Strata is a risk tranching protocol that offers structured crypto investment products on USDe, Ethena’s synthetic dollar. Users can choose between Senior (low risk) or Junior (higher risk) tranches and earn returns from delta-neutral strategies like carry and basis trades.
While Strata hasn’t launched a token yet, its Season 0 Points Program allows early users to earn Strata Points, which may convert into token rewards later. By depositing USDe or eUSDe, users receive pUSDe, which automatically accrues points daily. Points are also earned from DeFi integrations and referrals, and participants also farm Ethena and Etherealpoints in parallel.
Strata has been audited by Cyfrin and Quantstamp, and this program will likely end within 3 months of pre-deposit launch, so now is the time to act.
Time to complete: 5–10 minutes
Cost to participate: Requires USDe or eUSDe
Risk level: Low to medium
Deposit USDe or eUSDe
Go to Strata Campaign Page
Connect your wallet
Select how much USDe or eUSDe to deposit
Confirm the transaction to mint pUSDe (receipt token)
Prepare Your Assets
Buy USDe on Binance
Bridge to Ethereum using Rhino Bridge for best rates
Or use Strata’s built-in swap feature to convert other assets
Hold pUSDe to Earn Points
Your pUSDe will start accruing Strata Points automatically
You’ll also earn Ethena and Ethereal points
Points accumulate daily — no staking or claims needed
Boost Rewards with DeFi Integrations
Use pUSDe on partner platforms like Pendle, Euler, and Morpho
Earn up to 60x Strata Points, plus bonus points from other protocols
Example: On Pendle, LP & YT deposits of pUSDe (16 Oct 2025) give:
60x Strata Points
50x Ethena Sats
1x Ethereal Point
Refer and Earn
Create your referral link from your Strata dashboard
Share it to earn bonus points for each successful deposit via your link
Strata is a decentralized protocol offering structured yield strategies through risk tranching on USDe, the synthetic dollar from Ethena. Its products let users choose customized risk-reward profiles while earning real on-chain returns. Strata emphasizes security and composability — it’s already been audited by Cyfrin and Quantstamp, and integrates with top DeFi platforms like Pendle, Morpho, and Euler. It is rapidly positioning itself as a foundational layer for synthetic dollar adoption in DeFi.
Please be aware that these are not the official deadlines. We’ve conducted a thorough search, but no confirmed information is available at the moment. However, we kindly recommend proceeding with urgency. As soon as we have accurate deadlines, we will promptly update the information on this page.