Solstice Finance, a Zug-based DeFi yield infrastructure protocol on Solana, has unveiled a structured product called strcUSX that provides indirect exposure to the dividends and price movements of Strategy’s (formerly MicroStrategy) perpetual preferred stock, STRC. The launch combines traditional financial instruments with on-chain decentralized finance, enabling users to deposit the protocol’s dollar-pegged settlement token, USX, into a dedicated vault and receive one of two Solana-based tokens that reflect the performance of a portfolio holding STRC shares—without ever directly owning or tokenizing the stock.
The product splits risk into two tranches. The senior tranche, SR-strcUSX, prioritizes income stability and targets an annual yield of 7%, while the junior tranche, JR-strcUSX, absorbs first losses from STRC value fluctuations and offers a target yield of over 20%. This structure allows users to select their preferred risk-return profile. STRC itself is a variable-rate perpetual preferred share that currently pays a 12% annual cash dividend in biweekly installments, although the rate is subject to the board’s discretion.
Redemption mechanics include a seven-day unlock period, with immediate exit possible by paying a fee. Yield accrues through the token’s exchange rate, and no separate distributions are made. The vault aims to bring STRC-referenced credit to a Solana-native audience, making a regulated, income-generating asset accessible in a steadier risk format. Solstice highlighted that this is a first-of-its-kind integration on Solana, potentially broadening the appeal of hybrid TradFi-DeFi products, but cautioned that underlying market volatility and STRC performance remain inherent risks.
