The Nasdaq-listed firm spent about $2.43 million on its latest purchase as it doubles down on Solana as its core treasury asset
Nasdaq listed DeFi Development Corp. increased its treasury by approximately 22,070 SOL and SOL equivalents over the past week, bringing total holdings to 2,586,282, the company said Monday.
The increase brings treasury growth to approximately 12% since its August 12 second quarter earnings report. The company said its recently established $300 million offering program for CHAD preferred shares provides an additional source of capital to support further accumulation.
“Short term volatility has not changed our conviction or our commitment to accumulating SOL,” CEO Joseph Onorati said in the announcement.
Onorati pointed to tokenized equity trading, stablecoin adoption and Samsung’s recently announced stablecoin functionality for US Galaxy devices as developments supporting the company’s outlook for Solana.
Alongside the treasury update, DeFi Development said CHAD, its variable rate perpetual preferred stock, reached record trading highs during the week ended October 9. The shares gained and approached $10 even as SOL declined, according to the company.
Chief Strategy Officer Dan Kang said the performance reflected demand for CHAD’s income offering. He described the preferred stock as a funding source that could support growth in SOL per common share without issuing additional common shares.
The $300 million program allows the company to sell CHAD shares into the market over time. It represents potential financing capacity rather than capital already raised.
CHAD currently carries a 13% annual dividend rate on its $10 stated amount, equivalent to $1.30 per share annually at the current rate. Dividend payments are made each business day when declared, the company said.
