[REVISION HISTORY]

DeFi Development Corp Solana ecosystem activities

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2026-10-12 14:08 UTC → 2026-10-16 03:42 UTC · added ~~removed~~

DeFi Development Corp (DFDV) has expanded its focus on the Solana ecosystem through both asset accumulation and capital raising. In late August, the Nasdaq-listed company resumed purchasing SOL tokens, acquiring 19,000 SOL to bring its total holdings to approximately 2.3 million SOL. This expansion was supported by the divestment of its ZeroStack business. During this period, the firm also launched ‘State of Solana,’ a public intelligence platform designed to track network metrics. To fund further Solana purchases, the company initiated an offering of its Variable Rate Series C Perpetual Preferred Stock, known as ‘CHAD stock.’ By early September, the company completed an $11 million issuance of the CHAD stock, receiving approximately $10.3 million in net proceeds. As of early October, the company reported that its Solana treasury has reached 2,564,212 SOL and SOL equivalents, valued at approximately $302 million. This total includes an addition of roughly 26,203 SOL between September 28 and October 2. CEO Joseph Onorati noted that the treasury has grown by 11% since mid-August, despite a recent slowdown in the pace of accumulation. Chief Strategy Officer Dan Kang also highlighted that the SOL balance saw double-digit percentage growth between August 12 and September 30. Following its strategic shift toward core activities and cost reductions, the company issued its first 13% dividend on the CHAD preferred stock on October 1. In mid-October, the company continued its accumulation strategy by acquiring an additional 22,070 SOL, valued at approximately $2.43 million. ~~Since restarting active purchases in late August,~~ As of October 12, the company reported a treasury of 2,586,282 SOL and SOL equivalents. To support future growth, the firm has ~~increased its position by more than 226,000~~ established a $300 million at-the-market CHAD program to provide capacity for further SOL ~~and equivalents through direct purchases and staking rewards earned from operating~~ accumulation without diluting common stock. CEO Joseph Onorati stated that the treasury model is intended to provide “leveraged exposure to Solana”. On October 15, the company announced it will increase the annual dividend rate for its ~~own Solana validators.~~ CHAD preferred stock from 13% to 14%, effective November 2. This change will increase annual dividend payments from $1.30 to $1.40 per share based on a $10 stated amount.

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