DeFi Development Corp. Raises Up to $20 Million with 13% Dividend Rate

DeFi Development Corp., a Solana (SOL) treasury firm, plans to raise up to $20 million through a preferred stock offering. The company's Variable Rate Series C Perpetual Preferred Stock, known as CHAD Stock, will carry an initial annual dividend rate of 13%. This means that for each share held, investors can expect to receive $1.30 per month in dividends, beginning October 1, 2026.

Part of the proceeds from this offering will be used by DFDV to buy more SOL, which is already one of the largest public holders of the token. In fact, the company recently added 19,000 SOL at an average price of $98.14, lifting its treasury to about 2.33 million SOL and SOL equivalents.

DFDV's CEO, Joseph Onorati, described his firm as a 'leveraged way for investors to gain exposure to SOL.' When SOL performs well, DFDV believes it has the potential to amplify that performance. So far this month, DFDV's return has been more than twice that of SOL.