ETH STRATEGY: LEVERAGED EXPOSURE TO ETHEREUM

Summary from the TLDR Crypto newsletter

ETH Strategy is an autonomous onchain treasury protocol that mirrors MicroStrategy's convertible debt model, allowing users to deposit stablecoins in exchange for STRAT, a leveraged ETH token with no liquidation risk. Leverage is provided through long-term bonds and option NFTs, which fuel treasury growth only when real value enters the system. Deposited ETH is put to work earning yield while STRAT holders govern bond control, treasury allocations, and liquidity incentives. The result is permissionless, composable DeFi-native leverage designed for institutional-grade sustainability.