DeFi Development Corp buys 8,881 SOL, lifting treasury to roughly 2.609 million

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The Nasdaq-listed Solana treasury firm extends its weekly buying streak to nine straight weeks, funded in part by a 14% preferred stock

Mon 9 Nov 2026 · 10:37 EST · 3 min read

In DeFi

DeFi Development Corp. (NASDAQ: DFDV) added another 8,881 SOL to its treasury. Its total holdings now stand at approximately 2,609,829 SOL.

That figure is up from 2,600,948 SOL.

The company reported the update on November 9, 2026. It marks the ninth consecutive week of SOL purchases since September 14, 2026.

The details behind the latest buy

The 8,881 SOL figure covers SOL and SOL equivalents. Equivalents typically mean staked or liquid-staked forms of the token rather than raw SOL sitting idle.

The latest tranche is noticeably larger than the company’s recent weekly additions. Earlier purchases came in at 5,336 SOL in late October and 5,346 SOL in early November 2026.

The point isn’t the size of any one buy, though. The company is optimizing for a specific metric: SOL per share, or SPS.

Think of SPS as how much SOL each share of DFDV effectively represents. If the company grows its SOL faster than it issues new shares, each shareholder’s slice of the treasury gets bigger.

DFDV pursues that goal through three channels. It buys SOL outright, earns staking rewards, and runs validator operations.

The validator piece deserves a quick translation. Solana relies on validators, which are computers that confirm transactions and keep the network running.

Validators earn rewards and fees for doing that job. DFDV operates its own, which means part of its SOL growth comes from running network infrastructure rather than buying on the open market.

CEO Joseph Onorati reiterated the company’s commitment to a consistent growth strategy. He stressed continued SOL accumulation alongside expansion of the firm’s holdings.

How DFDV pays for the habit

One of DFDV’s funding tools is a preferred stock called CHAD.

CHAD is a variable-rate series of preferred shares. As of November 2, 2026, it carried an annual dividend of 14%.

Preferred stock sits between common equity and debt. Holders typically get paid dividends before common shareholders, but they usually don’t get the same upside if the company’s value surges.

The appeal of this structure for DFDV is straightforward. Issuing preferred stock can raise capital without diluting common shareholders the way new common shares would.

That matters for SPS. Less dilution of the common stock makes it easier for SOL per share to climb as the treasury grows.

The firm has raised hundreds of millions of dollars through various raises since 2025 to support its treasury strategy.

From real estate software to Solana treasury

DFDV didn’t start life as a crypto company. It was formerly Janover Inc., a real estate software firm.

The company rebranded in April 2025 and pivoted to digital assets. Since the pivot, DFDV has drawn attention as the first US public company to center its treasury strategy on SOL. It has also rolled out financial products aimed at yield-seeking investors, with CHAD as the most visible example.

What this means for investors and the Solana ecosystem

For DFDV shareholders, the core question is whether SPS keeps rising. Weekly purchases, staking income, and validator fees all push SOL holdings higher.

Financing costs push the other way. A 14% preferred dividend has to be covered, and the variable-rate structure means that rate can change over time.

The model works best when the value of SOL accumulated, plus staking and validator income, comfortably outpaces what the company pays to raise capital.

There are clear risks to watch. A treasury concentrated in one token ties the company’s fortunes closely to that token’s price and to the health of the Solana network.

The things to track from here are simple. Watch whether the weekly streak continues, how the CHAD dividend rate moves, and whether SPS keeps climbing as new capital comes in.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.