Nasdaq-listed DeFi Development Corp. has increased its Solana treasury by 55,491 SOL, taking its holdings to about 2.39 million SOL and SOL equivalents.
The company said the total had risen by about 2% since 27 August as it continued buying SOL and generating organic yield from its holdings.
DeFi Development Corp. has also created a $300 million at-the-market offering for CHAD, its perpetual preferred stock. The shares will be issued at or above their $10 par value, with the proceeds expected to be used primarily to purchase more SOL.
CHAD is a Variable Rate Series C perpetual preferred stock with an initial annual dividend rate of 13%.
The company, which trades under the ticker DFDV, said the additional funding capacity would support its strategy of raising capital, accumulating SOL, generating yield and increasing the amount of SOL held per share.
“We are growing our SOL treasury…with DFDV returning twice as much as SOL quarter-to-date,” chief executive Joseph Onorati said in a release.
“With a $300 million ATM now in place, we have the structure to scale CHAD into a meaningful new engine of growthand we intend to issue at or above $10.00 par. The flywheel is spinning, and we now have more capacity to put it to work.”
DeFi Development Corp. recently resumed making regular SOL purchases and has the second-largest Solana treasury after Forward Industries.
The company also launched a public real-time data and research platform last month. It tracks market, staking, validator, yield and ecosystem metrics across the Solana network.
The expansion of DeFi Development Corp.’s holdings comes as interest in Solana-related investment products and the wider ecosystem continues to develop.
The market’s leading Solana ETF has reached $1 billion in assets under management, while the price of SOL has risen over the past month.
