DeFi Corp Unveils CHAD Stock to Fuel SOL Buying and Treasury Growth

DeFi Development Corp., the Nasdaq-listed company behind the Solana-focused treasury strategy, has introduced CHAD Stock as a new financing tool to fuel its SOL buying activities. The perpetual preferred security offers an initial 13% annual dividend rate, with payments made on business days declared by the board.

The security is variable and can change based on market conditions, interest rates, liquidity, and DFDV's capital requirements. Unlike conventional preferred shares, CHAD Stock has no fixed maturity structure and is perpetual in nature. The company plans to establish a reserve covering the first 12 months of dividends at the initial rate, equal to $1.30 per share.

DFDV aims to raise up to $20 million through the sale of CHAD Stock, with proceeds available for working capital, strategic transactions, growth initiatives, and additional purchases of SOL and other digital assets. The company has already accumulated about 2.33 million SOL and equivalents after buying roughly 19,000 SOL at an average price of $98.14.