DeFi Development expands Solana treasury to 2.39M

• DeFi Development Corp has increased its Solana treasury to about 2.39 million SOL.
• The company has also launched a US$300 million ATM programme for CHAD preferred stock.
• The funding facility will primarily support further Solana purchases.

DeFi Development Corp has added 55,491 Solana (CRYPTO:SOL), taking its treasury to about 2.39 million SOL.

The increase has lifted its holdings by about 2% since August 27 as the company has continued accumulating SOL.

“We are growing our SOL treasury...with DFDV returning twice as much as SOL quarter-to-date,” said DeFi Development Corp Chief Executive Officer Joseph Onorati.

The company has established a US$300 million at-the-market offering for CHAD perpetual preferred stock.

CHAD shares will be issued at or above their US$10 par value, with proceeds primarily earmarked for further SOL purchases.

The preferred stock has an initial annual dividend rate of 13%, while DeFi Development Corp has described the strategy as a capital cycle involving funding, SOL accumulation and yield generation.

DeFi Development Corp has the second-largest public Solana treasury after Forward Industries, while its shares have also been supported by its growing SOL holdings and yield strategy.

At the time of reporting, Solana price was $102.60.