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defi

Decentralized Finance (DeFi) refers to a financial services ecosystem based on blockchain technology, aimed at providing traditional financial services such as lending, trading, and insurance through smart contracts and decentralized applications (DApps). The core feature of DeFi is the absence of intermediary institutions, allowing users to conduct financial transactions directly on the blockchain, thereby reducing costs, increasing transparency, and enhancing security. Ethereum is one of the most active platforms for DeFi applications, with numerous decentralized exchanges (DEX), lending platforms, and stablecoin projects forming the foundation of its ecosystem.
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Flash

first_img Solana Treasury Company DeFi Development Authorized CHAD Preferred Stock Buyback Plan

According to The Block, Nasdaq-listed Solana Treasury company DeFi Development Corp. (DFDV) announced that it has approved an open-ended buyback plan to repurchase all outstanding shares of its CHAD preferred stock, including any shares that may be issued in the future.The plan gives the company flexibility to repurchase when the trading price of CHAD is below the $10 par value. The company stated that it does not intend to immediately buy back CHAD but hopes that the preferred stock will stabilize near the par value first.DeFi Development CEO Joseph Onorati stated that the company's primary goal is simple: to bring CHAD back to par value. He mentioned that this is not an announcement to buy CHAD today, but rather to set up the infrastructure, so that once CHAD stabilizes near par value, if it subsequently falls below par, the company will have an additional tool available. He also stated that the company views CHAD as a long-term financing platform rather than a one-time issuance.This open-ended authorization adds a potential funding allocation tool to DeFi Development's existing $300 million At-the-Market (ATM) issuance plan for CHAD, which the company previously stated would be used to raise funds for increasing its holdings of SOL. The company paid the first dividend on CHAD on October 1.Additionally, the company stated on Monday that preliminary estimates for the third quarter show that as its Solana Treasury increased to 2.56 million SOL over the past week, the net asset value per share has more than doubled compared to before. DFDV's stock price rose 3.3% during Tuesday's trading session.
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