Underlying asset
jrUSDe
Issued by Strata. The facts below were checked on the date shown, from the sources listed.
jrUSDe is issued by Strata. What stands behind it: a basis trade run off chain. It is a junior tranche on sUSDe: it takes losses first. Its issuer documents redemption at once.
Facts
- Issuer
- Strata
- What stands behind it
- a basis trade run off chain
- Strategy
- funding on perpetual futures, hedged delta-neutral
- Valued in
- USD
- Position in the capital stack
- junior tranche (first loss)
- Who has to keep a promise
- code on chain, an exchange holding the assets
- Redemption
- redeems at once
- Who can change it
- a timelock · 48 h delay · the same timelock governs every Strata tranche 0xb2a3cf69c97afd4de7882e5fee120e4efc77b706 (Ethereum)
- Audits
- Quantstamp, 2026-07
Quantstamp, 2026-03
Cyfrin, 2026-01
Quantstamp, 2025-11
Cyfrin, 2025-10
Guardian, 2025-10
Quantstamp, 2025-10 - Bug bounty
- up to $250,000 on Immunefi
- Depends on
- Ethena (sUSDe)
A tranche of sUSDe
Other assets from the same issuer: srnOPAL, srUSDat, srUSDe - Chains
- Ethereum
- Checked
- 2026-10-01, from the issuer's own documents
- Sources
- https://docs.strata.markets/markets/ethena-usde/jrusde
https://docs.strata.markets/protocol-mechanism/risks-and-mitigations
https://docs.strata.markets/technical-documentation/roles-and-permissions
https://docs.strata.markets/technical-documentation/audits
Pendle markets on it
Live Pendle markets on this asset, as of 6 Oct 2026. Rates are not shown. Market data: Pendle.
| Chain | Maturity | Principal token |
|---|---|---|
| Ethereum | 2026-10-22 | PT-jrUSDe-22OCT2026 |
| Ethereum | 2027-02-25 | PT-jrUSDe-25FEB2027 |
Not found
What the research has not answered for this asset, said rather than left blank.
- All six questions are answered for this asset.
- Incidents: this encyclopedia does not yet keep a record of incidents from primary sources.