DAT firms evolve from crypto holders into distribution platforms
- —StablecoinX holds about 20% of Ethena's total token supply
- —StablecoinX CEO: DATs are no longer vehicles to promote a single token
- —Hyperion DeFi earns by providing capital and infrastructure to Hyperliquid
- —Panel proposes valuing DATs on mNAV plus revenue, customers and ARR
Why it matters: The shift in the DAT model could make crypto treasuries more resilient and change how investors value them.
Source: Bloomingbit