Underlying asset
srnOPAL
Issued by Strata. The facts below were checked on the date shown, from the sources listed.
srnOPAL is issued by Strata. What stands behind it: real-world credit. It is a senior tranche on nOPAL: losses reach it only after the junior tranche is gone. It is redeemed through a queue.
Facts
- Issuer
- Strata
- What stands behind it
- real-world credit
- Strategy
- Brazilian credit card receivables, FX-hedged
- Valued in
- USD
- Position in the capital stack
- senior tranche
- Who has to keep a promise
- borrowers off chain
- Redemption
- redeems through a queue
- 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
- BlackOpal, the manager of the receivables behind nOPAL
A tranche of nOPAL
Other assets from the same issuer: jrUSDe, srUSDat, srUSDe - Chains
- Ethereum
- Checked
- 2026-09-22, from the issuer's own documents
- Sources
- https://docs.strata.markets/markets/plume-nopal/srnopal
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 | 2027-01-07 | PT-srnOPAL-7JAN2027 |
Not found
What the research has not answered for this asset, said rather than left blank.
- How long redemption takes at worst.
- Incidents: this encyclopedia does not yet keep a record of incidents from primary sources.