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strUSD
Yields are variable and depend on market conditions. Past performance does not guarantee future results. See Risk Disclosures.

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What is strUSD?

strUSD is the staked version of trUSD that accrues yield. When you stake trUSD, you receive strUSD tokens that automatically accumulate yield over time from Tori’s institutional-grade trading strategies. Think of strUSD as a “receipt” for your staked trUSD that grows in value as yield is generated. Key characteristics:
FeatureDescription
TickerstrUSD
StandardERC-20
Primary NetworkEthereum Mainnet
Multi-chainPlanned - native support via Chainlink CCIP
StakingInstant
Unstaking7-day cooldown period
YieldAutomatic accrual via exchange rate

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How strUSD Works

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The Exchange Rate Mechanism

Unlike some yield tokens that distribute rewards periodically, strUSD uses an exchange rate mechanism. Here’s how it works:
  1. Initial Rate: When you first stake, the exchange rate determines how much strUSD you receive for your trUSD
  2. Yield Accrual: As yield is generated, the exchange rate increases
  3. Redemption: When you unstake, you receive trUSD based on the current (higher) exchange rate
Day 1:
  • Exchange rate: 1 strUSD = 1.00 trUSD
  • You stake 10,000 trUSD
  • You receive 10,000 strUSD
After 6 months:
  • Exchange rate has increased to: 1 strUSD = 1.10 trUSD
  • Your 10,000 strUSD is now worth 11,000 trUSD
  • That’s approximately 10% over the period (hypothetical)
When you unstake:
  • You request to unstake your 10,000 strUSD
  • After the 7-day cooldown, you receive 11,000 trUSD
  • The exchange rate reflects 1,000 trUSD in accrued yield
Note: This is a hypothetical example. Actual yields vary based on market conditions.
Why exchange rates? This mechanism is gas-efficient (no claiming transactions needed) and compounds automatically.
How the rate is determined: strUSD implements the ERC-4626 tokenized vault standard. The exchange rate is computed on-chain as exchangeRate = totalAssets / totalShares. No person or committee sets this rate; it is a mechanical output of the smart contract based on the vault’s net asset value.

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Staking Process

1

Have trUSD

First, you need trUSD in your wallet. Get trUSD →
2

Navigate to Stake

Go to app.tori.finance and select the Stake tab.
3

Enter Amount

Enter how much trUSD you want to stake. There’s no minimum.
4

Confirm Transaction

Review and confirm the transaction in your wallet.
5

Receive strUSD

strUSD tokens appear in your wallet and begin accruing yield based on current market conditions.

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Unstaking Process

When you’re ready to exit your position:
1

Navigate to Unstake

Go to the Unstake tab in the app.
2

Enter Amount

Enter how much strUSD you want to unstake.
3

Initiate Cooldown

Confirm the transaction to begin the 7-day cooldown.
4

Wait

Your request is pending during the cooldown period.
5

Claim

After 7 days, return to the app and claim your trUSD.
Why 7 days? The cooldown period ensures proper liquidity management. It allows the protocol to manage redemptions in an orderly manner without forcing liquidations or impacting other users.

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Fees

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Performance Fee

A 10% performance fee is applied to strUSD yield.
What’s ChargedWhat’s NOT Charged
10% of generated yieldStaked token amount
Staking transaction
Unstaking transaction
Example: If your position generates 100 trUSD in yield, 10 trUSD goes to the protocol and 90 trUSD accrues to your strUSD.
The performance fee is automatically factored into the exchange rate. You don’t need to pay it separately. It’s already reflected in your strUSD value.

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Where Does Yield Come From?

Yield is generated from market-neutral trading strategies that institutional traders have used for decades:

Money Markets

What it is: Short-duration instruments in select global markets. This is typically our largest allocation.How it works: Access to institutional money market rates and short-term lending opportunities.Why it’s market-neutral: These are typically very short-duration, high-quality instruments with minimal price risk.
What it is: Capturing price differences between spot and futures markets.How it works: When futures trade at a premium to spot prices, the spread can be captured as yield by being long spot and short futures simultaneously.Why it’s market-neutral: The long and short positions offset each other’s directional exposure.
What it is: Trading mispricing between different contract expiry dates.How it works: Sometimes the price difference between near-term and far-term contracts deviates from fair value, creating an opportunity.Why it’s market-neutral: We’re trading the relationship between contracts, not the direction of the underlying asset.
Key principle: All strategies are designed to be delta-neutral, aiming to remove directional exposure. Returns come from pricing opportunities, not from betting on prices going up or down. We may expand our strategy set over time as new opportunities emerge. Learn more about our strategy →

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DeFi Composability

strUSD is a standard ERC-20 token, which means it’s fully composable with the DeFi ecosystem:
Use CaseDescription
CollateralUse strUSD as collateral in lending protocols
LiquidityProvide liquidity in DEX pools
Yield AggregationIntegrate with yield optimizers
TransfersSend freely to any Ethereum address
BuildingBuild applications on top of strUSD
DeFi integrations are currently in development. See DeFi Integrations for updates.

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Custody & Security

strUSD benefits from multiple layers of security:
ComponentProviderDescription
Smart Contract AuditsSherlockComprehensive audits with ongoing bug bounty
Security MonitoringHypernative + InternalAI-powered 24/7 threat detection
Proof of ReservesAccountableReal-time, independent attestations
All assets backing strUSD are held in institutional-grade custody:
  • On-chain: Audited smart contracts with multi-signature controls
  • Off-chain: Qualified institutional custodians with segregated accounts

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Risk Considerations

Like all yield-generating products, strUSD involves risk. Here’s what to understand:
Risk TypeWhat It MeansHow We Manage It
StrategyYields vary with market conditionsDiversification across multiple strategies
Smart ContractCode may have vulnerabilitiesAudits by tier-1 firms, real-time security systems, bug bounty programs
MarketExtreme conditions affect performanceRisk limits, stop-losses
TimingPositions may take time to convergePatient execution, professional monitoring
Liquidity7-day cooldown for unstakingEnsures orderly redemption for all token holders
Past performance does not guarantee future results. See our Risk Disclosures for complete information.

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Technical Details

For developers and integrators:
PropertyValue
Contract StandardERC-20
Decimals18
Primary NetworkEthereum Mainnet
Multi-chainPlanned via Chainlink CCIP
UpgradeableYes (via proxy)

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Multi-Chain Architecture

Like trUSD, strUSD will expand across chains via Chainlink CCIP using the Cross-Chain Token (CCT) standard:
  • Native bridging - strUSD will move across chains through CCIP token pools without wrapped tokens. Ethereum will hold the canonical token behind a Lock & Release pool, and each new chain will use a Burn & Mint pool
  • Yield continues - Your strUSD will keep earning no matter which chain it’s on
  • EVM chains - Support for major EVM-compatible chains planned
  • Defense-in-depth - CCIP secures transfers with a decentralized oracle network and an independent Risk Management Network (RMN), plus per-lane rate limits
Contract addresses are available in our Contracts documentation.

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Next Steps

Get Started

Start staking in minutes
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Get trUSD

Get the base token first

Strategy Details

How yield is generated

Risk Disclosures

Understand all the risks