Key facts
- DeFi Development Corp. acquired 26,203 SOL tokens worth approximately $3 million between Sept. 28 and Oct. 2.
- The company's total holdings increased to 2,564,212 SOL and SOL equivalents.
- DeFi Development Corp.'s treasury has grown 11% since Aug. 12, valued at $302 million.
- The pace of SOL acquisition has slowed, with the latest purchase being about half of the prior week's addition.
- DeFi Development Corp. paid its first 13% dividend on its CHAD preferred stock on Oct. 1.
DeFi Development Corp. (DFDV), a financial services and asset management company known for its significant Solana holdings, has acquired approximately 26,203 SOL tokens, valued at roughly $3 million, between September 28 and October 2. This acquisition follows a pattern of increasing its SOL reserves, though the pace of these purchases has slowed compared to previous weeks. The company's total holdings now stand at 2,564,212 SOL and "SOL equivalents," as disclosed in an 8-K filing on October 5. The Nasdaq-listed firm values its treasury at $302 million, representing an 11% increase since August 12. On October 1, DeFi Development Corp. also paid its first dividend of 13% on its CHAD preferred stock. The company, which applies Michael Saylor's Bitcoin strategy to Solana, runs its own validators and offers investors exposure to SOL through a regular brokerage account. It aims to provide magnified exposure to SOL's price movements. The company also has a $300 million at-the-market program and recently priced an IPO for its CHAD preferred stock, raising approximately $11 million. Preliminary third-quarter estimates indicate double-digit growth in SOL per share and total SOL since August 12, with net asset value per share growing over 100%. Previously known as Janover, a commercial real estate platform, the company pivoted to its current digital asset treasury model.