ETH StrategyIntroducing the Perpetual Note
The ETH Strategy Perpetual Note (ESPN) is a new yield primitive that transforms Ethereum’s natural volatility into an onchain yield stream.
ETH StrategyPreSaylor Unlocks
Overview, Plan, and New Treasury Lending Product
ETH StrategyPerpetual Debt Evolution
Our vision, has and continues to be that ETH is the best investment of the generation and a giga long that cannot be liquidated is the generational trade. We’ve raised 12,273 ETH (~$50M USD) to date, the next phase was to raise the debt required. What our initial equity raise unlocks for all STRAT holders is a coordination game of long-term ETH bulls ‘pooling’ their ETH together to demand better debt terms from the market that are not available individually. This is protocolised and done 100%...
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ETH StrategyIntroducing the Perpetual Note
The ETH Strategy Perpetual Note (ESPN) is a new yield primitive that transforms Ethereum’s natural volatility into an onchain yield stream.
ETH StrategyPreSaylor Unlocks
Overview, Plan, and New Treasury Lending Product
ETH StrategyPerpetual Debt Evolution
Our vision, has and continues to be that ETH is the best investment of the generation and a giga long that cannot be liquidated is the generational trade. We’ve raised 12,273 ETH (~$50M USD) to date, the next phase was to raise the debt required. What our initial equity raise unlocks for all STRAT holders is a coordination game of long-term ETH bulls ‘pooling’ their ETH together to demand better debt terms from the market that are not available individually. This is protocolised and done 100%...
Subscribe to ETH Strategy
>100 subscribers
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There’s a war happening, and Ethereum needs YOU.
ETH has become boring and institutionalized.
Nothing is happening natively onchain, all we have is scaling infrastructure efforts or tokenized real-world assets, mainly US treasuries (the most boring RWA of them all).
DeFi has taken a back seat; you simply swap, lend or borrow, no speculation, just risk-adverse utility. You know it's true when even Vitalik starts writing that vanilla DeFi has become too docile.
When it comes to holding ETH or ETH exposure, the only options are LSTs, or Lending ETH in AAVE. There is no new asset that can provide asymmetric ETH returns.
To conquer this we need to embrace Wartime Ethereum. We need to go to War.
Thus, ETH Strategy declares the War Games.
To make Ethereum mainnet great again and to push the bounds of financial engineering onchain.
Ethereum is under attack, and no one seems to care.
Institutions are gobbling up all our ETH, and everyone is cheering them on because they think it's the only way to impact price. The most bullish thing that can ever be done is using the chain itself to create financial alchemy that does the same thing, however democratizes the power of holding that ETH to anyone permissionlessly onchain vs having it all behind a board of directors.
STRAT does this for ETH. War games do this for STRAT.
Markets are driven by attention; stochastic rewards release more dopamine and hold people’s attention for longer. ETH Strategy’s War Games creates a prediction-trading game with leverage-like exposure to ETH. New participants will come to bet on a buyback and stay for the best long-term leverage exposure to ETH.
Right now, there is an ongoing fight to accumulate Ethereum. Although support from DATs and ETFs is welcome, Ethereum's value as a neutral settlement layer depends on distributed ownership. The only way to ensure the network's distribution and the survival of the cypherpunk principles on which it was built is to buy as much ETH as possible and demand it.
Are you going to let Wall Street buy all of your ETH?
ETH Strategy War Games weaponise the treasury to increase STRAT volatility, which the treasury can farm to accumulate ETH for STRAT holders.
The First War Game is STRAT staking, staking revenue from the treasury will be paid out to STRAT stakers. Rewards are paid out through Merkl. Buying and staking STRAT is ETH staking with leverage.
A key metric of success is trading volume and sell depth. Everything becomes easier with volume and TVL. Creating disproportiate staking rewards for STRAT makes it difficult to price. The price discovery will drive volume.
As volumes increase, we attract third-party liquidity providers, which naturally increases depth, which is required to support a premium to nav, which in turn is required to generate any form of EPS growth via protocol mechanics, which sustainably harvest the speculative premium into treasury growth for all STRAT holders (more on this later).
STRAT staking rewards are funded from ETH Staking rewards, and, in our opinion, is the best use of staking revenue for all STRAT holders. The guiding principle is to convert short-term volatility into EPS growth. We don’t care about the path, we all know ETH is going to 100k. Anyone can stake their yield, only STRAT can convert that into harvestable volatility.
There’s a war happening, and Ethereum needs YOU.
ETH has become boring and institutionalized.
Nothing is happening natively onchain, all we have is scaling infrastructure efforts or tokenized real-world assets, mainly US treasuries (the most boring RWA of them all).
DeFi has taken a back seat; you simply swap, lend or borrow, no speculation, just risk-adverse utility. You know it's true when even Vitalik starts writing that vanilla DeFi has become too docile.
When it comes to holding ETH or ETH exposure, the only options are LSTs, or Lending ETH in AAVE. There is no new asset that can provide asymmetric ETH returns.
To conquer this we need to embrace Wartime Ethereum. We need to go to War.
Thus, ETH Strategy declares the War Games.
To make Ethereum mainnet great again and to push the bounds of financial engineering onchain.
Ethereum is under attack, and no one seems to care.
Institutions are gobbling up all our ETH, and everyone is cheering them on because they think it's the only way to impact price. The most bullish thing that can ever be done is using the chain itself to create financial alchemy that does the same thing, however democratizes the power of holding that ETH to anyone permissionlessly onchain vs having it all behind a board of directors.
STRAT does this for ETH. War games do this for STRAT.
Markets are driven by attention; stochastic rewards release more dopamine and hold people’s attention for longer. ETH Strategy’s War Games creates a prediction-trading game with leverage-like exposure to ETH. New participants will come to bet on a buyback and stay for the best long-term leverage exposure to ETH.
Right now, there is an ongoing fight to accumulate Ethereum. Although support from DATs and ETFs is welcome, Ethereum's value as a neutral settlement layer depends on distributed ownership. The only way to ensure the network's distribution and the survival of the cypherpunk principles on which it was built is to buy as much ETH as possible and demand it.
Are you going to let Wall Street buy all of your ETH?
ETH Strategy War Games weaponise the treasury to increase STRAT volatility, which the treasury can farm to accumulate ETH for STRAT holders.
The First War Game is STRAT staking, staking revenue from the treasury will be paid out to STRAT stakers. Rewards are paid out through Merkl. Buying and staking STRAT is ETH staking with leverage.
A key metric of success is trading volume and sell depth. Everything becomes easier with volume and TVL. Creating disproportiate staking rewards for STRAT makes it difficult to price. The price discovery will drive volume.
As volumes increase, we attract third-party liquidity providers, which naturally increases depth, which is required to support a premium to nav, which in turn is required to generate any form of EPS growth via protocol mechanics, which sustainably harvest the speculative premium into treasury growth for all STRAT holders (more on this later).
STRAT staking rewards are funded from ETH Staking rewards, and, in our opinion, is the best use of staking revenue for all STRAT holders. The guiding principle is to convert short-term volatility into EPS growth. We don’t care about the path, we all know ETH is going to 100k. Anyone can stake their yield, only STRAT can convert that into harvestable volatility.
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