Luna didn't have yield either, their shitcoin did. they sold luna token to pay yield on anchor protocol
saylor sells mstr token to pay yield on preferred share protocol
literally identical setup
Discussion
Gotcha
Isn’t this just how credit works? You hold investors’ collateral and pay them interest/dividends for the loss of opportunity to use their funds otherwise?
The differences between Luna and MSTR are: it’s on sound money rails (vs fiat collateral-based loans), MSTR enjoys mainstream institutional credibility, and MSTR is incentivized to practice long time preference based on Saylor’s demonstrated analysis and integrity.