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, but it is currently waived.

• Both sUSDe and USDe redemptions follow a 7 day cooldown period, consistent with Ethena’s sUSDe unbonding period. USDe/sUSDe can be claimed after 7 days in "View History" under Portfolio section. This cooldown on jrUSDe redemption will be removed soon and users will be able to instantly redeem for sUSDe by paying the redemption fee.

• 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.