---
title: "Strata Senior USDe (srUSDe) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/srusde-strata/"
description: "Build-time stablecoin profile for Strata Senior USDe (srUSDe). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Strata Senior USDe (srUSDe)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Strata's senior tranche over a USDe yield strategy with junior capital absorbing first-loss; better structured than a plain loop, but still Ethena-dependent.

Strata Senior USDe turns Ethena exposure into a senior tranche with junior capital absorbing first-loss risk via {{term:delta-neutral}}delta-neutral{{/term}} {{term:perpetual}}perpetual{{/term}} hedges. Pharos models the token as a risk-absorption variant of USDe: better structured than a plain loop, but still dependent on Ethena, sUSDe yield, and Strata {{term:redemption}}redemption{{/term}} terms.

## Collateral

Senior tranche (ERC-4626 meta-vault) over Strata's CDO-style risk-tranched strategy that stakes USDe into Ethena sUSDe; the junior tranche (jrUSDe) provides first-loss capital and is paid a dynamic risk premium, giving senior holders principal protection and a benchmark-rate yield floor with uncapped sUSDe upside, while a junior-exhausting insolvency event can still impair senior principal

## Peg Mechanism

srUSDe targets a stable senior NAV backed by USDe strategy collateral and junior-tranche subordination; exits depend on Strata tranche liquidity and settlement rules rather than a simple 1:1 stablecoin redemption

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x3d7d6fdf07ee548b939a80edbc9b2256d0cdc003` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/srusde-strata.