DeFi Development Corp. (NASDAQ: $DFDV) grew its Solana (CRYPTO: $SOL) treasury by 3,983 SOL over the past week, bringing total holdings to about 2,590,266, the company announced Monday. The disclosure came two days before Alpenglow, a major upgrade to Solana's consensus protocol, is scheduled to go live.
Alpenglow targets transaction finality of roughly 150 milliseconds, down from about 12.8 seconds, shrinking the time it takes for a transaction to become irreversible. The company contends the change could make Solana transactions feel as fast as a card payment while retaining the round-the-clock settlement of a decentralized network. It also argues that faster finality will matter more as tokenized equities and other real-world assets expand on the blockchain.
Separately, the company is raising the annual dividend rate on its Variable Rate Series C Perpetual Preferred Stock, known as CHAD, to 14% from 13%, effective Nov. 2. On CHAD's $10 stated amount, the new rate works out to $1.40 per share annually, about 7.7% more than the current payout. Dividends are cumulative and payable each business day if and when the board declares them.
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CEO Joseph Onorati framed the increase as both an income offering and a tool for building the treasury. He said he believes Solana is entering a significant new growth cycle and that CHAD's higher rate arrives ahead of what he thinks could be a major bull market for SOL. The aim, he added, is to make the preferred stock more appealing to income investors while expanding the company's capacity to accumulate SOL for common shareholders.
DeFi Development describes itself as the first U.S. public company with a treasury strategy built around accumulating and compounding SOL. It stakes its holdings and runs its own validator infrastructure, earning staking rewards and fees from delegated stake. The company also operates an AI-powered platform that sells software subscriptions to commercial real estate professionals.
Shares of DeFi Development Corp. (NASDAQ: DFDV) are currently trading at $3.77.
