Degen

1/2 Hey degens, quick transparency update. The Foundation has been using part of the treasury to write call options and generate income. These are set well out of the money, so they only activate if $DEGEN goes up. If they do, a portion may convert to USDC. It’s a way to extend runway and stay self-funded. Around $3M notional is out now, but that changes month to month.

The Binance Alpha drop and some treasury activity came from the Airdrop 3 pool. We haven’t updated the tokenomics page yet, that’s coming soon. Plan is to shift more toward the ecosystem and future growth.

Appreciate the communication.

When did y’all start writing these options ?

Curious what the allocation to binance alpha was.

Would you share reason behind maintaining beefy rewards vs cutting or ending tipping allocations when you get a moment - aka no rush on a late Sunday night or early Monday AM

Thx

Growing veggies for the fine folks of Southeastern Massachusetts, w/ a focus on nutrient quality. Always interested in the evolution of digital payments.  🎩 

Writing call options can be risky, but not if you’re doing covered calls. Since we actually own a lot of $DEGEN, it’s basically risk-free for us. The only “risk” is that the options get exercised, but in that case we just sell the tokens and get paid a premium. Win-win.

All good Qs. Binance Alpha got 1% of supply, can’t share more. Call options started in May. Tipping is free money out with little return; LPs at least serve a market function, even if hard to price.