Structured Yield.
Redefined by Strata Markets.
Strata Markets is a generalized on-chain risk-tranching protocol that transforms any yield strategy into structured, tokenized financial products — giving every participant the risk-reward profile they choose.
Making Risk Explicit,
Yield Accessible
Strata Markets was built on a simple but powerful idea: every investor deserves to choose their own risk profile, not inherit an opaque blended one. Traditional DeFi protocols offer a one-size-fits-all APY where hidden risks are bundled together, leaving users without real choice.
By introducing fully on-chain risk-tranching, Strata Markets separates yield into two distinct, tokenized layers — senior and junior tranches. Each tranche is transparent, composable, and tradeable. Whether you are a conservative capital allocator seeking stable yields or an aggressive participant chasing amplified returns, Strata Markets has a tranche designed for you.
Risk Tranching
Split any yield strategy into senior and junior tranches, each with clearly defined risk and reward profiles. No more hidden, bundled risks.
Dynamic Yield Split
The DYS mechanism automatically allocates yield between tranches in real time, ensuring fair and transparent distribution without manual intervention.
Composable Tokens
Senior (sr) and Junior (jr) tranche tokens are fully permissionless ERC-20 tokens, freely usable across the DeFi ecosystem — lending, liquidity pools, and more.
Multi-Strategy Support
Strata Markets is strategy-agnostic. It works with any on-chain or off-chain yield source, from stablecoin funding rates to delta-neutral strategies and beyond.
Points & Rewards
Earn Strata Markets protocol points for participating in markets. Points track your contribution and unlock additional incentives as the ecosystem grows.
Battle-Tested Security
The Strata Markets protocol has undergone multiple independent audits from leading security firms. Audit reports are publicly available in our documentation.
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01
Deposit Underlying Asset
Users deposit yield-bearing assets (e.g., USDe, NUSD) into the Strata Markets protocol vault. The underlying strategy continues generating yield as normal.
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02
Dynamic Yield Split (DYS)
The DYS mechanism continuously monitors the vault's yield and splits it between the senior and junior tranches according to protocol parameters and market conditions.
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03
Receive Tranche Tokens
Depositors receive either senior (sr) or junior (jr) tranche tokens — fully transferable ERC-20 tokens representing their position and its associated risk-reward profile.
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04
Use Tokens Across DeFi
Both srTokens and jrTokens can be freely used across partner DeFi protocols — as collateral, in liquidity pools, or traded on open markets.
Protected & Predictable
The senior tranche (srToken) has priority on all cash flows from the underlying strategy. Junior tranche capital acts as a first-loss buffer, providing an additional layer of protection for senior holders.
Amplified & Aggressive
The junior tranche (jrToken) absorbs losses first, but in exchange earns a risk premium from the senior tranche and amplified upside when yields are strong. Ideal for risk-tolerant participants.
Ethena USDe is a synthetic dollar fully backed with crypto assets and corresponding short futures positions, providing a crypto-native solution for money.
Neutrl NUSD is a market-neutral synthetic dollar unlocking untapped yield from OTC arbitrage, funding rate inefficiencies, and DeFi-native strategies.
Security First
Every Strata Markets contract is rigorously audited by multiple independent security firms before deployment. Audit reports are public and accessible to all users.
Full Transparency
All Strata Markets protocol logic runs on-chain. Every yield split, every tranche balance, and every protocol parameter is publicly verifiable at any time.
Permissionless Access
There are no gatekeepers in Strata Markets. Any wallet can deposit, withdraw, and use tranche tokens freely without identity verification or whitelisting.
Composability
Tranche tokens issued by Strata Markets are standard ERC-20 tokens that integrate seamlessly with any DeFi protocol — no special wrappers or adapters needed.
User Autonomy
We believe users should have full control over their risk exposure. Strata Markets gives you the tools to choose exactly how much risk you take on every position.
Radical Openness
Documentation, source code, and protocol parameters for Strata Markets are open and available to everyone. We believe in building in public and welcoming community scrutiny.
Start Earning with Strata Markets
Choose your risk profile and start earning structured yield. Deposit into any Strata Markets market on Ethereum today.