jrUSDe

Strata Junior USDe Mint & Redemption

Strata Junior USDe (jrUSDe) is a yield-bearing investment product designed for investors seeking leveraged exposure to sUSDe APY with higher risk-reward potential.

Mint

jrUSDe can be minted by depositing USDe. The amount of jrUSDe received is determined by the jrUSDe/USDe exchange rate minus any applicable minting fees.

At the current stage of protocol implementation:

• USDe and sUSDe can be used to mint jrUSDe through the Strata UI.

• Minting fees are currently waived.

• jrUSDe can also be acquired on secondary markets using any asset on DEXs.

Redeem

When jrUSDe is redeemed, the user receives USDe based on the jrUSDe/USDe exchange rate, minus any applicable redemption fees.

At the current stage of protocol implementation:

• jrUSDe can be redeemed for USDe and sUSDe through the Strata UI.

• Redemption fee is 10 bps.

• jrUSDe can be instantly redeemed for sUSDe while USDe redemptions follow a 7 day cooldown period, consistent with Ethena’s sUSDe unbonding period. USDe can be claimed after 7 days in "View History" under Portfolio section.

• jrUSDe can also be traded for other assets on DEXs.

The jrUSDe Dashboard on the Strata app displays the current jrUSDe/USDe exchange rate, APY, overperformance, and market cap, along with full historical data. All metrics are updated in real time, giving users a clear and accurate view of jrUSDe’s performance at any moment.