Slide 1: Mega Matrix Inc. September 2025
Mega Matrix Inc. (NYSE American: MPU) September 2025
Slide 2: Forward-looking statements
This presentation and other written or oral statements made from time to time by representatives of Mega Matrix Inc. (sometimes referred to as “Mega Matrix”) contains forward - looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Re
Slide 3: Investor Notice
Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward - looking statements described under “Risk Factors” in our most recent annual report on Form 20 - F, filed with the SEC
Slide 4: Mega Matrix Targets to be the No.1 Stablecoin Focused DAT Company
Mega Matrix Targets to be the No.1 stablecoin Focused DAT Company
Slide 5: To Develop Digital Asset Treasury Strategy on Leading Stablecoin Governance Token
To Develop Digital Asset Treasury Strategy on Leading Stablecoin Governance Token
Slide 6: Stablecoin: Future of Digital Dollar
Note: 1. Standard Chartered: Stablecoin Market Could Grow to $2T by End - 2028 Source: https:// www.coindesk.com/markets/2025/04/15/stablecoin - market - could - grow - to - usd2t - by - end - 2028 - standard - chartered Stablecoin : Future of Digital Dollar
Slide 7: Mass Adoption in Stablecoin
$273B Market Cap 1 $3.56T Monthly Transfer Volume 2 33M+ Monthly Active Addresses 3 190M+ Number of Holders Mass Adoption in Stablecoin Note: 1. Sum of circulating market cap of all tracked stablecoins as of Aug 31 st , 2025 2. Sum of value transferred on - chain across all tracked stablecoins in th
Slide 8: With Huge Growth Potential
With Huge Growth Potential Source: Standard Chartered ”Stablecoins: The first killer app” (https://av.sc.com/corp - en/nr/content/docs/sc - stablecoins - the - first - killer - app.pdf) At present, stablecoins are equivalent in size to only and just . As the sector becomes legitimized, a move to mea
Slide 9: Primary Strategic Reserve Asset under Mega Matrix's DAT Strategy
As the 1 st Primary Strategic Reserve Asset under Mega Matrix’s DAT Strategy
Slide 10: Ethena and $ENA key metrics
$4.36B $ENA Market Cap 15B Total $ENA Supply $12.33B USDe Supply $1.49B USDtb Supply 19% sUSDe APY 2024 24 Chains Accepted 784K Users 9% sUSDe APY current Ethena is a Leading DeFi Protocol on Ethereum, Issuing Crypto - Native Digital Dollars, whose governance token is $ENA Source: CoinMarketCap, htt
Slide 11: Ethena is the issuer of USDe
▪ Ethena is the issuer of USDe, the 3rd largest digital dollar behind Tether (USDT) and Circle (USDC), and manages the issuance of USDtb, the 8th largest digital dollar. Source: DefiLlama.com as of Aug 31 st , 2025 Note: 1. While USDtb is issued by a third party, Ethena Labs created the architecture
Slide 12: USDe and USDtb digital dollars
- 3rd largest tokenized dollar asset - Offering relative stability to USD, without reliance on traditional banking - Peg stability supported via delta - neutral hedging of crypto assets - Revenue is generated from staking and funding rates - Collateral held in "Off - Exchange Settlement" solutions t
Slide 13: USDe mint and redeem mechanism
Web3 Wallets ▪ Ethena’s USDe is a crypto - native synthetic dollar utilizing spot assets as backing, on - chain custody, and centralized liquidity venues Centralized Exchanges OES Providers USDe Redeem Receive USDT USDe Mint Deposit USDT Protocol Source: https://docs.ethena.fi/how - usde - works
Slide 14: Ethena Protocol Revenue Explanation
Funding & Basis Spread When minters provide assets in minting USDe, Ethena opens corresponding short derivatives to hedge the delta of the received assets. Historically, there has been a positive funding rate & basis spread earned by participants who are short this delta exposure. Staking Ethereum S
Slide 15: System Backing Venue Breakdown
USDe Total Supply Total Backing (+ Reserve Fund) Protocol Backing Ratio 31.0% 10.3% 4.1% 54.1% 0.5% SOL 25.0% 15.0% 2.0% 8.0% 50.0% Binance Bybit OKX Deribit Unallocated BTC ETH ETH LSTs Liquid Stables Source: https://app.ethena.fi/dashboards/transparency Note: As of Aug 31 st , 2025 System Backing
Slide 16: $ENA governance, staking and utility
Governance Re - staked $ENA sENA $ENA holders votes to elect members of the Risk Committee, which then votes on key protocol decisions, including risk management and asset allocation Infrastructure Security & Utility • Re - stake via Symbiotic pools • Cross - chain transfers using LayerZero messagin
Slide 17: Risks related to $ENA holdings
• $ENA is a highly volatile asset, and MPU’s operating results may significantly fluctuate, including due to the highly volatile nature of the price of $ENA and erratic market movements. • MPU operates in a highly competitive environment and will compete against other companies and other entities wi
Slide 18: Mega Matrix Inc.
Mega Matrix Inc. (NYSE American: MPU)