Strategy · CoinDesk
Solstice Finance published a Solana-based product that gives decentralized finance (DeFi) users structured exposure
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The Zug, Switzerland-based firm, a DeFi yield infrastructure protocol built on Solana, said its new product splits the indirect STRC exposure into a senior and junior tranche, the firm said shared via Telegram.
Key facts
- Strategy disclosed it sold 1,690 bitcoin for $108.6 million on Monday, using the proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million
- The junior token, JR-strcUSX, takes the residual income after senior holders are paid and targets more than 20% APY
- The senior token, SR-strcUSX, is designed to receive income first and targets a yearly yield of 7%
- Solstice Finance rolled out a Solana-based product that gives decentralized finance (DeFi) users structured exposure to the dividend income and price risk of Strategy’s (MSTR) preferred stock (STRC)
Summary
Solstice Finance has rolled out strcUSX on Solana, a structured product that offers DeFi users exposure to the dividend income and price risk of Strategy’s STRC preferred stock without tokenizing the shares. The product splits exposure into a senior token targeting a 7% annual yield and a junior token targeting more than 20% APY, with junior holders absorbing losses first if STRC’s price falls. Users deposit Solstice’s USX token into a vault, can redeem after a seven-day unlock or exit immediately for a fee, and receive yield via changes in the tokens’ exchange rate rather than separate distributions.