The situation is that on the same day, suddenly two projects launched on Ethereum, both claiming to apply the "MicroStrategy strategy" to $ETH, both named "$ETH Strategy."

The model can be understood as issuing bonds to raise funds from the community, and then using the money to accumulate ETH. The bonds will offer discounts for buyers or can be exchanged for additional benefits at maturity.

The difference from MicroStrategy is that these projects may have their own tokens independent of the bonds, and allow the use of these tokens to participate in DeFi or even to be collateralized to borrow $ETH from the fund (potentially).

One project is known to have a founding team that includes Joseph Delong, the former CTO of SushiSwap and well-known in the Ethereum community, along with founder Justin Bram of the on-chain lending platform Astaria.

The other project has a whitepaper but has not announced its development team.

See more at:
https://t.co/x9pha5q4OH
https://t.co/smM79IykdG