Clear Signal to $BTC, $MSTR, and $STRC Holders: 1. Limit $MSTR ATM near 1x mNAV, only use it if needed 2. Will max sell $1.25B of $BTC under his new framework 3. $STRC buybacks + $2.55B of Cash reserve + $1.25B of $BTC reserve + 50 bps increase. The goal is to keep the peg long term. Wow.

In this moment of temporary $sUSDat + $STRC volatility, I want to remind users that Saturn’s model was designed to be anti-fragile in moments like this. At the core of Saturn is a two-token model: 1. $USDat is a 100% T-bill-backed stablecoin designed to let users move in and out of sUSDat with minimal depeg risk, even during periods of STRC volatility. 2. $sUSDat is a yieldcoin that is designed to track $STRC. Users can stake and unstake at NAV, with an expected 7-day unstaking period, provided the limit order is placed below the market order. sUSDat takes on the STRC volilitity and is designed to float. Saturn intentionally segregates this risk. So the key question is: what backs STRC? STRC has temporarily traded below par, and I understand why users are watching it closely. But it is important to remember that STRC is not backed by confidence alone. It is supported by real assets on Strategy’s balance sheet - Bitcoin and cash. A few points worth keeping in mind: 1. STRC remains meaningfully backed by Strategy’s balance sheet. Even at current prices, STRC has roughly a 3.2x BTC collateral ratio, implying an estimated 31.25% LTV. In simple terms, for every $1 of STRC and senior obligations, there is approximately $3.20 of Bitcoin value supporting it. 2. Strategy has substantial balance sheet resources. Strategy currently holds around $900M in cash and approximately 844K BTC on its balance sheet. 3. STRC has a liquidation preference. In a very remote bankruptcy scenario, STRC holders have a liquidation preference of $100 per share against Strategy’s available assets, including Bitcoin on the balance sheet. Actions that Saturn is taking: 1. We are currently defending the USDat/USDC peg on Curve (Ethereum) 2. If users are looking to redeem sUSDat we are processing requests through the queue. Volatility is opportunity and Saturn is here to build STRCFi for the long term.Temporary volatility can feel uncomfortable, but the structure matters. The assets matter. The collateral matters. Saturn was built for stressed markets, not just calm ones.

"If it's backed by Bitcoin but you'll never sell it, it means nothing" Kevin on why Strategy committing to sell Bitcoin is the best thing that could have happened for STRC and MSTR holders "If you don't make a commitment to sell it then it's meaningless. From a credit side they're not going to underwrite it as a 25% LTV" "Selling Bitcoin to buy back the share when there's a discount to MNAV is a great way to capture additional Bitcoin per share increase" "Saylor committing to sell if it's below one MNAV actually gives equity holders more long-term value in holding the stock" "It's not healthy for the market to bank on Strategy never selling. If it's good for STRC and MSTR holders then by transitivity it's good for Bitcoin"

Enhanced $STRC powered digital credit yield with Strata’s structured yield products juiced up with @saturn_credit & Strata rewards. Senior USDat (srUSDat) • Fixed 7.8% USD yield • No volatility • Up to 15x Gravity + 60x Strata Points on @pendle_fi Junior USDat (jrUSDat) • Boosted dividend yield • Leveraged $STRC exposure • Up to 10x Gravity + 20x Strata Points on Pendle Digital Money. Digital Yield. Powered by Stra-turn.

Strong response on USDat's IY off the back of @saturn_credit's S1 clarification. To highlight: 📌 5% S1 supply 📌 30x Points for YT-USDat 📌 36x Leverage That's 1,080x effective point leverage for one of the forerunners in this STRC-powered digital credit bonanza Pendle

After tranching $STRC with @Strata_markets, srUSDat and jrUSDat are live on @Pendle_fi. Pendle users can now access fixed and variable rate strategies on srUSDat and jrUSDat. First maturity: August 26, 2026.

1. Selling $BTC to fund the dividend is good for $STRC - it reinforces the commitment to pay and defend the peg. Also it strengthens the credibility of the metric BTC ratings 2. Selling $BTC to buy back stock below 1.0 mNAV is good for $MSTR shareholders - it signals they are willing to defend the 1.0x mNAV floor 3. If these actions are good for $STRC and $MSTR, then they are ultimately good for $BTC

.@Saylor's STRC has been quietly building one of the most compelling RWA yield ecosystems onchain Pendle has been the fixed yield layer for every major STRC-linked asset, now we're going further with @strata_markets structured products: - srUSDat (Aug 2026) - jrUSDat (Aug 2026)

For longer dated maturities with similar STRC exposure, PT-sUSDat by @saturn_credit is an EXCELLENT alternative 13.44% fixed APY puts this sucker at 3.7x T-bill rate Not too shabby Not too shabby indeed

If you want to see how a watermark rate gets reclaimed, observe sUSDat's yield as of last week After periods of 0% APY We now have periods of EXPLOSIVE APY For pre-dump YT holders, you earned more-or-less STRC's headline rate. For opportunists, do what needs to be done Pendle