DeFi Development Corp. Announces CHAD Preferred Stock Now Tokenized in Partnership with xStocks - The Manila Times
DeFi Development Corp. (Nasdaq: DFDV) has announced its Variable Rate Series C Perpetual Preferred Stock (Nasdaq: CHAD) has been tokenized as CHADx in partnership with xStocks.
The tokenized product, CHADx, is a 1:1 tokenized version of CHAD, backed by CHAD shares held in custody. It is offered through xStocks and is not issued by DeFi Development Corp. The launch represents a natural next step in the movement of public assets onchain, expanding access and adding a new venue alongside Nasdaq.
Tokenizing CHAD makes the Company's preferred stock far more accessible. Eligible investors can now hold CHADx in a wallet, trade it onchain, and gain economic exposure to CHAD beyond a traditional brokerage account, including outside regular market hours.
How CHADx Works
CHADx is a tokenized representation of CHAD and does not confer ownership of the underlying CHAD shares or shareholder rights. CHAD remains the Company's Nasdaq-listed Variable Rate Series C Perpetual Preferred Stock. Holders of CHAD receive cash dividends in a brokerage account when, as, and if declared and paid.
On CHADx, those daily dividends are designed to be reflected automatically through an increase in the token holder's balance each trading day. Availability of CHADx varies by platform and jurisdiction.
Expanding Access
The launch of CHADx follows DFDVx, the tokenized version of the Company's common stock, and brings DFDV's preferred, digital-credit product into the same onchain environment. CHAD is a central component of DFDV's capital markets strategy, introducing a digital credit instrument designed to combine a variable dividend rate with business-day payments.
Effective November 2, 2026, CHAD's annual dividend rate is 14.00%, equivalent to $1.40 per share based on its $10.00 stated amount. 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.
Since its Nasdaq debut in September, CHAD has progressed toward broader distribution and has traded at its $10.00 stated amount in record time relative to competing digital credit products.
Company Background
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.
Related
