Been playing around @strata_money for some time.
For those who doesn't know Strata is a yield tranching protocol on @ethena_labs USDe. You can pick Senior or Junior tranches depending on your risk preference.
Season 1 is running now. If you were in Season 0, you might get some boosts for Season 1, I think it's ~15%. Right now there are 2 options if you're looking at YT on @pendle_fi👇
Bookmark this as it'll help you understand calculations
1. srUSDe YT
‣ Lower risk
‣ 60x Strata points + 40x Ethena points
‣ Currently showing 4.88% base APR, 278% principal APR on Pendle
2. jrUSDe YT
‣ Higher risk
‣ 20x Strata points + 10x Ethena points
‣ Currently showing 6.48% base APR, 272% principal APR on Pendle
jrUSDe is giving more yield since it's riskier. Tho srUSDe is showing slightly higher principal APR AND better multipliers. Markets mature mid Jan 2026 (61 days). For those who doesn't understand the terms. Here's how you calculate it...
➠ Principal APR = Multiplier x base APR
1. srUSDe YT = 57 × 4.88 = 278% APR
2. jrUSDe YT = 42 × 6.48 = 272% APR
➠ Remaining yield = Principal APR × (Days remaining/365)
1. srUSDe YT = 278% × 0.167 = ~46% over 61 days
2. jrUSDe YT = 272% × 0.167 = ~45% over 61 days
➠ Base Yield (days) = Base APR × (days/365)
This is the actual yield you earn from holding the underlying USDe over 61 days and it's guaranteed regardless of airdrop. So I've taken a bet on @strata_money YT here.
1. For srUSDe YT that'd be 0.81%.
➢ Total potential return over 61 days: 46%
➢ Guaranteed base yield: 0.81%
➢ Airdrop dependent: 45.19% (46% - 0.81%)
2. For jrUSDe YT that'd be 1.08%.
➢ Total potential return over 61 days: 45%
➢ Guaranteed base yield: 1.08%
➢ Airdrop dependent: 43.9% (45% - 1.08%)
➠ Calculation
1. On $1,000 in srUSDe YT:
➢ Guaranteed: $1,000 × 0.81% = $8.10
➢ Airdrop-dependent: $1,000 × 45.19% = $451.90
➢ Total potential: $460
2. On $1,000 in jrUSDe YT:
➢ Guaranteed: $1,000 × 1.08% = $10.8
➢ Airdrop-dependent: $1,000 × 43.9% = $439
➢ Total potential: $450
Take this piece as an informational update & not an investment thesis.
2,15 rb
41
Konten pada halaman ini disediakan oleh pihak ketiga. Kecuali dinyatakan lain, OKX bukanlah penulis artikel yang dikutip dan tidak mengklaim hak cipta atas materi tersebut. Konten ini disediakan hanya untuk tujuan informasi dan tidak mewakili pandangan OKX. Konten ini tidak dimaksudkan sebagai dukungan dalam bentuk apa pun dan tidak dapat dianggap sebagai nasihat investasi atau ajakan untuk membeli atau menjual aset digital. Sejauh AI generatif digunakan untuk menyediakan ringkasan atau informasi lainnya, konten yang dihasilkan AI mungkin tidak akurat atau tidak konsisten. Silakan baca artikel yang terkait untuk informasi lebih lanjut. OKX tidak bertanggung jawab atas konten yang dihosting di situs pihak ketiga. Kepemilikan aset digital, termasuk stablecoin dan NFT, melibatkan risiko tinggi dan dapat berfluktuasi secara signifikan. Anda perlu mempertimbangkan dengan hati-hati apakah trading atau menyimpan aset digital sesuai untuk Anda dengan mempertimbangkan kondisi keuangan Anda.