On August 31, DeFi Development Corp (DFDV), a treasury asset manager in the Solana ecosystem, announced plans for a public offering of up to $20 million in Series C perpetual preferred shares. The capital raised will go toward growing its SOL holdings and backing related crypto investments.

What DFDV Announced

DFDV is rolling out perpetual preferred shares (Series C) at a $10 face value per share. According to the press release, dividends will be paid at a floating annual rate, starting at 13%. The first regular dividend payout is set for October 1, 2026.

Offering Details

Each share comes with a $10 nominal value. These are Series C perpetual preferred shares, and the dividend model is a floating rate starting at 13% per year. Payouts kick off October 1, 2026. The total raise could hit $20 million.

Why They’re Raising

DFDV plans to use the funds to boost its SOL position and expand into other related crypto assets. For the market, this signals targeted demand for SOL from a corporate player focused on the Solana ecosystem, and could speed up network infrastructure projects if DFDV executes at scale.