According to The Block, Solana treasury firm DeFi Development has authorized an open‑ended program to repurchase CHAD preferred stock when the shares trade below their $10 par value. The decision was made by DeFi Development on behalf of the Solana treasury and allows the firm to purchase additional shares under the program without a predetermined limit on the number of shares to be bought back. No further details regarding timing, pricing mechanisms, or anticipated volume were provided in the source material.
The buyback can only proceed if CHAD preferred stock is trading beneath its stated par value of $10. The program remains open‑ended, meaning DeFi Development retains the ability to execute repurchases as market conditions permit, without an internally set maximum amount of shares to be acquired. No estimates or forecasts about potential share activity were included in the reported facts.
