DeFi Development Corp. expands SOL holdings, CHAD surges
6.7 Investments DeFi Development Corp. raised its Solana holdings by 22,070 SOL to 2.59 million. Its CHAD preferred stock hit record highs and offers a 13% annual dividend, supporting further SOL accumulation.
DeFi Development Corp. has boosted its Solana (SOL) holdings by approximately 22,070 SOL over the past week, raising its total to about 2.59 million SOL—a 12% increase since August 12. The company invested around $2.43 million in this latest purchase, bringing the value of its SOL treasury to roughly $284.9 million. This accumulation aligns with the company’s ongoing strategy, which includes direct purchases and staking rewards, as DeFi Development Corp. operates its own Solana validators. To support further acquisitions, the company has established a $300 million at-the-market offering program (CHAD ATM). Its variable-rate perpetual preferred stock, CHAD, reached record trading highs during the week ending October 9, despite a broader crypto market downturn. CHAD currently offers a 13% annual dividend rate, payable when declared. The company has also authorized a program to repurchase up to all outstanding CHAD shares, providing flexibility if the securities trade below their $10 par value. CHAD serves as a financing channel for expanding the SOL treasury and offers holders income opportunities tied to SOL asset returns.
