Overview

MegaStrategy has one goal: grow a shared BTC treasury over time.

Here's how the pieces fit together:

---

The Core Loop

┌─────────────────────────────────────────────────────────────┐
│                                                             │
│   You buy bonds  ──►  We buy BTC  ──►  Treasury grows       │
│        │                                      │             │
│        ▼                                      ▼             │
│   You get Note + Warrant            $MSTR value supported   │
│        │                                      │             │
│        ▼                                      ▼             │
│   At maturity:                       More bonds issued      │
│   • Note = principal back            to grow further        │
│   • Warrant = upside potential                              │
│                                                             │
└─────────────────────────────────────────────────────────────┘

---

Three Key Components

Component	What it is	Why it matters
BTC Treasury	All the Bitcoin the protocol holds	This is the real value backing everything
Bond Series	How we raise capital	You invest here and receive Note + Warrant NFTs
$MSTR Token	The protocol token	Used for governance, staker compensation, and reflects treasury value

---

Two Types of Bonds

	BTC Bonds	USD Bonds
You pay	BTC	USDT
You get back	BTC (at maturity)	USDT (at maturity)
Protection	Series proceeds	Series proceeds + Insurance Pool
Best for	Long-term BTC holders who also want to capture $MSTR upside	Those who want principal stability while capturing $MSTR upside — either by exercising Warrants or selling them

Both bond types give you a Note NFT (principal) and a Warrant NFT (upside).

---

What Makes This Different

No liquidations — Your position won't get force-closed if BTC drops.

Separated instruments — Note and Warrant are separate NFTs. Sell one, keep the other. Your choice.

Insurance-backed — USD bonds are protected by series proceeds plus a dedicated USDT Insurance Pool.

On-chain transparency — Treasury balance, bond terms, and settlements are all publicly verifiable.