implementing real-time proof-of-reserve attestations, and exploring joint go-to-market opportunities. Switchboard, known for powering critical data feeds for major DeFi protocols, will integrate its oracle infrastructure into DeFi Dev Corp.'s RWA framework to enhance transparency and verification of onchain data.

Positive

• Strategic partnership with a leading Solana oracle provider
• Expansion into real-world asset (RWA) tokenization market
• Access to Switchboard's established infrastructure and client base
• Enhanced capabilities for real-time data verification and pricing

Negative

• LOI is non-binding and preliminary in nature
• No specific timeline or financial terms disclosed
• Execution risks in implementing new RWA infrastructure

Insights

Blockchain Technology Expert

DFDV's partnership with Switchboard strengthens its RWA capabilities on Solana, potentially unlocking significant infrastructure value.

This non-binding LOI between DeFi Dev Corp. and Switchboard marks a strategic positioning in the growing tokenized real-world assets (RWA) segment. The collaboration targets a critical infrastructure gap in the Solana ecosystem – reliable oracle services for bringing real-world asset data on-chain.

The technical significance lies in the complementary capabilities: Switchboard provides battle-tested oracle infrastructure already serving major DeFi protocols on Solana, while DFDV contributes its RWA framework and tokenization expertise. Their combined focus on custom oracle feeds for asset pricing, real-time proof-of-reserve attestations, and joint market opportunities addresses the fundamental challenge of blockchain RWA adoption – ensuring reliable, transparent data bridging between traditional assets and on-chain representations.

From an ecosystem perspective, this collaboration potentially accelerates Solana's competitiveness in the RWA space against Ethereum, which currently dominates tokenized real-world assets. The emphasis on proof-of-reserve attestations signals a focus on transparency that addresses regulatory concerns – essential for institutional RWA adoption.

While non-binding at this stage, the technical alignment makes strategic sense. DFDV gains access to battle-tested oracle infrastructure critical for RWA applications, while Switchboard expands its market presence through integration with DFDV's framework. The partnership creates potential first-mover advantages in specialized oracle services for emerging RWA categories on Solana.

BOCA RATON, FL, July 11, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company”) the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced the signing of a non-binding Letter of Intent (LOI) with Switchboard Technology Labs Inc., a core contributor to the Switchboard Protocol, a leading decentralized oracle network on Solana.

Under the agreement, DeFi Dev Corp. and Switchboard intend to explore a strategic collaboration focused on building the data and oracle infrastructure necessary to support real-world asset (RWA) initiatives across the Solana ecosystem. The agreement outlines a mutual interest in the following areas of cooperation:

• Development of custom oracle feeds for real-world asset pricing and data
  
  
• Implementation of real-time proof-of-reserve attestations
  
  
• Joint go-to-market opportunities for RWA-related products
  
  
• Integration of Switchboard’s oracle infrastructure into DeFi Dev Corp.’s RWA framework
  

“This collaboration reflects our belief that trusted, transparent, and verifiable onchain data is critical to unlocking the next wave of tokenized assets on Solana,” said Parker White, COO & CIO of DeFi Dev Corp. “Switchboard’s robust oracle infrastructure makes them a natural partner as we build out our tokenization/RWA strategy.”

Switchboard has established itself as a premier oracle solution within the Solana ecosystem, powering mission-critical data feeds for some of the most respected DeFi protocols, including margin trading platforms, lending markets, and derivatives infrastructure. With a focus on security, flexibility, and decentralization, Switchboard is one of the few oracle providers offering customizable feeds and verifiable randomness for builders. As such, the partnership represents a meaningful step in further strengthening the foundation for real-world asset adoption on Solana.

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 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 Switchboard Technology Labs
Switchboard Technology Labs Inc develops infrastructure software and provides research and development as well as consulting services to help bring data on chain. Switchboard Technology Labs Inc. is a core contributor of the Switchboard protocol. The Switchboard protocol is a suite of web3 services and oracle network which lets developers easily connect real world data into web3. 

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 our current beliefs, expectations and assumptions regarding the future of our 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 our control. Our 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) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) 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; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) 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; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) 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.

Investor Contact:
ir@defidevcorp.com 

Media Contact:
Prosek Partners
pro-ddc@prosek.com 

FAQ

What is the purpose of the DeFi Dev Corp. (DFDV) and Switchboard partnership?

The partnership aims to develop data and oracle infrastructure for supporting real-world asset (RWA) initiatives on the Solana ecosystem, including custom oracle feeds and real-time proof-of-reserve attestations.

What services does Switchboard currently provide in the Solana ecosystem?

Switchboard provides oracle infrastructure and data feeds for major DeFi protocols, including margin trading platforms, lending markets, and derivatives infrastructure, with a focus on security and decentralization.

How will this partnership benefit DFDV shareholders?

The partnership positions DFDV to expand into the growing RWA tokenization market while leveraging Switchboard's established infrastructure and client base in the Solana ecosystem.

What are the key components of the DFDV-Switchboard Letter of Intent?

The LOI includes development of custom oracle feeds for RWA pricing, implementation of real-time proof-of-reserve attestations, and exploration of joint go-to-market opportunities.

Is the partnership between DFDV and Switchboard finalized?

No, the agreement is currently a non-binding Letter of Intent (LOI), indicating preliminary plans for collaboration that are subject to final agreement.