DeFi Development Corp.'s CHAD Reaches Par Just Seven Weeks After Launch

CHAD's annualized dividend rate will rise to 14.00%, increasing the preferred dividend cost for DeFi Development.

Rhea-AI Summary

DeFi Development (Nasdaq: DFDV) announced its CHAD preferred stock reached par for the first time, closing at $10.00 on October 26, 2026.

The close came 48 days after trading began on September 8. The company said sustained trading near or above CHAD's $10 stated amount could improve future preferred issuance economics, supporting additional Solana (SOL) purchases without increasing the common share count. SOL staking rewards may help offset preferred dividend costs.

CHAD's annualized dividend rate increases from 13.00% to 14.00% effective November 2, 2026. Dividends are cumulative and payable each business day when, as, and if declared by the board; they are not guaranteed.

Positive

• Minor pointCHAD closed at $10.00 on October 26, reaching par for the first time after 48 days.
• Minor point. Forward-looking: it has not happened yet and may not happen.Future preferred issuances could fund SOL accumulation without additional common shares if trading remains near or above $10.
• Minor point. Forward-looking: it has not happened yet and may not happen.SOL staking rewards may help offset preferred dividend costs.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.CHAD's annualized dividend rate increases from 13.00% to 14.00% effective November 2, 2026.

Key Figures

CHAD closing price: $10.00 per share Annualized dividend rate: 14.00%, increased from 13.00% Time to reach par: 48 days

CHAD closing price

$10.00 per share

October 26, 2026; reached par for the first time since trading began

Annualized dividend rate

14.00%, increased from 13.00%

Effective November 2, 2026

Time to reach par

48 days

After CHAD's trading debut

Previous Crypto Reports

2 past events · Latest: Oct 15

Same Type 2 events

1. Oct 15

   Dividend rate increase

   24h Move

   +6.9%

   Raised CHAD's annual dividend rate from 13.00% to 14.00%, effective November 2.

2. Oct 08

   CHAD offering program

   24h Move

   -2.8%

   Established a $300 million CHAD at-the-market program for potential preferred capital.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

perpetual preferred stock, par, proof-of-stake, cumulative dividends

4 terms

perpetual preferred stock financial

"Variable Rate Series C Perpetual Preferred Stock"

A perpetual preferred stock is a type of share that behaves like a forever-lasting, fixed-income investment: it pays regular dividends and has no set maturity date, yet it represents ownership rather than a loan. It ranks ahead of common stock for dividend payments and in liquidation, so investors treat it as a mix between a bond and an equity stake; its value depends largely on the issuer’s credit and prevailing interest rates.

par financial

"reaching par for the first time since trading began"

"Par" is the value assigned to a bond or stock when it is first issued, often representing its face or original price. For bonds, it typically means $1,000, which is the amount the issuer promises to pay back at maturity. Knowing the par value helps investors understand if they are buying or selling at a premium (more than par) or a discount (less than par).

proof-of-stake technical

"Solana's proof-of-stake network"

A proof-of-stake system is a way a cryptocurrency network decides who can add new records to its shared ledger by selecting participants based on how many tokens they hold and commit as collateral, rather than on who can solve hard math puzzles. For investors this matters because it affects returns and risks — staked tokens can earn steady fees or rewards like interest, while the system’s energy use, speed, and rules for slashing or locking tokens influence value, liquidity, and regulatory scrutiny.

cumulative dividends financial

"CHAD dividends are cumulative and payable each business day"

A feature of some dividend-paying securities—most often preferred shares—where any dividends the issuer skips or defers are recorded and must be paid later before other shareholders receive dividends. Think of it like missed subscription payments that pile up and must be settled first. For investors this matters because it increases the likelihood of receiving owed income and gives these holders priority on company cash, affecting income reliability and risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOCA RATON, Fla., Oct. 27, 2026 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the "Company" or "DeFi Dev Corp."), the first U.S. public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced that its Variable Rate Series C Perpetual Preferred Stock (Nasdaq: CHAD) closed at $10.00 per share on October 26, 2026, reaching par for the first time since trading began on September 8, 2026.

The milestone comes just 48 days after CHAD's trading debut, representing what the Company believes to be the fastest progression to par among digital credit securities to date. Reaching par marks an important step toward establishing CHAD as a scalable source of capital to fund additional SOL accumulation without increasing DFDV's common share count.

“Reaching par in just seven weeks is a major milestone for CHAD and an important step toward accelerating our capital markets flywheel,” said Joseph Onorati, Chief Executive Officer of DeFi Development Corp. “Unlike bitcoin, SOL generates native staking rewards, providing an additional source of recurring economic value that can help support our preferred dividend obligations. We believe this gives our digital credit strategy a differentiated foundation as we work to scale CHAD and grow SOL Per Share.”

Accelerating the DFDV Flywheel

CHAD is designed to complement DFDV's common equity by providing an additional source of permanent capital for SOL accumulation. Sustained trading near or above its $10 stated amount could improve the economics of future preferred issuances, allowing the Company to expand its SOL treasury without issuing additional common shares.

Unlike digital credit structures built around non-yield-generating assets, DFDV's SOL holdings can generate native staking rewards through participation in Solana's proof-of-stake network. These rewards provide a recurring source of economic value that may help offset preferred dividend costs, reinforcing the Company's strategy of translating capital markets activity into SOL accumulation and long-term SOL per share growth.

CHAD Dividend Rate Increasing to 14%

The milestone comes ahead of CHAD's previously announced annualized dividend rate increase from 13.00% to 14.00%, effective November 2, 2026.

CHAD dividends are cumulative and payable each business day when, as, and if declared by the Company's Board of Directors. The dividend rate may be adjusted over time, and dividends are not guaranteed.

About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is also an AI-powered online platform that connects the commercial real estate industry by providing value-add services and software subscriptions to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage. The Company’s data and software offerings are generally offered on a subscription basis as software as a service.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding SOL per share growth; future SOL holdings; anticipated changes in borrowings and liquidity; future SOL accumulation and per-share accretion; future adoption of Solana, tokenized assets and stablecoins; capital raising and deployment; the anticipated issuance price of shares under the CHAD ATM program; future CHAD dividend rates and the declaration and payment of CHAD dividends; the intended use of proceeds; and the Company’s ability to expand its SOL treasury and increase revenue. These statements can be identified by words such as "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on these forward-looking statements.

Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated losses that the Company may incur as a result of a decrease in the market price of SOL; (ii) a failure of demand for SOL, or activity on the Solana network, to continue to develop and grow as we anticipate or at all; (iii) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iv) the effect of and uncertainties related to the ongoing volatility in interest rates; (v) our ability to achieve and maintain profitability in the future; (vi) the impact on our business of the regulatory environment and complexities of complying with such environment, including changes in securities laws or other laws or regulations; (vii) changes in the accounting treatment relating to the Company's SOL holdings; (viii) our ability to respond to general economic conditions; (ix) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (x) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth; (xi) risks relating to CHAD, including that the dividend rate may be adjusted, that dividends are payable only when declared, that CHAD may trade below its stated amount, that the trading price of CHAD may be volatile, that the Company may be unable to sell CHAD under the CHAD ATM at or above its stated amount, and that staking and validator rewards may be insufficient to support dividend payments; and (xii) other risks and uncertainties more fully described in the sections captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K, the prospectus supplement for the CHAD ATM and other reports we file with the SEC.

As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this press release are made as of its date, and the Company undertakes no duty to update such information except as required under applicable law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Offers and sales of CHAD under the CHAD ATM are made only by means of the prospectus supplement and accompanying prospectus forming part of the Company’s effective shelf registration statement on Form S-3 filed with the SEC.

Investor Contact:
ir@defidevcorp.com

Media Contact:
press@defidevcorp.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did DeFi Development's CHAD preferred stock first reach par?

CHAD first reached par at its $10.00 closing price on October 26, 2026. That was 48 days after trading began on September 8, 2026.

What is DeFi Development's new CHAD dividend rate and when does it take effect?

CHAD's annualized dividend rate increases from 13.00% to 14.00% effective November 2, 2026. Dividends are cumulative and payable each business day when, as, and if declared by the board. The rate may be adjusted over time, and dividends are not guaranteed.