Quick take:
- The fundraising was in the form of ETH, with 6,900 raised via private sale and 1,242 ETH secured via a public sale.
- An additional 4,200 ETH was raised via Puttable warrants, according to the company’s post on X.
- ETH Strategy is a treasury accumulation protocol providing leveraged exposure to Ethereum.
ETH Strategy, the treasury accumulation protocol that provides leveraged exposure to Ethereum, has raised $46.5 million in pre-launch funding, according to an X platform post seen by NFTgators.
According to the announcement, the capital was raised across three distinct formations, all in ETH. The company secured 6,900 ETH via a private sale and a further 1,242 ETH via a public sale. An additional 4,200 ETH was raised via Puttable warrants.
The private and public sales offered 10,000 STRAT tokens per ETH with a lock-up period of four months, and a 2-month linear unlock from the token generation event. The Puttable warrant raise offered 8,333 STRAT tokens per ETH, with a four-month lock-up period and 2-month linear unlock from TGE.
ETH Strategy plans to deploy 11,817 ETH into ETH staking and protocol liquidity, with the remaining 525 ETH allocated for protocol growth and development, including retroactive and ongoing operational expenses, audits, contributor compensation, and community initiatives.
“This concludes our prelaunch raise and marks the beginning of our phased rollout for the protocol,” the company wrote in the X post.
STRAT token went live on Tuesday at 9:00 AM ET, while liquidity will be “launched on Uniswap v4 as a single-sided pool with an ATM mechanism to drive EPS soon,” according to a separate X post.
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