Mega Matrix Files $ 2B 2B to finance Stablecoin Treasury Strategy star-news.press/wp

Mega Matrix, a holding company in public, which turned into digital assets, provided a $ 2 billion shelf with the US Securities and Exchange Committee (SEC) to finance the treasury strategy that focuses on Stablecoin, which confirms how more companies experienced by digital asset reserves.

This funding targets the ethana Staplecoin environmental system, while directing revenues towards assembling the ENA governance code (Ena) for the protocol. MEGA MATRIX said this step is designed to give the company to the revenue resulting from Stablecoin synthesis from Ethaina, while also providing influence on protocol governance, said Mega Matrix.

In SEC phrases, the rack of the shelf is an organizational file that allows the company to register the securities for the future version, allowing it to sell parts of its shares over time instead once.

In its announcement, the company confirmed that the strategy focuses “exclusively on the Ena, and the effect and return focus on one of the one digital assets.”

Instead of directly USDE, Mega Matrix plans to build an important site in the Ena, which can benefit from the mechanism of “changing fees” for Ethina-the ONSAIN feature that, as soon as it is activated, is distributed a share of protocol revenues for Ena holders.

The company pointed to the rapid growth of Circle, one of the leading sources in Stablecoin, and the rise of the digital treasury strategies as engines for its plan to focus on Ethina.

He also referred to the American genius law, which prohibits exporters to pay the return directly to Stablecoin holders. Ironically, the restriction has fueled the demand for artificial alternatives, such as USDE from Ethaina.

“Specifically because the genius law prevented exporters from providing the return directly to holders, investors turn to the car bearing Stable Stablecoins to get the return,” Julio Moreno, head of Cryptoquant Research, told Cointelegraph.

The Ethina model is different from the FIT -backed Stablecoins such as USDC (USDC) or USDT (USDT). Usde is artificial stablecoin designed to keep the dollar connecting with a mixture of loved guarantees with permanent futures. This structure allows the protocol to generate the return of financing rates in the derivative markets.

Although he is still smaller than his guaranteed competitors, Ethaina’s growth was amazing. In August, developer Etheina Labes stated that the revenues of the cumulative interest of the protocol exceeded $ 500 million.

Usde has since rose to become the third largest Stablecoin in the world, with a market capitalist of $ 12.5 billion, according to CoinMarketca.

Related to: The bank lobby “feels panic” around the carrier Stablecoins-Professor NYU

The Ministry of Digital Treasury companies acquire traction

The recording of the shelf in Mega Matrix is ​​worth $ 2 billion as an unusually large for a company of its size. The company is currently about $ 113 million, with the revenues of the first quarter Slide To $ 7.74 million and net losses to $ 2.48 million. Its basic works remain Flextv, which is a short flow platform.

Its role towards the digital cabinet strategies for assets is completely unexpected, after months that the company spent $ 1.27 million to buy Bitcoin (BTC) in June.

However, Mega Matrix is ​​not alone in looking at the digital assets as a strategy for public paper. Many smaller companies have added either coded currencies to treasury bonds or their entire axis towards digital asset holdings.

Modern examples are Etzella, a previous biotechnology company that has accumulated hundreds of millions of ether (ETH) through a combination of financing strategies. Other companies that follow the similar paths include indulging techniques in the image and Sharplink and Digital games.

Despite its growth, the Ministry of Digital Treasury asset strategies carry significant risks, according to Josep Robna, CEO of lending company Milo. Speaking to CointeleGRAPH, RUPENA compared the form to guaranteed debt obligations – complex financial products that played a major role in the 2008 financial crisis.

He said: “There is this aspect where people take what is a beautiful product, and a mortgage per day or Bitcoin and other digital assets today, for example, start their engineering, and descending them in a direction that the investor does not make sure of the exposure they get.”

Related to: The chasing ETH Treasury is the most vulnerable: Corporal CEO