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ETH Strategy

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One of our users did an awesome trade last week, replacing their Spark position with STRAT bonds. They made their ETH exposure unliquidatable, and increased capital efficiency by 78%.

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What is a convertible note? An option on ETH or STRAT, plus $1 of debt per CDT. Sell the CDT to keep ETH upside, but access liquidity or use it to loop for more upside.