Launching July 22nd, 2025!
We’re thrilled to announce Strata Season 0, the first step in our journey toward the mainnet deployment of the protocol. This pre-launch, pre-deposit phase is designed to kickstart our platform, onboard USDe collateral, and introduce the Strata Points Program.
Season 0 is expected to run until the mainnet launch of the Strata protocol with stUSDe and stJLP, and we aim to conclude it within three months of launching pre-deposits.
The Strata Points Program is an incentive mechanism designed to reward early users and liquidity providers with Strata points for helping bootstrap the Strata ecosystem. As a decentralized protocol, Strata’s strength lies in its community, and Points are how we measure and showcase these contributions on‑chain.
Strata Points can be earned by using Strata, engaging with ecosystem partners, and inviting new users. The program recognizes and tracks contributions across multiple seasons, rewarding those who actively support the protocol’s growth.
Users can deposit USDe and eUSDe into the Strata Points Farm on Ethereum mainnet to mint pUSDe and start accruing Strata, Ethena and Ethereal Points, unlocking early access, referral rewards, and boosted multipliers.
Deposit USDe and eUSDe
Use the Strata app to deposit USDe or eUSDe into the points farm to mint pUSDe. Users can also swap in with other assets.
Earn Points Daily
User deposits will be tracked and rewarded with Strata Points and other rewards daily.
Maximize Your Rewards
The longer you hold pUSDe, the bigger your rewards — with even greater rewards when you use it across partner protocols in the DeFi ecosystem.
Referral Program
Invite friends with your referral link and boost your rewards!
For everything you need need to know about the Strata Season 0, refer to our FAQs.
pUSDe is the receipt token for depositing USDe and eUSDe in the Strata Season 0 points farm on Ethereum Mainnet.
1:1 backed by USDe (Ethena's synthetic dollar).
Instant mint/redeem with/for USDe and eUSDe (Ethereal's pre-deposit receipt token) without any lockup.
pUSDe holders earn 30x Strata points, 30x Ethena points, Ethereal points and more.
pUSDe is a fully composable ERC-20 token that can be further used across the DeFi ecosystem to maximize the rewards (up to 60x multiplier on Pendle, Euler, Morpho and more).
Strata is committed to maintaining top‑tier protocol security through a comprehensive, multi‑phased audit strategy. Accordingly, we engaged Cyfrin and Quantstamp to perform a multi‑phased audit of our Pre‑Deposit vaults. You can view all of our public smart‑contract audit reports in the Audits section of our documentation.
Please refer to the Strata pre-deposit page for the latest integrations and associated points multipliers, as Strata continues to add more partners across the DeFi ecosystem.
Join us as we build the next era of DeFi together with Ethena.
Launching July 22nd, 2025!
We’re thrilled to announce Strata Season 0, the first step in our journey toward the mainnet deployment of the protocol. This pre-launch, pre-deposit phase is designed to kickstart our platform, onboard USDe collateral, and introduce the Strata Points Program.
Season 0 is expected to run until the mainnet launch of the Strata protocol with stUSDe and stJLP, and we aim to conclude it within three months of launching pre-deposits.
The Strata Points Program is an incentive mechanism designed to reward early users and liquidity providers with Strata points for helping bootstrap the Strata ecosystem. As a decentralized protocol, Strata’s strength lies in its community, and Points are how we measure and showcase these contributions on‑chain.
Strata Points can be earned by using Strata, engaging with ecosystem partners, and inviting new users. The program recognizes and tracks contributions across multiple seasons, rewarding those who actively support the protocol’s growth.
Users can deposit USDe and eUSDe into the Strata Points Farm on Ethereum mainnet to mint pUSDe and start accruing Strata, Ethena and Ethereal Points, unlocking early access, referral rewards, and boosted multipliers.
Deposit USDe and eUSDe
Use the Strata app to deposit USDe or eUSDe into the points farm to mint pUSDe. Users can also swap in with other assets.
Earn Points Daily
User deposits will be tracked and rewarded with Strata Points and other rewards daily.
Maximize Your Rewards
The longer you hold pUSDe, the bigger your rewards — with even greater rewards when you use it across partner protocols in the DeFi ecosystem.
Referral Program
Invite friends with your referral link and boost your rewards!
For everything you need need to know about the Strata Season 0, refer to our FAQs.
pUSDe is the receipt token for depositing USDe and eUSDe in the Strata Season 0 points farm on Ethereum Mainnet.
1:1 backed by USDe (Ethena's synthetic dollar).
Instant mint/redeem with/for USDe and eUSDe (Ethereal's pre-deposit receipt token) without any lockup.
pUSDe holders earn 30x Strata points, 30x Ethena points, Ethereal points and more.
pUSDe is a fully composable ERC-20 token that can be further used across the DeFi ecosystem to maximize the rewards (up to 60x multiplier on Pendle, Euler, Morpho and more).
Strata is committed to maintaining top‑tier protocol security through a comprehensive, multi‑phased audit strategy. Accordingly, we engaged Cyfrin and Quantstamp to perform a multi‑phased audit of our Pre‑Deposit vaults. You can view all of our public smart‑contract audit reports in the Audits section of our documentation.
Please refer to the Strata pre-deposit page for the latest integrations and associated points multipliers, as Strata continues to add more partners across the DeFi ecosystem.
Join us as we build the next era of DeFi together with Ethena.
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DeFi and TradFi Are No Longer OppositesFor years, DeFi and TradFi stood on opposite ends of the financial spectrum: one permissionless and composable, the other regulated and institutionally controlled. But that divide is rapidly disappearing. Today, we’re witnessing a convergence where DeFi is evolving with stronger security, risk management, and real-world integration, while TradFi is adopting DeFi’s core innovations to modernize legacy infrastructure and access new yield sources. TradFi is...
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ConvergenceEthena is on a mission to redefine internet-native money by creating a reward-generating, crypto-native synthetic dollar seamlessly integrated with DeFi and CeFi. In early 2024 the team launched USDe, a synthetic dollar designed to maintain its peg while generating crypto-native returns. Just twelve months later, its market cap surged to $6 billion, marking the fastest growth in DeFi history. Ethena’s approach is simple but powerful: maintain delta-neutral positions on blue-chip cr...
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