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DeFi Development Corp added approximately 22,070 units of SOL and SOL equivalent assets last week, raising its treasury size to about 2,586,282 tokens, an increase of 12% from August 12th.
The company's CHAD perpetual preferred stocks pay an annual dividend of 13% at a par value of $10, reaching a record high in the week ending October 9th, and approached $10 after being priced at $8 on IPO.
The trading price of DFDV common shares on Monday was close to $4.41, which calculates the company's market value at approximately $144 million, while its holdings of SOL are valued at around $287 million.
The NASDAQ-listed Solana “treasury” company DeFi Development Corp stated in a press release issued on Monday that it added approximately 22,070 more SOL to its treasury last week – worth about $2,373,211 – as well as “SOL equivalent assets”.
This brings his total holdings to approximately 2,586,282 tokens, which, at the rate of SOL (about $111), are valued at around $287 million. The weekly purchase volume continues to decrease: from 101,381 SOL (about $11.4 million) in mid-September, down to 47,706 (5.8 million dollars), and then to 26,202 (3.1 million dollars).
DFDV is a digital asset treasury company, which means it is a listed company that holds cryptocurrencies, allowing stock investors to participate in their price fluctuations without having to open an encryption account. It was originally a real estate software company named Janover, until it switched to Solana in April 2025 and adopted the Bitcoin model of Strategy.
Chief Strategy Officer Dan Kang stated: " CHAD has reached new highs and approached $10.00 on the occasion of the decline in SOL, which indicates that investors are beginning to recognize its unique earnings attributes. For common stockholders, CHAD provides a source of financing that can support the value growth per share of SOL without issuing more common stock. For holders of CHAD, it provides regular income supported by a growing and productive treasury."
In a press release, CEO Joseph Onorati stated: "Short-term fluctuations have not changed our beliefs, nor have they altered our commitment to continue accumulating SOL."
SOL has fallen by about 9% in the past seven days, and within 24 hours, nearly $1 billion in long positions—that is, trades betting on price increases—were liquidated. Liquidation involves forced selling: when traders use borrowed funds to place bets and the price drops low enough to wipe out their collateral, exchanges automatically close those positions, which further pushes down the price.
13% dividend seems generous, but behind CHAD is a company whose main asset value is about 62% lower than its peak of around $295 in January 2025. The press release itself also warns that the yields from staking may not be sufficient to cover the dividends.
DFDV common shares traded at nearly $4.41 on Monday, with a market value of about $140 million – which is roughly only half of the value of its SOL holdings, despite the company still having debts. When the stock price of a treasury company is lower than the net value of its crypto assets, it becomes less profitable to sell stocks and then buy back tokens, which is one of the reasons for the pressure on this industry.
