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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/15/2026

DeFi Development Corp Expands Solana Treasury, Launches $300M CHAD ATM Offering

What happened: DeFi Development Corp increased its Solana holdings to 2.

DeFi Development Corp Expands Solana Treasury, Launches $300M CHAD ATM Offering

What happened: DeFi Development Corp increased its Solana holdings to 2.39 million SOL (up 2% since late August) and established a $300 million at-the-market (ATM) offering for its CHAD perpetual preferred stock. CHAD, with a $10 par value and 13% initial annual dividend, is designed to raise capital primarily for further SOL accumulation. The company is now the second-largest public Solana treasury, trailing only Forward Industries. CEO Joseph Onorati described the ATM as a "new engine of growth."

Why it matters: The aggressive 13% dividend rate on CHAD reflects both the risk appetite and the competitive pressure to attract capital in the digital credit market. DeFi Development Corp’s ongoing SOL accumulation and innovative capital structure position it as a major player in the Solana ecosystem, potentially narrowing the gap with the sector leader. The move also underscores the growing trend of token-backed financial instruments targeting yield-seeking investors.

Source: The Block, GlobeNewswire