Strata[STRATA]

Risk-tranching protocol for structured DeFi yield

Strata is a risk-tranching protocol that splits any on-chain or off-chain yield strategy into two tokenized tranches. Its Senior Tranche is an over-collateralized, yield-bearing synthetic dollar offering conservative, predictable returns, while the Junior Tranche absorbs volatility for leveraged upside and a risk premium, acting as a liquid insurance pool. Strata launched in October 2025 on Ethena's USDe.