srUSDat

srUSDat is issued by Strata. What stands behind it: preferred stock of a bitcoin-treasury company. It is a senior tranche on sUSDat: losses reach it only after the junior tranche is gone. Its issuer documents redemption at once.

Facts

Issuer

Strata

What stands behind it

preferred stock of a bitcoin-treasury company

Strategy

dividends on preferred shares issued by companies that hold crypto on their balance sheet

Valued in

USD

Position in the capital stack

senior tranche

Who has to keep a promise

code on chain, a regulated issuer

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

Saturn (sUSDat), Strategy's STRC preferred stock
A tranche of sUSDat
Other assets from the same issuer: jrUSDe, srnOPAL, srUSDe

Chains

Ethereum, Monad · bridged copy on Monad

Checked

2026-09-22, from the issuer's own documents

Sources

https://docs.strata.markets/markets/saturn-usdat/srusdat
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.

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.