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DeFi developer cleans up CHAD repurchase-but not yet completed

2026-10-07 04:18:40
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DeFi Development establishes CHAD preferred share repurchase framework

DeFi Development Corp. (ticker code: DFDV) has authorized an unlimited plan to repurchase all issued CHAD preferred shares. The scope of the authorization also covers possible future issues of CHAD shares. The company said it may use the program to repurchase securities if they trade at less than their $10 face value, but there are currently no plans to start buying immediately.

Joseph Onorati, CEO of

, pointed out that the company's primary goal is to help CHAD establish a stable market positioning near face value. Management wants to use repurchase options as a capital allocation tool to provide flexibility should preferred stock prices fall below that level subsequently. The move follows a trend of Solana's decentralized exchange (DEX) transaction volume growing across the network.

Solana treasury assets increased in the third quarter

DeFi Development also released preliminary third-quarter data, showing that its Solana treasury has expanded. The company said that in the past week, the net asset value per share has more than doubled, and its holdings have increased to approximately 2.56 million SOLs. The company's treasury model links financing directly to its plan to continue to increase SOL reserves.

The company views CHAD as a long-term source of capital rather than a single financing event. The repurchase authorization does not require immediate action and gives management room to respond based on future market prices. The strategy echoed Forward Industries 'efforts to expand its SOL treasury in the fiscal fourth quarter.

目前,DeFi Development 持有的国库资产约为 256 万枚 SOL。此前,公司已宣布计划使用 CHAD 销售所得资金购买更多 SOL。CHAD 优先股的首次股息已于 10 月 1 日支付,标志着该证券发行进程的又一重要步骤。此次授权并未改变 CHAD 募集资金的既定用途,即继续用于购买 Solana 资产。

受国库更新消息提振,DFDV 股价上涨

在周二的交易中,DFDV 股价上涨约 3.3%。此次股价波动发生在周一发布初步第三季度更新及最新 SOL 持仓信息之后。DeFi Development 仍是少数将数字资产作为其主要国库战略组成部分的上市公司之一,而 Solana 的机构结算工作也在持续扩展。

CHAD 计划为公司提供了另一种管理优先股权益的方式,同时保持其 SOL 积累策略不变。投资者现在将密切关注 CHAD 相对于票面价值的交易情况,以及公司是否会最终动用此项授权。该计划涵盖当前及未来的 CHAD 股份,且未设定固定的回购截止日期。

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