DeFi Development (DSDV) Investor presentation summary

Solana investment thesis

• Solana is framed as “digital energy”: fast, low-cost infrastructure for transactions, stablecoins, tokenized assets and AI-agent activity.

• Reported Solana metrics include 1,496 average TPS in 2026, $1.4B in 2025 real-fee revenue, 41B transactions in 2026 YTD and 2.4M active users in November 2026.

• Solana’s average fee is listed at $0.003 per transaction, with 1,500 sustained TPS; figures are sourced to Token Terminal as of Nov. 11, 2026, and exclude vote transactions from TPS.

• An internal supply forecast estimates 750M circulating SOL could narrow to 75M free float after staking, DeFi locks, institutional holdings and app reserves.

Common equity strategy

• DFDV common is positioned as accessible, listed amplified SOL exposure, using intelligent leverage and a strategy to grow SOL per share (SPS).

• Treasury size is listed at $220M+; equity returns post-treasury launch at >400%; SPS grew 22.8% from Aug. 12 to Sept. 30, 2026, using a constant $117.99 SOL price. SPS growth is not shareholder return.

• The strategy combines staking yield and leverage without management fees; illustrative staking yields are 6%+ for DFDV, 5.0% for an ETF and 3.2% for spot.

• Long-duration financing is presented as avoiding margin calls and forced liquidation triggers against core treasury assets; leverage can magnify losses as well as gains.

• In an illustrative five-year boom-bust sequence, a $10,000 investment ends at $121.9K for DFDV, $50.5K for BSOL, $36.0K for spot and $6.4K for a 2x SOL product; not guidance.

CHAD preferred security

• CHAD’s current variable annual dividend rate is 14% of its $10 stated amount, cumulative, with payments each business day when and if declared; the rate and payments are not guaranteed.

• CHAD is a preferred security with a claim on residual assets, not collateralized by SOL holdings, and not FDIC insured; investor yield depends on purchase price and the applicable dividend rate.

• A stated 100+ years of dividend coverage uses gross assets of ~$243.3M divided by ~$2.2M annual dividends; the calculation excludes debt and other liabilities and is not a guarantee of funding.

• CHAD is intended to raise perpetual capital that can expand the SOL treasury and support the common-equity growth cycle.