DeFi Dev Corp (DFDV) · updated 2026-10-19 18:08 UTC · prices delayed
CHAD is DeFi Development Corp's preferred, backed by a SOL (Solana) treasury. It has a $10 stated amount (not $100) and pays a variable rate every business day when declared: 13% through October, rising to 14% for November (first 14% payment Nov 2, 2026) ($0.00614 per share per business day). It isn't convertible, and DFDV can redeem it.
Key risk: It's backed by SOL, which has historically been more volatile than BTC or ETH.
| Issuer | DeFi Dev Corp (DFDV) (SOL-backed) |
| Dividend rate | 13.00% variable, reset monthly; 14.00% for periods from nov 1 (first 14% payment nov 2) |
| Pays | Daily (business days) |
| Stated amount | $10 |
| Cumulative | Yes |
| Last price (delayed) | $9.61 |
| Effective yield | 13.53% |
| Next payment | $0.00614/sh paid 2026-11-02 (record 2026-10-30; declared) |
| Tax character | ROC expected |
DeFi Dev Corp (DFDV) pays about $2.2M a year across its preferreds (CHAD). Its treasury of 2,590,266 SOL (as of 2026-10-16) is worth about $270.1M, which is roughly 122.0 years of SOL coverage and a 0.82% yearly breakeven SOL return.
Coverage = treasury value ÷ annual preferred dividends. Holdings source.
What is CHAD's dividend?
CHAD pays a 13.00% annual dividend rate (variable) on its $10 stated amount, paid daily (business days). At the last price of $9.61 that is an effective yield of 13.53%.
Is CHAD cumulative?
Yes. Missed dividends accrue and are owed later.
How well covered is CHAD's dividend?
DeFi Dev Corp (DFDV)'s SOL treasury covers about 122.0 years of its annual preferred dividends at current prices (treasury value ÷ annual preferred dividends).
Effective yield = rate × stated amount ÷ price. Prices: Yahoo Finance (delayed). Crypto: CoinGecko. Terms, shares and holdings: issuer SEC filings. PrefWatch is independent and not affiliated with any issuer. Not investment advice.
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