Strata Money: Layered Yield Strategies on USDe
Strata Money is a perpetual risk-tranching protocol that lets you choose between
defensive Senior and high-octane Junior tranches on USDe, using Ethena's delta-neutral
infrastructure to deliver crypto-native yield.
What is Strata Money and how does it work with USDe?
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Strata Money is a perpetual risk-tranching protocol that builds structured yield
products on USDe, Ethena's synthetic dollar backed by delta-neutral positions
on blue-chip crypto assets. Instead of giving everyone the same risk and return
profile, Strata splits exposure into two tranches — Senior and Junior —
so you can align your yield with your personal risk appetite while staying fully
on-chain and crypto-native.
How does Strata Money split risk between Senior and Junior tranches?
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Strata Money allocates protocol risk and rewards between Senior and Junior
tranches. Senior investors aim for more stable returns and priority on capital
protection, while Junior investors accept higher volatility in exchange for
amplified upside. This design lets conservative users sit closer to the "front
of the line" for protection, while risk-tolerant users can target higher yields
funded by carry and basis trades on USDe and related derivatives.
How are yields generated on structured USDe products?
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Yields come from crypto-native sources such as carry and basis trades that sit
on top of Ethena's sUSDe reward-bearing synthetic dollar. The protocol routes
this performance into the Senior and Junior tranches according to predefined
rules. Senior positions are designed to receive smoother, more protected yield,
while Junior tranches absorb more of the variability, giving them higher potential
returns if market conditions are favorable.
What are srUSDe and jrUSDe tokens on Strata Money?
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The protocol issues two liquid, composable tokens on top of Ethena's reward-bearing
sUSDe: Strata Senior USDe (srUSDe) and Strata Junior USDe (jrUSDe). Holding srUSDe
represents exposure to the Senior tranche — focused on stability and
downside-first design — while jrUSDe represents the Junior tranche, which
takes on more risk in pursuit of higher yield. Both tokens are built to integrate
with DeFi, so they can be used across other protocols as collateral or yield-bearing
building blocks.
Who is this protocol for and how do I get started?
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The protocol is designed for users who hold or want exposure to USDe and prefer
transparent, rules-based risk management over opaque yield products. If you are
yield-focused but conservative, Senior tranches via srUSDe may fit your profile.
If you are comfortable with volatility and want to pursue higher returns, the
Junior tranche via jrUSDe may be more suitable. To get started, connect your
wallet, choose the tranche that matches your risk tolerance, and mint the
corresponding token directly from the interface.
