After using 1.38 billion yuan in cash reserves to repurchase bonds last week, Micro Strategy still has $870 million left on its books. If it can sustain up to 6 months based on the current STRC dividend payment situation, and just announced the sale of 32 BTC to desensitize the market today, does this mean that Micro Strategy's game can only be played for 10 months at most before it collapses? Don't forget that in March this year, the micro strategy announced an over-the-counter financing of up to $44.1 billion. 18 channels are non-stop looking for bullets for the micro strategy, and related derivative projects such as Saturn, whose TVL was nearly $250 million less than two months after its launch, have contributed more than $100 million of ammunition to the micro strategy. At present, 87% of the funds are allocated to STRC, which can obtain a yield of 11.5% for the micro strategy, and the remaining 13% of the cash can obtain a yield of 3.3% for treasury bond. These two returns will be superimposed and distributed to its stable currency pledgers. As long as the micro strategy does not explode and default, this is the highest yield of low risk in the current currency circle. In other words, the risk of taking 11.5% interest from STRC and the risk of taking 3% interest from lending counterfeit currency to Defi agreement is the difference between WeChat strategy and AAVE. At present, the issuance of STRC has exceeded 10 billion US dollars and is still expanding. The underlying layer is collateralized by BTC, Ethena captures ETH funding rates, and Saturn captures Bitcoin arbitrage transactions through tokenization of STRC. If we were to create a stablecoin with Ethena's scale and more than 10% cash dividend income, there would be a lot of room for imagination. The main STRC Fi mode is "taken from the people and used for the people" It's much better to use money from micro strategies to pay interest to the cryptocurrency circle, and then raise funds from the cryptocurrency circle to provide ammunition for micro strategies, than those Pixiu who are just pumping water from the cryptocurrency circle .. Saturn is probably not far from TGE either. It has received investment from YZi Labs and has now expanded to the Binance chain, giving a 20% point bonus to all BNB activities. For example, on Pendle, Ethereum's LP-USDat is 30x, and on BNB it is 36x. As of June 6th, the YT and LP point multiplier for USDat/sUSDat on Pendle will also double directly, and then return to the original multiplier