TheBlock
DeFi Development Corp. added approximately 22,070 SOL and SOL equivalents over the past week, bringing its total holdings to roughly 2.59 million SOL. The Nasdaq-listed Solana treasury company said its holdings have increased 12% since its Aug. 12 earnings report. CHAD, its variable-rate perpetual preferred stock, also reached record trading highs during the week ended Oct. 9 despite a broader crypto market selloff.
Why it matters
DeFi Development's buying reinforces its stated strategy of accumulating SOL through short-term volatility. CEO Joseph Onorati said the company remains committed to building its SOL position, arguing that tokenized equities are already generating billions of dollars in trading activity on Solana.
Onorati also pointed to Samsung's announcement that it will bring stablecoin functionality to 82 million U.S. Galaxy devices. The company sees those developments as evidence of a larger role for Solana in global finance and plans to keep accumulating and compounding SOL ahead of that opportunity.
Market impact
CHAD currently carries a 13% annual dividend rate, payable when declared. DeFi Development authorized a program last week to repurchase up to all outstanding CHAD shares, giving it flexibility to buy the securities if they trade below their $10 par value.
The preferred stock's record performance contrasted with a sharp decline in the company's common shares. DFDV fell 2.2% on Monday and about 21% over the past week. Chief Strategy Officer Dan Kang said CHAD's performance showed that its income proposition can trade differently from SOL, creating a distinct market signal for investors tracking the treasury strategy.
Frequently asked questions
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How much SOL did DeFi Development add over the past week?
DeFi Development added approximately 22,070 SOL and SOL equivalents, bringing its total holdings to roughly 2.59 million SOL.
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How much have DeFi Development's SOL holdings increased since Aug. 12?
The company's SOL holdings increased 12% since its Aug. 12 earnings report.
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What dividend rate does CHAD currently carry?
CHAD carries a 13% annual dividend rate, payable when declared.
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Why did DeFi Development authorize CHAD share repurchases?
The program gives the company flexibility to repurchase up to all outstanding CHAD shares if they trade below their $10 par value.
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How did DFDV shares perform during the week?
DFDV shares fell 2.2% on Monday and about 21% over the past week, even as CHAD reached record trading highs.
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