TLDR DeFi Development authorized repurchases of current and future CHAD preferred shares. The company has no immediate plan to buy CHAD shares. Management wants CHAD to establish itself near
Nasdaq-listed DeFi Development Corp. has authorized an open-ended program to repurchase up to all outstanding CHAD preferred shares. The authorization also covers CHAD shares issued in the future. The company may use the program if the security trades below its $10 par value, but it has no current plan to start purchases.
Chief Executive Joseph Onorati said the company’s first goal is to help CHAD establish itself around par. Management wants the repurchase authority available as a capital-allocation tool if the preferred shares later fall below that level. The move follows recent Solana DEX volume growth across the wider network.
NEWS: Solana Treasury Company @defidevcorp, which holds ~2.53M $SOL in its treasury, has authorized a program to repurchase up to all outstanding CHAD preferred shares.
The company says it may buy back CHAD if it trades below its $10 par value, but does not currently plan to… pic.twitter.com/vMrR5xvQPe
— SolanaFloor (@SolanaFloor) October 6, 2026
The authorization sits alongside DeFi Development’s existing $300 million CHAD at-the-market program. The company has said it plans to use proceeds from CHAD sales to fund more SOL purchases. DeFi Development paid the preferred stock’s first dividend on Oct. 1, adding another step to the security’s launch. The authorization does not change the stated purpose of CHAD proceeds, which remains additional Solana treasury purchases.
DeFi Development also reported preliminary third-quarter figures showing growth in its Solana treasury. The company said net asset value per share more than doubled while holdings rose to about 2.56 million SOL over the past week. Its treasury model ties capital raising directly to the company’s ongoing plan to increase SOL reserves.
The company views CHAD as a longer-term source of capital rather than a single funding event. Its repurchase authorization does not require immediate action and gives management room to respond to future market pricing. The approach comes as Forward Industries expanded its SOL treasury during its fiscal fourth quarter.
DFDV shares gained about 3.3% during Tuesday’s trading session. The stock move followed Monday’s preliminary third-quarter update and the latest information on the company’s SOL holdings. DeFi Development remains one of the listed companies using digital assets as a major part of its treasury strategy, while Solana’s institutional settlement work continues to expand.
The CHAD plan gives the company another option for managing its preferred equity while keeping its SOL accumulation strategy in place. Investors will now watch where CHAD trades relative to par and whether the company eventually uses the authorization. The program can cover current and future CHAD shares without setting a fixed repurchase deadline.
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