ETH Strategy is a DeFi treasury accumulation protocol that issues zero-interest convertible debt to build an ETH-denominated treasury and provide non-liquidatable leveraged ETH exposure via the STRAT equity token. ETH Strategy's Twitter Score is 105 out of 1000 (an Excellent rating) as of August 2026, ranking #6,712 (top 5%) among 483,944 tracked accounts.
ETH Strategy reimagines MicroStrategy-style convertible debt for DeFi by separating debt via a CDT instrument from conversion optionality via an option NFT, and making bonding, conversion, staking, and lending permissionless. The protocol's private presale raised 6,900 ETH at an implied mNAV of 1.069, and its public presale raised 1,242 ETH (approximately $4.5M) in roughly one hour before the team closed the sale. The STRAT ERC-20 token launched on Ethereum mainnet on July 29, 2025.
ETH Strategy operates ESPN (ETH Strategy Perpetual Note), a live ERC-4626 vault product that earns yield by bonding with the protocol and selling shorter-dated covered calls on Derive, hedged with long-dated convertible-note options. ESPN smart contracts were audited by Nethermind, and core protocol contracts completed two audits with reports pending permissionless launch. The protocol is governed via a nested Safe multisig hierarchy with a 3-of-5 root multisig, with governance decentralization on the roadmap.
ETH Strategy offered presale participants a two-week rage-quit window in early December 2025 to exit their initial ETH investment at a 20% discount rather than vesting into liquid STRAT. ETH Strategy is affiliated with Arrakis and was formerly affiliated with Oncred. ETH Strategy has 14,064 followers as of August 2026 and has published 794 posts. ETH Strategy has been mentioned by 51 accounts a total of 135 times.
Who follows ETH Strategy on X?
The accounts that follow ETH Strategy include 389 founders, 122 angel investors, 192 influencers and 10 VCs. Among them are Laura Shin, Stani, Andrew Kang, Joseph Lubin, Kain and Vance Spencer.