Growth
DeFi Development Corp. Expands Solana Treasury
DeFi Development Corp. has increased its Solana treasury by 12% since August 12, adding 22,070 SOL and SOL equivalents over the past week. The company now holds approximately 2.59 million SOL, with plans to strengthen its treasury through continued purchases and an at-the-market offering of $300 million. CEO Joseph Onorati attributes the strategy to growing stablecoin adoption and tokenized stock activity on Solana. Meanwhile, the company's variable-rate perpetual preferred stock, CHAD, reached record trading highs during the week ending October 9, outperforming the broader cryptocurrency selloff and Solana's recent price weakness. CHAD offers a 13% annual dividend rate based on its $10 stated value, with daily business-day payments when declared.