Strategy Variable Rate Perpetual Stretch (Derivatives) (STRC)

One no-brainer improvement for $STRC and $SATA (but it obviously won't be very useful in the near-term) is to let it float above $100, maybe to $110

STRC is trying to defy the laws of physics by having both a stable price and a quasi-stable yield (in the sense that the yield moves extremely slowly) while being backed by a very volatile asset

This is something that can't work, and it results in increased volatility to the downside once BTC dumps, because the 'forced' ATM at $100 leads to the absorption of 'too much demand' at $100, and an inorganic increase of the market cap that happens too fast to get digested properly.

The other problem with guaranteeing the ATM at $100 is that it offers a zero-downside short trade (except yield+funding but these are very low on a short timeframe), while at the same time capping the upside for holders (they only get the volatility to the downside). It's sub-optimal on a lot of levels except on getting levered quickly at the expense of future price instability.

STRC being green with BTC making new lows means he's probably selling Bitcoin today

Now comes the really boring part for $STRC. Bears go FUD something else, Bulls don't feel comfortable enough to shill it hard yet.

So, it slowly grinds higher as people realize the sky isn't falling and double digit yield is available. How long this part takes, I don't know.