DeFi Development is a publicly listed company centered on Solana asset allocation. Its CHAD preferred shares carry a par value of $10 per share. The company recently approved an open-ended buyback plan, allowing management to initiate repurchases whenever CHAD trades below that par value on the open market.
The plan has no set expiration date, nor has the company disclosed a total buyback amount or share cap. The trigger is simply tied to the gap between share price and par value — once it drops below $10, the buyback mechanism can kick in.
Further details on DeFi Development and the CHAD preferred shares, including when the plan will be activated and the scale of execution going forward, have not yet been disclosed by the company.
