I have been critical of treasury companies. But this is the right argument. Premium to NAV arbitrage won’t last for most. But if you have a strong onchain business, why wouldn’t you give equity-only investors easy access. 1x NAV with inflows is better than no access at all.
G | Ethena
G | Ethena25.7. klo 17.08
Seems as though the DAT phenomenon is quite divisive, wanted to share some thoughts on why we thought this was a worthwhile pursuit:
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