By Isaac • September 15, 2026 7:21 am •
DeFi Development Corp. has opened a new $300 million path to keep expanding one of the public market’s largest Solana treasuries.
The Nasdaq-listed company added 55,491 SOL and launched an at-the-market program for CHAD, its variable-rate Series C perpetual preferred stock, according to Decrypt. The program allows the company to sell up to $300 million of CHAD shares over time, with proceeds intended primarily for additional SOL purchases.
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The new program builds on a preferred-stock structure DeFi Development Corp. introduced earlier this month.
In its September 8 launch announcement, the company described CHAD as a SOL-backed digital credit instrument designed to provide permanent capital without converting into common shares.
The latest purchase lifted the treasury to
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