Terms at a Glance
The principal terms of the 100% Series S Perpetual Stress Preferred Token, summarised. This page is a summary and is qualified in its entirety by the fact that there is nothing further to qualify it against.
| Instrument | 100% Series S Perpetual Stress Preferred Token |
|---|---|
| Ticker | STRS |
| Stated amount | $1.00 per token |
| Cortisol rate | 100.00% per annum, cumulative |
| Dividend rate | None. The 100% is a certainty rate, not a dividend rate. |
| Payment frequency | Continuous |
| Payment form | Stress |
| Payment method | Delivered directly to the holder, without notice and without recourse |
| Distributions | None |
| Maturity | Perpetual |
| Redemption | None. There is no procedure by which a holder may exit other than sale. |
| Record date | Every trade |
| Next payout date | None scheduled |
| Missed payments | None to date. The rate has never been missed and cannot be. |
| Seniority | Junior to everything, including obligations that do not exist |
| Security | Unsecured. Uncollateralised. Unaccompanied. |
| Voting rights | None. Holders may express a view at any time and it will not be counted. |
| Conversion | Not convertible into anything, including cash |
| Use of proceeds | Tokenized MSTR, held in treasury permanently and shown to holders daily |
| Treasury access | None. Reporting is not entitlement; it is the delivery mechanism. |
| Supply burns | At Stragedy’s sole discretion, in any amount, without notice. Burns have occurred. They distribute nothing and entitle holders to nothing. |
| Treasury use | At Stragedy’s sole discretion, for any purpose it considers likely to maximise stress, or for no purpose at all. No obligation to disclose which. |
| Governing law | Estonia |
| Listing | Robinhood Chain |
| Transfer agent | The chain |
| Auditor | The chain |
| Investor relations | This website |
On the stated amount
The stated amount of $1.00 is the figure against which the cortisol rate is calculated. It is not a floor, a redemption value, or a representation that the token will trade at or near it. Its function is arithmetic. It has performed that function without interruption since inception.
On the cortisol rate
The 100% figure describes the cortisol, which is cumulative, and not the return, which does not exist. Omitted cortisol does not accrue; it is simply felt again. The rate is fixed, is not subject to board declaration, and has never been missed.
Terms are stated as of the date of this page and should not form the basis of any decision.
The 100% figure is a certainty rate, not a dividend rate. STRS pays no dividend, no yield, no interest, and no distribution of any kind.
Stress (STRS) is a token. It is not stock, not a share, and not a security offering. STRS makes no distributions.
Stress is a parody. It is not issued by, endorsed by, sponsored by, or affiliated with Strategy Inc., MicroStrategy Incorporated, or any of their officers.