Solana treasury entity DeFi Development Corp. has finalized and rolled out its preferred stock transaction, introducing what it describes as the inaugural SOL-backed “Digital Credit” security.
CHAD features a starting yearly dividend percentage of 13% and will finance extra SOL acquisitions, supplying the Nasdaq-traded DeFi Development organization with an alternative method to expand its SOL reserves without diluting common shares. The placement, which concluded at $11 million, featured backing from Tom Lee of Fundstrat.
CHAD functions as a Variable Rate Series C perpetual preferred equity, featuring an initial yearly dividend yield of 13%, which matches a starting effective return of roughly 16.25% relative to the issue price. The initial standard dividend payout is scheduled for October 1.
“CHAD marks a significant turning point for DFDV and for the progression of Digital Credit,” stated Joseph Onorati, CEO of DeFi Development. “For the inaugural time, market participants can obtain Digital Credit secured by Solana, while DFDV secures a fresh avenue of perpetual funding that can be channeled straight into extra yield-generating SOL.”
DeFi Development Corp. lately restarted Solana acquisitions, securing about 19,000 SOL to raise its total reserves to roughly 2.33 million SOL and equivalent assets.
CHAD shares a parallel framework with Strategy’s preferred-stock issuances. One key distinction is that DeFi Development is marketing CHAD as a fresh category of “digital credit” because SOL is capable of producing staking/validator returns, whereas Strategy’s financial instruments rely on a Bitcoin reserve.
“The short-term advantage is clear: we anticipate this deal will elevate SPS without expanding our common share volume,” Onorati expressed in a statement. “However, the far greater potential lies in what CHAD has the capacity to evolve into. Should we stabilize the asset near par value and scale it over the long term, we feel CHAD can drive the capital markets momentum that permits DFDV to aggressively accumulate SOL and compound SOL per share.”
Originally published at https://www.theblock.co/news/markets/2026-09-08-defi-development-closes-strategy-style-11-million-chad-offering-grow-solana-treasury-413892.
