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Investing.com -- SRM Entertainment (NASDAQ:SRM) stock rose 8% after the company announced it has successfully staked its treasury holdings of over 365 million TRON tokens through JustLend, enhancing potential yield to up to 10% per annum.
The staking move follows SRM’s recent $100 million investment to launch a TRON treasury strategy, positioning the company as what it describes as "the largest publicly traded holder of TRON tokens in the world." The company is combining standard staking rewards with energy renting to maximize returns on its cryptocurrency holdings.
SRM is focusing on creating long-term value by capitalizing on cryptocurrency adoption and blockchain innovation. The company has appointed Weike Sun as Chairman of its Board of Directors and added TRON Blockchain Founder Justin Sun to its strategic advisory board.
"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.
To further leverage its TRX holdings, SRM plans to implement a dividend policy and intends to change its name to TRON Inc. to better reflect its new strategic direction.
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