Degen clarified on the X platform: The foundation has been using some funds to issue call options and generate income, the settings of these options are far below the out-of-the-money level and will only take effect when DEGEN rises. If DEGEN rises, some options may be converted to USDC, which is a way to extend the runway and maintain self-raised funds. At present, there is a nominal issuance of about $3 million, but it changes every month.
