DFDV Boosts Solana Holdings, Launches $300M CHAD Share Program

DeFi Development Corp., a Nasdaq-listed company, has increased its Solana (SOL) holdings to approximately 2.39 million units, representing a 2% increase in its treasury size.

This move comes as part of the company's two-stage expansion plan for its SOL treasury.

As reported by DeFi Development Corp., it established a new capital channel to provide resources for future purchases and increased its current SOL holdings since August 27.

The company also created a $300 million at-the-market offering program for CHAD perpetual preferred shares, with an initial annual dividend rate of 13%.

According to the statement, DFDV CEO Joseph Onorati stated that the new program will be used to transform CHAD into a larger growth vehicle and increase SOL holdings.