BTCS Tokenomics Strategy - BTCS implements a "stake-to-earn" campaign, paying dividends in ETH to address mNAV trading below 1 [1] - The "Bividend" offers $0.40/share in ETH, approximately a 93% yield at a $43 share price [1] - Step 1 involves a $005/share ETH Bividend for new buyers, incentivizing immediate purchase [1][4] - Step 2 includes a $035/share Loyalty Payment, requiring shareholders to hold shares with a 'transfer agent' until January 26, 2026 [4] Purpose of Transfer Agent - The transfer agent functions as a staking contract, removing shares from the circulating supply [2] - The official goal is to "protect against market manipulation" by preventing lending to short sellers [2] - The strategy also aims to promote crypto adoption [2] ETH Source and Market Reaction - ETH for dividends comes from BTCS's treasury, holding 70140 ETH valued at $300 million [2] - BTCS initially experienced a price pump upon the announcement, but retraced the gains a day later [2] - The strategy's effectiveness is questionable, as the initial pump was short-lived [2] Industry Implication - BTCS's tokenomic games illustrate potential strategies for DATs when mNAV is less than 1 [3]

Core Insights - BTCS Inc. has announced a strategic collaboration with Equity Stock Transfer, LLC to deliver a blockchain dividend, termed "Bividend," of $0.05 per share and a one-time loyalty payment of $0.35 per share, both payable in Ethereum (ETH) [1][2] - This marks the first Ethereum-based dividend issued by a public company, following BTCS's previous issuance of the first Bitcoin dividend as a Nasdaq issuer in 2022 [2][3] - The framework established by EST for the Bitcoin dividend will be utilized for the Ethereum dividend, ensuring compliance and efficiency [2] Company Overview - BTCS Inc. is a U.S.-based blockchain technology company focused on Ethereum, aiming to drive scalable revenue and ETH accumulation through its DeFi/TradFi Accretion Flywheel strategy [4] - The company combines decentralized finance (DeFi) and traditional finance (TradFi) mechanisms with blockchain infrastructure operations, including NodeOps (staking) and Builder+ (block building) [4] - BTCS offers sophisticated opportunities for leveraged ETH exposure, driven by scalable revenue generation and a yield-focused ETH accumulation strategy [4] Equity Stock Transfer Overview - Equity Stock Transfer (EST) is a New York City-based SEC-registered transfer agent providing a full suite of cap table management tools and services for publicly traded and private companies [5] - EST has been operational for over 10 years, offering services such as proxy management, virtual shareholder meetings, and online voting [5] - The company emphasizes intelligent automation and customer service, ensuring personal attention to its clients [5]

Corporate Action - BTCS 将向股东支付一次性区块链股息，即以太坊 (ETH) 形式的“Bividend”，每股 0.05 美元 [1] - BTCS 向将其股票转移到 book entry 的股东提供一次性每股 0.35 美元的以太坊忠诚度支付 [1]

Corporate Action - BTCS to issue a one-time blockchain dividend ('Bividend') of $0.05 per share in ETH [1] - BTCS offering a $0.35 per share loyalty payment for shareholders who transfer shares to the BTCS book and hold until January 26, 2026 [1]