DeFi Development Corp authorizes open-ended CHAD preferred stock buyback program
Image: Crypto BriefingNasdaq-listed DeFi Development Corp approved an open-ended CHAD preferred stock buyback program on October 6, 2026. The program covers all existing and future CHAD shares, and only activates if the security trades below its $10 par value. The company has no immediate plans to execute repurchases. CHAD is DFDV's perpetual preferred stock, first sold in September 2026 with a 13% annual dividend. DFDV also runs a $300 million at-the-market program for CHAD issuances, with proceeds earmarked for Solana treasury purchases. Preliminary Q3 data shows the company holds 2.56 million SOL.
Key points
- The buyback program covers all current and future CHAD shares
- Repurchases will only occur if CHAD trades below its $10 par value
- DFDV has no immediate plans to execute CHAD buybacks
- DFDV uses CHAD sale proceeds to fund Solana treasury purchases
Why it matters
The program gives DFDV a capital allocation tool to manage CHAD share pricing while it continues accumulating Solana for its treasury. CHAD's trading level relative to its $10 par value will be a key metric for investors tracking the company's preferred equity.
Price context · SOL
At publication
$120.76
Now
$120.68
Change since
−0.07%
7 days · dashed line = publication
Sources · 3 publishers
The Block
Tier 1
Solana treasury DeFi Development authorizes CHAD preferred stock buyback program
Blockonomi
Tier 3
DeFi Development Clears CHAD Buybacks—But Not Yet
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by The Block
- CryptoVideos brief published
How this brief was made. Our system found this event in 3 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
