DeFi Development Corp adds 22,070 SOL to treasury
- DeFi Development Corp (NASDAQ:DFDV) added approximately 22,070 SOL and SOL equivalents to its treasury.
- Its holdings reached approximately 2.59 million SOL and equivalents, representing 12% growth since 12 August.
- The company continues accumulating Solana while developing decentralised finance products and reporting performance from its CHAD preferred stock.
DeFi Development Corp (NASDAQ:DFDV) added 22,070 SOL and equivalents last week, lifting its treasury to approximately 2.59 million SOL.
The company’s holdings have grown approximately 12% since its 12 August second-quarter earnings update, despite recent cryptocurrency market volatility.
“Short-term volatility has not changed our conviction or our commitment to accumulating SOL,” DeFi Development Corp Chief Executive Officer Joseph Onorati said in a statement.
The company also has a $300 million at-the-market offering programme intended to provide additional capital for its Solana accumulation strategy.
Its CHAD (NASDAQ:CHAD) preferred stock reached new trading highs during the week ended 9 October, even as SOL prices fell.
DeFi Development holds and stakes Solana (SOL), operates validator infrastructure and earns rewards and fees from delegated stake.
The company also pursues decentralised finance opportunities across Solana’s application ecosystem, while CHAD carries a 13% annual dividend rate when declared.
Following the announcement, DeFi Development Corp shares were down 4.21% at US$4.32.
