Solana Treasury Firm DeFi Dev Corp Rolls Out $300M CHAD to Buy More SOL
DeFi Development Corp. added 55,491 SOL, worth about $5.78 million, bringing its treasury to roughly 2,388,923 SOL and SOL equivalents, up about 2% since Aug. 27. The Nasdaq-listed firm, DFDV, also launched a $300 million at-the-market program for its Variable Rate Series C Perpetual Preferred Stock, CHAD, through R.F. Lafferty & Co. It plans to sell shares only at or above $10 per share and use proceeds mainly to buy more SOL. The move extends an aggressive capital-raising strategy built around accumulating Solana, running validators, and earning staking yield. CHAD is non-convertible preferred equity, so it can raise capital without diluting common shares or increasing the common share count. The company recently completed an initial CHAD offering, raising about $11 million, and has framed the strategy as an “accumulation flywheel” of raising capital, buying SOL, and generating yield.
