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SRM Entertainment, Inc. (Nasdaq: SRM) (“SRM” or the “Company”), the largest publicly traded holder of TRON (“TRX”) tokens in the world, today announced the successful staking of its treasury holdings of 365,096,845 TRON tokens (“TRX”) through JustLend which enhances TRX staking yield to up to 10% per annum by combining standard staking reward and energy renting. This move follows its closing of a $100,000,000 investment earlier this month to launch a TRON treasury strategy.
The Company is focused on creating long-term value for shareholders by capitalizing on the global adoption of cryptocurrency, blockchain and digital innovation. SRM recently appointed Weike Sun as Chairman of its Board of Directors and entered into agreement with TRON Blockchain Founder Justin Sun, who has joined its strategic advisory board. To further leverage the substantial TRX Treasury holdings, SRM plans to implement a dividend policy. The Company plans a name change to TRON Inc. to better reflect its new strategy.
“The TRON treasury strategy continues to unlock new value for our shareholders. We expect SRM to benefit as Blockchain technology gains wider adoption globally. TRON is an industry leader for cross border settlement in US dollar stablecoin which is great for our shareholders,” said Rich Miller, Chief Executive Officer of SRM.
About SRM Entertainment, Inc.
SRM Entertainment designs, develops, and manufactures custom merchandise which includes toys and souvenirs for the world’s largest theme parks and other entertainment venues. Many of SRM’s creative products are based on award winning multi-billion-dollar entertainment franchises that are featured in popular movies and books. SRM products are distributed worldwide at Walt Disney Parks and Resorts, Universal Parks and Destinations, United Parks and Resorts – SeaWorld, Six Flags and other attractions.