Strata

Some DeFi users want predictable yield. Others want amplified upside. Until recently, both were stuck in the same blended APY — with hidden risk baked in.

Strata redesigns that equation ⚡

Strata is a risk-tranching protocol for crypto-native yields , built on top of Ethena ’s USDe and sUSDe. Instead of pooling everyone into the same return stream, it restructures that yield into two liquid, on-chain exposures aligned to distinct risk profiles.

Users deposit USDe or sUSDe on the Strata app , and mint one of two tranches:

• srUSDe — LOW RISK · MODERATE RETURN — a senior tranche with priority on cash flows and principal-protection mechanics

• jrUSDe — HIGH RETURN · MODERATE RISK — a junior tranche that absorbs first losses in exchange for amplified upside potential

The senior tranche is designed for more stable yield exposure, while the junior tranche acts as the risk-absorbing layer and earns a premium for taking that role.

Strata has undergone multiple audits by leading security firms and is expanding beyond USDe, with Neutrl’s NUSD introducing srNUSD and jrNUSD tranches as part of its multi-market rollout.

🪂 The Strata Airdrop Points Program is live 🔥

Users earn Strata Points by holding srUSDe or jrUSDe and maintaining active positions within the protocol. Points accumulate directly inside the Strata dashboard.

Strata Points will eventually play a key role in the $STRATA airdrop following TGE.

The team has indicated that the $STRATA token is expected to launch in April, 2026.

The referral system grants 10% of the Strata Points generated by invited users, while invited participants receive a 10% boost on their Strata Points.