Who is CHAD?
Earn 13% annual dividend, paid daily.
Available on Nasdaq. Issued by DeFi Development Corp., a Nasdaq-listed treasury management company.
*13% represents CHAD's initial annual dividend rate calculated on its $10.00 target price. Regular dividends are designed to be paid each business day, when, as, and if declared. The dividend rate is variable and subject to the governing terms of the security.
Where to buy it
Buy it where
you already invest.
Charles Schwab
Fidelity
E*TRADE
Robinhood
Webull
Public
Interactive Brokers- …and any broker with Nasdaq access
Broker availability, eligibility, fees, and trading access vary by provider and jurisdiction. CHAD is not affiliated with, sponsored by, or endorsed by any brokerage listed here.
The actual answer
So, tell me
about CHAD…
CHAD is a stock you buy in a brokerage account, like Robinhood or E*TRADE. But unlike a normal stock, CHAD is a preferred stock — it acts like a normal stock but pays a daily dividend that's equal to 13% a year.
Listed on Nasdaq since Sept. 8, 2026Daily dividend payments begin Oct. 1, 2026
The ticker
CHAD
Trading on Nasdaq since September 8, 2026. Search the ticker in your brokerage.
The dividend rate
13.00%
A year, to start. Worked out on CHAD's fixed $10.00 target price — not on whatever a share costs today. That's $1.30 a share, a year.
Dividends
Are always owed
CHAD is cumulative: every dividend accrues in your favour and stays owed to you until it is paid.
How often you get paid
Every business day
Not monthly. Not quarterly. Every day the market is open — when the board declares it.
Can the rate change?
Yes
DeFi Development Corp. can raise it over time. Reductions are limited — the rate can't be cut by more than 50 basis points at a time.
Does it ever end?
No end date
There's no maturity date and no payback date. You hold it, or you sell it, like any other stock.
*Regular dividends are designed to be paid each business day, when, as, and if declared. Business days only — no regular dividend payments are scheduled on weekends or market holidays.
CHAD is DeFi Development Corp.’s Variable Rate Series C Perpetual Preferred Stock — that is the formal name for it. Everything above is that name, in plain English. CHAD has traded on Nasdaq under the ticker CHAD since September 8, 2026; its first regular dividend payment date is October 1, 2026.
What it's for
Think income.
What CHAD is built to do
- Pay you on a schedule you can actually feel — every business day.
- Earn $1.30 per share per year at the initial 13% rate.
- Sit in a normal brokerage account, bought and sold like any other stock.
- Being a preferred stock, CHAD sits ahead of ordinary stock when dividends are paid out.
What it isn't
- It isn't a savings account, a bank deposit, or a cash equivalent, and it isn't FDIC-insured.
- The dividend is set by DeFi Development Corp.'s board.
- It isn't a growth stock — it's built to pay income.
- Just like any investment, CHAD is not risk-free.
The part people remember
Payday is
every day.
- MonMDividendDiv
- TueTDividendDiv
- WedWDividendDiv
- ThuTDividendDiv
- FriFDividendDiv
- SatS—
- SunS—
*Regular dividends are designed to be paid each business day, when, as, and if declared. Business days only — no regular dividend payments are scheduled on weekends or market holidays.
What payday could look like.
Put in an amount and see what the dividend works out to. Income is calculated on CHAD's fixed $10.00 target price — not on the market price — so the number of shares your money buys is what drives it.
Type an amount, drag the slider, or pick one below.
CHAD price
—
Delayed. As of —.
Buys 1,206.3 shares
Dividend income, at the initial rate
- Per business day
- $6.22
- Per month
- $130.68
- Per year
- $1,568.15
Calculated on the fixed $10.00 target price — 1,206.3 shares × $10.00 × 13.00%. That works out to 15.7% of what you put in, in a year, if every dividend is declared and the rate holds.
Hypothetical — if CHAD trades up to $10.00
- Gain from $8.29 to $10.00
- $2,062.73
- Combined with a year of dividends
- $3,630.88 · 36.3%
This is an illustration, not a forecast and not a target. CHAD may never trade at $10.00, and it may trade below what you paid. Nothing obliges DeFi Development Corp. to move the price there.
What this assumes
- Dividend income assumes the 13.00% initial annual rate is held for a full year and every dividend is declared and paid. The rate is variable and no dividend is guaranteed.
- Daily figures divide the annual dividend across roughly 252 business days. Actual per-day amounts vary and no dividend is scheduled on weekends or market holidays.
- The "if CHAD reaches $10.00" figure is a hypothetical illustration of a move from the current market price to the target price. It is not a forecast, not a target, and not a commitment. DeFi Development Corp. has stated an intention to adjust the dividend rate in a way it believes will keep CHAD trading between $9.95 and $11.00, but it disclaims any obligation to achieve that and may abandon the intention.
- The illustration ignores taxes, brokerage fees, commissions, and any reinvestment of dividends. It is not a projection of your actual results.
CHAD's $10.00 target price is the fixed figure its dividend rate is calculated on — referred to as the stated amount in the offering documents. It is not a guarantee of market price: CHAD may trade above or below it. DeFi Development Corp. has stated it intends to support CHAD trading around $10.00, and under its at-the-market program has stated a current intention to sell new shares at not less than $9.95 or more than $11.00 per share.
Market data is delayed and shown for illustration only. Prices change continuously.
How it gets paid
Where the money
comes from.
Years of dividend coverage
149
Years
Measured against DeFi Development Corp.'s liquid assets — what it holds, its cash, and the dedicated reserve. Asset values move, so this figure moves with them.
Published by DeFi Development Corp. as of September 15, 2026.
Dedicated cash
$1.30 a share
Cash set aside at closing for one purpose — paying the CHAD dividend. Not an asset valuation.
Which covers
12 months
A full year of dividends at the 13% rate, funded before the first payment.
Behind that
The balance sheet
Dividends are an obligation of DFDV, supported by everything the Company holds.
Two different measures: the years figure counts assets, this counts cash.
What supports the dividend
CHAD dividends are obligations of DFDV and are supported by the Company's overall financial resources. DFDV's treasury is managed to be productive rather than to sit idle, generating recurring income that the Company expects to contribute to the cash generation available to support its preferred-dividend obligations.
What it is not
- CHAD is not secured by those cash flows or by any specific company assets, and dividends remain subject to declaration by the Board and the availability of legally available funds.
- DFDV's treasury assets are general corporate assets. They are not pledged to CHAD holders and give CHAD holders no lien or security interest. CHAD is preferred equity, not secured debt.
- The coverage figure is an illustration of potential dividend coverage. It is not a measure of liquidation value, asset coverage, solvency, or amounts legally available for distribution, and it does not deduct the Company's debts or other obligations that rank ahead of CHAD.
- A dividend reserve does not represent a guarantee of future dividend payments.
DFDV calculates years of dividend coverage as its treasury net asset value, plus cash and cash equivalents, plus the 12-month CHAD dividend reserve, plus estimated annual organic yield, divided by CHAD's stated notional multiplied by the 13% annual dividend rate. It is a measure of the Company's total assets set against the dividend obligation — not of cash on hand. The figure moves with the value of those assets.
Dividends on CHAD are payable only when, as, and if declared by DeFi Development Corp.’s Board of Directors, out of funds legally available for payment. Nothing on this page is a representation that any dividend will be declared or paid.
The company behind it
Okay…
but who’s behind CHAD?
Listed on Nasdaq
DeFi Development Corp. trades publicly as DFDV, under the same listing standards as any other Nasdaq company.
Files with the SEC
Audited financials, risk factors, and material events are filed publicly and can be read by anyone.
Independent board
A majority-independent board with audit, compensation, and nominating committees.
Treasury management
A treasury management company whose business is putting its balance sheet to productive use.
Who runs it
Built by a team of
industry veterans.
Joseph Onorati
Chief Executive Officer
Former Chief Strategy Officer at Kraken, where he served from 2016 to 2024. Previously founded a crypto market maker and was interim CEO of CaVirtEx. Holds a master's in economics.
John Han, CFA
Chief Financial Officer
Over 15 years in finance. Formerly CFO of a unicorn blockchain company, VP of Finance at Binance, and Head of Strategic Finance at Kraken. Began his career in equity research at Goldman Sachs.
Dan Kang
Chief Strategy Officer
Leads strategy, corporate development, and capital markets, and heads investor relations. Formerly Head of Strategy at Kraken, with nearly a decade on the buy side and time at Morgan Stanley.
Pete Humiston
Chief Marketing Officer
Leads marketing, content, and communications. Previously was marketing & content lead at various start-ups, as well as Head of Research at Kraken. Began his career in equity research sales at Jefferies.
Full biographies, board composition, and governance documents are published by DeFi Development Corp. in its investor relations materials.
The obvious question
So what’s
the catch?
It's how the company raises capital
DeFi Development Corp. sells CHAD shares to raise money for general corporate purposes, working capital, and strategic initiatives. The dividend is what it pays for that capital — the same way a company pays interest on a loan.
New shares get sold in a narrow band
Under its at-the-market program, DeFi Development Corp. has stated its current intention to sell new CHAD shares at a price per share "not less than $9.95 or more than $11.00." It reserves the right to issue at another price.
So don't buy it expecting the price to run
If the company keeps supplying new shares around $10.00, that supply works against the price climbing far above it. CHAD is built to pay you an income, not to appreciate. Anyone selling you CHAD as a growth story has the wrong end of it.
The company's interests point the same way
DeFi Development Corp. can keep raising capital cheaply only while CHAD trades near $10.00. It has stated it intends to adjust the dividend rate — a decision its board makes at least monthly, at its sole discretion — in a way it believes will keep the trading price inside that range.
Stated intention for new share sales
$9.95to$11.00
The band DeFi Development Corp. has said it currently intends to sell new CHAD shares within. It is an intention, not a promise.
Read this part too
DeFi Development Corp. has explicitly disclaimed any obligation to achieve this and reserves the right to abandon the intention entirely. There is no assurance that CHAD will trade at or near $10.00, and the price can fall below it — as it can for any share. The dividend rate can move down as well as up, though it cannot be cut by more than 50 basis points at a time.
Terms described here are drawn from the CHAD prospectus and the at-the-market prospectus filed with the SEC. Those documents govern; this is a summary.
Straight answers
CHAD questions.
Answered.
CHAD is a stock you buy in a brokerage account, like Robinhood or E*TRADE. But unlike a normal stock, CHAD is a preferred stock — it acts like a normal stock but pays a daily dividend that's equal to 13% a year. Formally it is DeFi Development Corp.'s Variable Rate Series C Perpetual Preferred Stock.
CHAD began trading on Nasdaq on September 8, 2026, and its first regular dividend payment date is October 1, 2026. It is a new security with a short trading history, which is worth weighing alongside everything else on this page.
Yes — a type of stock called preferred stock. The difference from an ordinary share is what it's built for: ordinary shares are mostly about the company growing in value, while preferred shares are mostly about paying you a dividend. Preferred dividends also get paid before ordinary shareholders receive anything.
It means $1.30 a year per share, to start. The rate is worked out on a fixed $10.00 figure — 13.00% of $10.00 is $1.30. That is a dividend rate, not a promised return, and not a yield on whatever you paid for the share.
No. DeFi Development Corp. can change the rate over time under the terms of the security. There is a limit on how fast it can fall — it cannot be cut by more than 50 basis points at a time. The offering documents describe exactly how it works.
It means dividends are designed to be paid on business days — every day the market is open — rather than once a month or once a quarter. It does not mean seven payments a week.
No. Regular dividends are designed to be paid on business days only. Nothing is scheduled on weekends or market holidays.
The same way you'd buy any other stock: search the ticker CHAD in your brokerage account and place an order. It has traded on Nasdaq since September 8, 2026. Availability and fees vary by broker.
No. You can buy a single share. The $10.00 target price is the figure the dividend is calculated on — the market price you actually pay can be higher or lower.
Neither. CHAD has no end date and no repayment date — it isn't a bond. You hold it for as long as you want and sell it if you want out. DeFi Development Corp. can also choose to buy it back at $11.00 a share, or more, plus any dividends still owed.
It means dividends accrue in your favour. Under the terms of the security, any regular dividend that has not been paid continues to accumulate and remains owed to you. It does not mean any dividend is guaranteed — each one still has to be declared by the board.
No, and it matters that you know that. Dividends are payable only when, as, and if declared by DeFi Development Corp.'s Board of Directors, out of funds legally available to pay them. DeFi Development Corp. stated it intends to set aside a 12-month dividend reserve at closing, but a reserve is not a guarantee.
CHAD dividends are obligations of DFDV and are supported by the Company's overall financial resources. DFDV's treasury is managed to be productive rather than to sit idle, generating recurring income that the Company expects to contribute to the cash generation available to support its preferred-dividend obligations. CHAD is not secured by those cash flows or by any specific company assets, and dividends remain subject to declaration by the Board and the availability of legally available funds.
No. CHAD is a share traded on an exchange. It is not a savings account, a bank deposit, a money market fund, or a cash equivalent, and it is not FDIC-insured. Its price can go down, and you can lose money — including the entire amount you invest.
Yes. The market price of CHAD can fall below what you paid, dividends may not be declared, and in a worst case you could lose your entire investment. The offering documents set out the risks in full, and you should read them before investing.
That depends on your own circumstances, and you should ask a tax advisor — but there is one feature specific to CHAD worth knowing. DeFi Development Corp. currently expects that CHAD distributions may be treated as a return of capital for U.S. federal income tax purposes, to the extent those distributions exceed the Company's current and accumulated earnings and profits. A distribution treated as return of capital is generally not taxed as income when you receive it; instead it reduces your cost basis in the shares, which can defer tax until you sell. There is no assurance that any particular distribution will be treated this way, the treatment of a distribution may not be known until after the end of the tax year, and none of this accounts for state or local taxes or your individual situation.
DeFi Development Corp., a treasury management company listed on Nasdaq as DFDV. As a public company it files audited financials and risk disclosures with the SEC, and it has a majority-independent board.
The prospectus and DFDV's SEC filings contain the complete terms and the full list of risks. Links are in the footer of this page. This site is a plain-English explainer — it is not an offer to sell or a solicitation to buy any security.