@apyx_fi team arbing ethereum:0x98a878b1cd98131b271883b390f68d2c90674665 by buying on @CurveFinance and redeeming (because only those who has WL, KYC and $25M can), earning delta between NAV and secondary markets price. Curve pool and DAO earning decent fees too.
This week's bitcoin dip has triggered STRC to fall beneath $99. In this video, I walk through the math of how Strategy's bitcoin reserve gives me confidence that they will be able to pay STRC dividends for decades...
Cash & Equivalents category must have been disclosured before.
I previously pressed you for details about the contents of this category, and you assured me several times that it was your brokerage account containing bonds and cash equivalents, and that you couldn’t show them to me. No word about preminted apxUSD.
I don't understand why he sold so little this time, since he didn't have the money to buy at a lower price after the dump. It just doesn't make sense. If you're going to sell, you should do it to pay dividends and get cash for purchases. But now there’s no cash, the price is falling, and you can’t get new loans through STRC until the price returns to 100.
It looks like he’ll have to sell more MSTR or BTC at a lower price than he could have in May and dilute the NAV.
What's the next move?
I don't understand why he sold so little this time, since he didn't have the money to buy at a lower price after the dump. It just doesn't make sense. If you're going to sell, you should do it to pay dividends and get cash for purchases. But now there’s no cash, the price is falling, and you can’t get new loans through STRC until the price returns to 100.
It looks like he’ll have to sell more MSTR or BTC at a lower price than he could have in May and dilute the NAV.
$HYPE vs $LIT: Buyback speed relative to MCAP
Both protocols route nearly all revenue into token buybacks. But relative to their size, the pace differs.
Unlock schedules (supply side)
$HYPE: Monthly unlocks on the 6th to core contributors. Current run-rate roughly 0.4–1.2M HYPE per month (team has discretion to reduce). Over the past ~30 days: ~400k–1M added to circulating supply. Buybacks removed the equivalent of ~730k HYPE in the same period — largely offsetting or exceeding the inflow. Net pressure stays manageable.
$LIT: Team (26%) + Investors (24%) have a 1-year cliff + 36-month linear vest. TGE was late Dec 2025, so big unlocks start late Dec 2026 / early Jan 2027, then spread gradually over three years. No major insider cliff in 2026. Airdrop portion already circulating.
Net takeaway: LIT has the faster relative buyback engine right now and clean unlock runway through 2026. HYPE carries steady monthly unlocks but the buyback machine absorbs most of it. Both structures are deflationary — just on different timelines and scales.
Data: DefiLlama + Tokenomist vesting schedules.
$HYPE vs $LIT: Buyback speed relative to MCAP
Both protocols route nearly all revenue into token buybacks. But relative to their size, the pace differs.
Unlock schedules (supply side)
$HYPE: Monthly unlocks on the 6th to core contributors. Current run-rate roughly 0.4–1.2M HYPE per month (team has discretion to reduce). Over the past ~30 days: ~400k–1M added to circulating supply. Buybacks removed the equivalent of ~730k HYPE in the same period — largely offsetting or exceeding the inflow. Net pressure stays manageable.
$LIT: Team (26%) + Investors (24%) have a 1-year cliff + 36-month linear vest. TGE was late Dec 2025, so big unlocks start late Dec 2026 / early Jan 2027, then spread gradually over three years. No major insider cliff in 2026. Airdrop portion already circulating.
Net takeaway: LIT has the faster relative buyback engine right now and clean unlock runway through 2026. HYPE carries steady monthly unlocks but the buyback machine absorbs most of it. Both structures are deflationary — just on different timelines and scales.
Data: DefiLlama + Tokenomist vesting schedules.
$HYPE vs $LIT: Buyback speed relative to MCAP
Both protocols route nearly all revenue into token buybacks. But relative to their size, the pace differs.
Unlock schedules (supply side)
$HYPE: Monthly unlocks on the 6th to core contributors. Current run-rate roughly 0.4–1.2M HYPE per month (team has discretion to reduce). Over the past ~30 days: ~400k–1M added to circulating supply. Buybacks removed the equivalent of ~730k HYPE in the same period — largely offsetting or exceeding the inflow. Net pressure stays manageable.
$LIT: Team (26%) + Investors (24%) have a 1-year cliff + 36-month linear vest. TGE was late Dec 2025, so big unlocks start late Dec 2026 / early Jan 2027, then spread gradually over three years. No major insider cliff in 2026. Airdrop portion already circulating.
Net takeaway: LIT has the faster relative buyback engine right now and clean unlock runway through 2026. HYPE carries steady monthly unlocks but the buyback machine absorbs most of it. Both structures are deflationary — just on different timelines and scales.
Data: DefiLlama + Tokenomist vesting schedules.
@phtevenstrong MSTR sells BTC to have money to pay STRC div > STRC falling. Whats the logic of selling it here?
Also I read that semi-montly divs are need to be voted, but possibly there will no quorum for it.