DeFi Development Corp Raises $11M for Solana-Focused Treasury

DeFi Development Corp has successfully completed an $11 million public offering of CHAD Stock, a preferred equity instrument backed by its Solana treasury. The company claims this is the first SOL-backed digital credit instrument to trade on a major exchange. The CHAD Stock offering consisted of 1.375 million shares priced at $8.00 each.

The stated value of each share is $10, with an annual dividend rate of 13% on that value. At the purchase price, this translates to an effective yield of roughly 16.25%. The first dividend payment is scheduled for October 1, 2026.

Notable participants in the offering included Thomas Lee, co-founder and head of research at Fundstrat Global Advisors, and the chairman of BitMine, an Ethereum-focused treasury firm. The net proceeds from the CHAD offering will be directed primarily toward buying more Solana and investing in related digital asset projects.