strcUSX
Structured Credit
from Strategy Inc.
strcUSX is an isolated, opt-in YieldVault that structures Strategy Inc. STRC preferred income into strcUSXsr (7% target, junior in front) and strcUSXjr (~20% indicative yield, first-loss, book value). USX does not rely on STRC. Product not live.
strcUSX
The yield source Strategy Inc.
STRC ("Stretch") is a perpetual preferred stock issued by Strategy Inc., listed on Nasdaq. The stated dividend is variable; as of July 2026 materials it is 12.00% annualized on the $100 stated amount, paid in cash on a semi-monthly schedule subject to declaration.
Solstice accesses STRC-referenced income through a managed structure. That income is allocated into the isolated strcUSX vault and structured across senior and junior tranches settled in USX.
Full issuer details at strategy.com/strc
strcUSX
One book. Two claims.
How it works.
Deposit USX into the strcUSX YieldVault and choose a tranche. Senior targets a 7% APY path with junior capital in front of realized STRC loss outside liquidation. Junior targets residual yield on a book-value framework and absorbs first-loss. This is structured credit, not a 1:1 substitute for holding STRC.
The Yield Path
Designed for Solana DeFi
Both tranches are built as composable Solana tokens settled in USX. Senior is designed for lower displayed price volatility than holding STRC directly. Junior is first-loss capital. Listings, LTVs, and integrations ship only after product is live and risk partners complete review.
Who is this for?
Allocators who want structured exposure to STRC preferred income on Solana without putting STRC inside the USX dollar. Senior buyers want a damped path with junior first-loss in front. Junior buyers want residual yield and accept first-loss and book-value pricing. Isolated STRC-referenced credit with an explicit senior/junior split, and a settlement dollar (USX) that does not depend on STRC marks.
Risk Profile
Tranche-dependent. Senior is protected by junior, not risk-free. Junior is first-loss. STRC is unsecured preferred, not BTC-collateralized. $100 stated is not a put.
Yield source
STRC preferred distributions are variable and subject to issuer declaration. Coupon is not the same as locked total return if the preferred marks below stated amount.
Book value vs market
Junior uses book-value pricing on screen. Displayed junior price can differ from live STRC market value. Full mark-to-market junior pricing is not the base product design.
USX isolation
strcUSX is opt-in. STRC reference exposure sits in the vault, not in USX reserves. Holding USX is not the same as holding strcUSX.
Partnerships
Frequently Asked Questions
STRC is a perpetual preferred security issued by Strategy Inc. and listed on Nasdaq. The stated dividend rate is variable. It is unsecured preferred equity, not a deposit, not a put at $100, and not directly collateralized by Strategy bitcoin.
Holding STRC takes the full secondary mark. strcUSX splits one STRC-referenced book into strcUSXsr (7% target path with junior in front) and strcUSXjr (residual yield, first-loss, book value). It reassigns volatility; it does not eliminate credit, dividend, or liquidation risk.
eUSX is Solstice’s live delta-neutral yield strategy. strcUSX is isolated structured credit referencing Strategy STRC preferred income. Different risk, different yield source, different product. strcUSX is not live yet.
As of the July 2026 model calibration: strcUSXsr 7% target; strcUSXjr about ~20% indicative yield at launch fill (with additional variable upside only if recovery toward face is realized into the book); 200% coverage design on a 50/50 senior/junior book. Parameters can change before launch.
Base design is book value for junior display and accounting. Standing full mark-to-market junior pricing is not the locked public product. Always read risk disclosures before launch.