DeFi Development Corp. said Oct. 26 that its holdings of Solana (SOL) and equivalents rose by 5,346 to about 2,595,612, expanding a treasury tied to its staking and validator operations.
The reported total compares with approximately 2,590,266 SOL and equivalents in an Oct. 19 company announcement filed with the SEC. DeFi Development reported the change in its overall balance without identifying how much came from purchases, staking rewards or other sources.
The treasury update came five days after Solana changed the system its validators use to settle transactions. The Solana Foundation said Alpenglow’s feature gate opened Oct. 21. TowerBFT continued operating for about 18 minutes before Alpenglow took over.
The foundation puts Alpenglow’s target for transaction finality at roughly 150 milliseconds, compared with about 12.8 seconds under TowerBFT. The shorter interval is an expected result, rather than a duration measured for every transaction. Alpenglow’s Votor voting component is active; Rotor, a planned change to the distribution of block data, has no scheduled release date.
DeFi Development holds and stakes SOL and operates validators that earn rewards and fees, the company said. Its treasury strategy gives common shareholders exposure to SOL, while its CHAD preferred stock is intended to provide dividend income. The company identifies declines in SOL’s price and insufficient staking or validator rewards to support CHAD dividends among its risks.
In an Oct. 15 announcement filed as an SEC exhibit, DeFi Development said it would increase CHAD’s annual dividend rate from 13% to 14%. It based the change on its assessment of investor demand and financing costs. The company plans to put money raised through future CHAD sales toward additional SOL holdings.
The new rate corresponds to $1.40 annually for each share with a $10 stated amount, with dividends payable when declared. Preferred shareholders would receive the higher rate if dividends are declared, while DeFi Development would bear the larger payout. The 14% rate takes effect Nov. 2.
