DFDV's Solana Purchases Shrink Again While CHAD Preferred Climbs Toward $10
By Coinvote
DeFi Development Corp bought about 22,070 SOL last week, taking its treasury to roughly 2.59 million tokens, though its weekly purchases have shrunk since mid-September. Sales of CHAD preferred stock under a $300 million program fund the buying, and CHAD is now approaching its $10 stated amount.
A smaller weekly purchase lifts DFDV's treasury to 2.59 million SOL
DeFi Development Corp, a Nasdaq-listed company that holds SOL as its main treasury asset, said in a press release on Monday that it bought about 22,070 SOL last week. The additions included SOL equivalents, according to Decrypt, which reported a purchase value of approximately $2,373,211. Decrypt reported a treasury valuation of approximately $287 million for holdings of about 2,586,282 SOL, with the token trading near $111.
The Block reported the same weekly purchase and gave the treasury as 2.59 million SOL.
According to Decrypt, the company was formerly named Janover and sold real estate software before switching to Solana in April 2025, following Strategy's Bitcoin approach. Such digital asset treasury companies let stock investors gain exposure to a token without opening a crypto account.
Weekly SOL purchases have shrunk since mid-September
Decrypt cited a series of weekly purchases that shrank over recent weeks, and last week's 22,070 SOL is the smallest of the figures it listed.
Decrypt separately reported that SOL fell about 9% over seven days and that nearly $1 billion in long positions were liquidated within 24 hours. Such liquidations are forced closures of leveraged bets once prices drop far enough to erase collateral, which can add to selling pressure. CoinGecko shows Bitcoin down 3.2% over seven days, so SOL's drop was the steeper of the two.
- In mid-September the company bought 101,381 SOL, worth around $11.4 million.
- The next reported purchase was 47,706 SOL, worth about $5.8 million.
- A later purchase came to 26,202 SOL, worth about $3.1 million.
- Last week's purchase was about 22,070 SOL, worth about $2,373,211.
How CHAD preferred sales pay for the SOL buying
CHAD is the company's perpetual preferred stock, a security that never matures and receives dividends ahead of common shareholders. According to Decrypt, it pays a variable rate of 13% a year on a $10 stated amount, which works out to $1.30 per share, with the payout declared on each business day.
The company raises cash for SOL through a $300 million at-the-market program, which lets an issuer sell new shares gradually at prevailing prices. A higher CHAD price means each share sold brings in more money, so the same issuance converts into a larger SOL purchase. Decrypt reported that CHAD reached record levels during the week that closed on October 9 and now trades close to $10.
Chief Strategy Officer Dan Kang said CHAD gives the company a way to grow SOL per share without selling more common stock. CEO Joseph Onorati said recent volatility has not shaken the company's commitment to accumulating SOL.
What Decrypt and The Block each reported
The Block and Decrypt report the same core facts: a purchase of 22,070 SOL during the past week, a treasury of about 2.59 million SOL, and record levels for the CHAD preferred during a market selloff.
The Block's coverage available here consists of a headline and summary, so it carries less detail than Decrypt's full article. Its headline refers to a 12% increase in the company's SOL holdings.
Decrypt's full text adds the value of the weekly purchase, the decline in buying since mid-September, CHAD's September IPO price, the buyback authorization and the valuation of the common stock.
A record for CHAD sits beside a discounted common stock
Decrypt cautioned that the CHAD record is less striking than it sounds. The shares were priced at $8 when they went public in September, under their $10 stated amount, so a price near $10 is a return toward par. Last week the company also authorized repurchases for any time CHAD trades below that par value.
The common stock tells a different story. Decrypt said DFDV common shares changed hands near $4.41 on Monday, which values the company at about $140 million, or roughly half the worth of its SOL. The outlet noted that the company also carries debt. Decrypt linked that kind of discount to pressure on the sector: when a treasury firm's market value falls below its tokens, issuing shares to fund more purchases no longer pays off.
The 13% dividend rests on a volatile asset. Decrypt reported that SOL sits roughly 62% under the peak of about $295 it reached in January 2025. The company's own release cautions that income from staking might fall short of the dividend payments.
What to watch after Wednesday's U.S. inflation report
Decrypt flagged Wednesday's U.S. inflation report for September as the next macro event for the market. CHAD holders will receive $0.00516 per share for every business day through October 30.
Readers following the wider Solana market can also browse newly listed Solana tokens on Coinvote, where 12 projects were listed in the past seven days.
- The next weekly purchase will show whether buying falls below last week's 22,070 SOL or stabilizes.
- Whether CHAD holds near its $10 stated amount or slips below it will determine whether the buyback authorization comes into play.
- The gap between the common stock's market value and the worth of its SOL holdings is another point to monitor.
Market snapshot
| Asset | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
| Bitcoin (BTC) | $83,110 | -0.3% | -3.2% | $1.67 trillion |
CoinGecko data as of 2026-10-13 (UTC); DeFi TVL from DefiLlama: Solana $6.09 billion.
On Coinvote
- New Solana Tokens Listed Today: 3,651 projects tracked, 12 new listings in 7 days, 1,385 community votes today.
- Best Solana Meme Coins Today: 2,386 projects tracked, 4 new listings in 7 days, 383 community votes today.
FAQ
How much SOL does DeFi Development hold?
According to Decrypt, DeFi Development holds roughly 2,586,282 SOL, valued at around $287 million at a SOL price near $111. The Block gave the total as 2.59 million SOL after last week's purchase of 22,070 SOL.
What is CHAD and what does it pay?
CHAD is DeFi Development's perpetual preferred stock, which has no maturity date. Its dividend is a variable annual rate of 13% of the $10 stated amount, or $1.30 per share, and is declared on each business day.
Why does the CHAD price matter for SOL purchases?
DeFi Development funds its SOL buying by selling new CHAD shares through a $300 million at-the-market program. When CHAD trades closer to $10, each share sold brings in more money, so the same issuance buys more SOL.
Sources
- Decrypt: Solana Treasury Firm DeFi Development Keeps Buying SOL as CHAD Preferred Stock Hits Record (2026-10-12)
- The Block: DeFi Development grows SOL holdings 12% as CHAD hits record highs (2026-10-12)
- CoinGecko (market data), DefiLlama (TVL), Coinvote listing and vote data
Written by the Coinvote news desk from reporting by Decrypt and The Block. Not financial advice.
