- DFDV added approximately 22,070 SOL and equivalents, lifting holdings to 2.59 million.
- CHAD reached record trading highs despite weakness across cryptocurrency markets.
- The preferred stock carries a variable 13% annual dividend rate, payable when declared.
DeFi Development Corp. expanded its Solana treasury by approximately 22,070 SOL and SOL equivalents over the past week. Total holdings reached 2,586,282, up roughly 12% since August 12, the company announced Monday. Its preferred stock, CHAD, reached record trading highs during the week ended October 9, while common shares fell 2.2% in Monday trading.
Solana treasury expansion continues despite market losses
The Nasdaq-listed company maintained its accumulation strategy as crypto markets weakened. DFDV common shares also lost about 21% over the preceding week.
CEO Joseph Onorati cited stablecoin adoption and tokenized equity activity as reasons for remaining committed to Solana. He also highlighted Samsung’s announced plans to bring stablecoin functionality to 82 million U.S. Galaxy devices.
The Solana treasury strategy includes staking and operating validators, which generate rewards and fees from delegated tokens. The reported weekly increase includes SOL equivalents, rather than representing only newly purchased native tokens.
DFDV has established a $300 million at-the-market program for selling CHAD shares. That provides potential financing capacity for its Solana treasury, rather than confirming that the full amount has already been raised.
Chief Strategy Officer Dan Kang said preferred issuance could support growth in SOL per common share without issuing additional common stock. Whether that funding improves shareholder value still depends on financing costs and treasury performance.
CHAD approaches $10 as dividend terms draw investor focus
CHAD rose toward its $10 stated amount despite weakness in SOL, according to the company. Its different trading pattern reflects an income-focused security, although it remains exposed to the issuer’s financial condition.
The preferred stock currently carries a 13% annual dividend rate on that stated amount. This equals $1.30 per share annually at the current rate, with business-day payments made only when declared.
The Solana treasury supports the company’s income strategy, but the dividend rate can change. DFDV also warns that staking and validator rewards may not be enough to support payments.
Separately, the company authorized repurchases of up to all outstanding CHAD shares, allowing purchases below the $10 stated amount.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
