DeFi Development Buys 3,983 More SOL, Bringing Total Holdings to 2.59 Million
Summary
- DeFi Development said it added 3,983 SOL and SOL-equivalent assets over the past week, bringing its total holdings to 2,590,266 SOL.
- The company said it made the purchase ahead of Solana's Alpenglow consensus protocol upgrade, which it expects will cut transaction finality times from about 12.8 seconds to 150 milliseconds.
- DeFi Development said it generates staking rewards and fee income by operating validator infrastructure, and will raise the annual dividend rate on its floating-rate Series C perpetual preferred stock 'CHAD' to 14% from 13%.
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DeFi Development Corp. (DFDV), a Solana treasury company, added 3,983 SOL and SOL-equivalent assets over the past week.
As of Oct. 19, the company held a total of 2,590,266 SOL and SOL-equivalent assets, according to DeFi Development.
The purchase came ahead of Solana's Alpenglow consensus protocol upgrade, scheduled for Oct. 21. The upgrade aims to reduce transaction finality times to about 150 milliseconds from roughly 12.8 seconds.
DeFi Development said shorter finality times could increase Solana's use in on-chain financial services, including payments, trading and tokenized assets. The company also operates validator infrastructure directly, generating staking rewards and fee income in addition to holding SOL.
Separately, DeFi Development plans to raise the annual dividend rate on its floating-rate Series C perpetual preferred stock, CHAD, to 14% from 13% starting Nov. 2. The annual dividend will be $1.40 per share, based on a $10 reference amount.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.