stUSDe

stUSDe is a yield-bearing, over-collaterlized synthetic dollar backed by USDe. It represents the Senior Yield Tranche and offers superior risk-adjusted returns by providing uncapped upside exposure to sUSDe APY, while ensuring principal protection and a guaranteed minimum yield tied to the benchmark rate (Sky Savings Rate) for investors seeking predictable and low-risk yields in DeFi.

stUSDe always earns a share of the yield generated by the protocol on the pooled collateral by staking USDe. Its yield has a floor equivalent to the Sky Savings Rate (SSR) ensuring uncapped upside exposure to sUSDe APY with minimum guaranteed yield. In extreme scenarios (stJLP TVL ~ 0, sUSDe APY < SSR), stUSDe APY will be equivalent to the sUSDe APY.

stUSDe is an over-collaterlized synthetic dollar offering the best-in-class risk-adjusted yields with similar risk profile as lending USDe/stablecoins on Aave, superior risk profile than Sky Savings, and historically delivering significantly higher yields than both.

stUSDe is ideal for users with a conservative risk profile, including institutions, DAOs, and TradFi retail savers.

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Key features of stUSDe

• Instant minting and redemption: Users can seamlessly mint or redeem stUSDe for USDe or sUSDe without any lockup, or buy it on secondary markets using any asset on DEXs. Strata will also introduce an optional locking feature that offers enhanced yields.

• Inbuilt insurance and over-collateralization: stUSDe is fully backed by staked USDe collateral, with additional coverage provided by the junior tranche (stJLP), ensuring capital preservation and a risk-free yield.

• Consistent and reliable yield: stUSDe provides a guaranteed minimum yield with upside exposure to sUSDe APY, mirroring Sky Savings USDS’s stability while minimizing the yield volatility, offering investors a reliable and stable income stream.

• Composable and efficient: Built on the ERC-4626 tokenized vault standard, stUSDe is a fully permissionless and transferable token designed for seamless integration across DeFi and CeFi, delivering capital efficiency, flexibility, and broad accessibility.

• Omni-chain liquidity powered by LayerZero’s OFT standard enables assets to be minted across multiple chains and allows seamless cross-chain transfers, ensuring unified and efficient liquidity.