DeFi Development Corp. 授权在价格低于10美元时回购CHAD代币

DeFi Development Corp. approves plan to repurchase CHAD preferred shares

DeFi Development Corp., a treasury and infrastructure company focused on the Solana ecosystem, announced that its board of directors has approved a plan to repurchase all issued CHAD preferred shares. The company clarified that it did not currently plan to implement any share buybacks under the newly authorized framework, but rather positioned the move as a flexible capital management tool.

Repurchase plan depends on market price

The company made clear that the authorization covers all current and future CHAD shares and allows repurchase through open market purchases or privately negotiated transactions. However, any repurchase activity is at the discretion of management and is not a mandatory obligation.

No repurchase activity will begin until CHAD reaches its face value of US$10. If preferred shares fall below par value again after reaching that level, DeFi Development Corp. may use the new authorization to opportunistically buy back shares. CEO Joseph Onorati emphasized: "Our primary goal is simple: to bring CHAD back to face value." He added that the announcement was focused on creating future flexibility rather than signaling an immediate buyback.

Repurals are seen as a future option when the CHAD transaction price is below $10, and the company's priorities are first focused on reaching par value and supporting long-term capital strategies.

Solana Treasury growth comes with the launch of CHAD dividend plan

The company's growing Solana treasury forms the basis of CHAD's repurchase program and dividend policy. In an updated regulatory filing on October 5, DeFi Development Corp. reported that its Solana holdings had increased by approximately 26,203 SOLs since late September, bringing the total in the treasury to approximately 2,564,212 SOLs and its equivalent assets-a valuation of nearly $302 million at the time of filing. This marks a continued rise in the 2.53 million SOLs cited from earlier updates.

Since August 12, the company's SOL position has expanded by approximately 11%. Its business model involves holding and pledging SOL, operating verifier infrastructure, and receiving pledge rewards and fees. The relationship between SOL price movements, the overall value of the treasury and the revenue structure of CHAD is seen as important factors for investors to consider preferred stocks.

CHAD Preferred Shares Pay 13% Dividend

CHAD Preferred Shares paid their first dividend on October 1. The security currently has an annualized dividend yield of 13%, which is based on its $10 par value, equivalent to $1.30 per share per year. Dividends are announced by DeFi Development Corp. and distributed every business day.

The company positions the dividend yield to connect preferred stock financing with the productive use of its SOL treasury. Pledge and validator activities are designed to generate stable pledge rewards and network fees to support these obligations. However, DeFi Development Corp. emphasized that the market price of CHAD may deviate from its face value, so investors 'real yields may be higher or lower than the nominal dividend yield.

公司的金库管理与生产性的 SOL 质押相结合，旨在支持 CHAD 持续的股息义务，尽管投资者的实际回报取决于相对于面值的交易价格。

SOL 价格保持稳定，资本战略扩展

根据 CoinGecko 截至 10 月 6 日的数据，SOL 的价格在 120.40 美元附近交易，市值接近 710 亿美元，日均交易量约为 25 亿美元。该代币在过去七天内上涨了 1.9%，10 月 5 日的收盘价为 120.76 美元。这段稳定期为 DeFi Development Corp. 积累 SOL 提供了有利的环境，但没有迹象表明 CHAD 的公告本身影响了 SOL 的价格。

CHAD 面临的下一个挑战是持续在面值或以上交易，确保为未来的融资需求提供足够的流动性。DeFi Development Corp. 表示，最初创建 CHAD 是为了筹集资金以购买更多的 SOL，而无需通过发行新股稀释现有股东。回购提案通过在市场条件有利时启用可能的股份回购增加了灵活性，但其最终效果将取决于 CHAD 的市场价格轨迹、SOL 的表现以及管理层战略决策。

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