According to CoinMeta, the board of directors of Solana treasury company DEFI Development Corp (NASDAQ : DFDV) has authorized a CHAD preferred stock repurchase plan that allows for the repurchase of up to all issued CHAD at any time, and this authorization automatically covers future newly issued shares as well. The company stated that there is no actual repurchase plan at present, and the short-term goal is still to push CHAD back to its par value of around $10. If CHAD trades at a discount again in the future, the company may initiate a repurchase at an appropriate time. CHAD is its Variable Rate Series C perpetual preferred stock, with a current annual dividend yield of 13%.