Buying a Bond

Buying a bond is straightforward. You send capital, you receive NFTs.

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The Process

1. Choose a series (BTC or USD bond)
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2. Send subscription amount (BTC or USDT)
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3. Receive Note NFT (your principal claim)
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4. Receive Warrant NFT (your upside)
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Done — you're now a bondholder

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What You Need

Bond Type	You Send	You Receive
BTC Bond	BTC	Note NFT + Warrant NFT
USD Bond	USDT	Note NFT + Warrant NFT

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Example: Buying a BTC Bond

Series: BTC Bond Series A

You send: 0.01 BTC (when BTC = $100,000)

You receive:

• Note NFT — Claim for 0.01 BTC at maturity

• Warrant NFT — Right to receive $MSTR at strike price, based on $1,000 face value

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Example: Buying a USD Bond

Series: USD Bond Series B

You send: $1,000 USDT

You receive:

• Note NFT — Claim for $1,000 USDT at maturity

• Warrant NFT — Right to receive $MSTR at strike price, based on $1,000 face value

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What Happens to Your Capital?

BTC Bonds:

• Your BTC goes directly into the treasury

USD Bonds:

• Your USDT is converted to BTC

• BTC is held as series proceeds

• At maturity, BTC is sold back to USDT to repay you

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After Purchase

Once you have your NFTs, you can:

Action	Note NFT	Warrant NFT
Hold	Wait for maturity to claim principal	Wait for $MSTR to rise
Sell	Trade on secondary market	Trade on secondary market
Transfer	Send to another wallet	Send to another wallet

Your Note and Warrant are completely independent — do whatever you want with each.

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Next: During the Tenor — the period between purchase and maturity.