Solana Treasury Firm Dangles 13% Dividends in $20M Preferred Stock Offering

DeFi Development Corp., the Solana (SOL) treasury firm, plans to raise up to $20 million through a preferred stock offering. The Variable Rate Series C Perpetual Preferred Stock, also known as CHAD Stock, will carry an initial annual dividend rate of 13%. This means that for every share held, investors can expect to receive $10 per year in dividends, with payments made each business day of the month starting from October 1, 2026.

The company intends to use part of the proceeds to buy more SOL. As the market conditions have turned more favorable, DeFi Development Corp. resumed its accumulation last week by purchasing 19,000 SOL at an average price of $98.14. This purchase has lifted their treasury to about 2.33 million SOL and SOL equivalents.

Chief Executive Joseph Onorati described DFDV as a leveraged way for investors to gain exposure to SOL. He noted that when SOL performs well, they believe DFDV can amplify that performance. In fact, month-to-date, DFDV's return has been more than twice that of SOL.