A weekly estimate of DeFi Development Corp.’s CHAD fundraising points to capacity for purchases exceeding 3,500 Solana (SOL), indicating the preferred stock’s possible role in the Nasdaq-listed company’s crypto treasury.
The projection works out to about 700 SOL a day. It is a financing estimate, not a record of executed acquisitions.
CHAD is the company’s Series C perpetual preferred stock, listed on Nasdaq. In an Oct. 15 announcement, DeFi Development said proceeds from future CHAD sales would go toward adding SOL to its treasury, as detailed in EconoTimes’ earlier coverage of the company’s CHAD funding plan.
The announcement also raised CHAD’s annual dividend rate from 13% to 14%, effective Nov. 2. Preferred shareholders would receive the higher rate if dividends are declared, while the company would bear the larger payout. DeFi Development reported holdings of 2,600,948 SOL and equivalents as of Oct. 30 in its earlier holdings update.
