Design goals
Neutral settlement
A non-yield-bearing, fully-redeemable unit usable as settlement and collateral
across every Strata engine.
Real backing
Backed by tokenized silver reserves and approved collateral, not by
projections or endogenous tokens.
Mechanistic redeemability
A contract-level redemption path, not trust-and-intervention.
Coherent risk
Issuance gated by a shared risk framework rather than per-engine logic.
Issuance and supply control
Every engine that can mint srUSD routes through a global money-policy controller and engine registry. These enforce:- System-wide caps — an absolute ceiling on outstanding srUSD
- Per-SPV caps — limits on issuance against any single vehicle
- Per-engine caps — limits on how much any one engine can mint
- Throttles — rate limits on issuance changes
This is why Money is the control plane: no engine issues srUSD outside the
caps and throttles the controller enforces. Launch capacity is ~$250M srUSD.
Collateral classes
srUSD is minted against approved collateral with conservative collateral ratios:
Collateral eligibility and ratios are set by the Risk Committee through the
shared risk framework. See Governance.
Companion instrument: srSILVER
srSILVER is a tokenized representation of vaulted silver, backed by SPV-held reserves and redeemable for USDC at spot silver value. It provides commodity exposure and serves as DeFi collateral. Launch capacity ~$50M.Collateral & peg mechanics
The autonomous redemption floor that keeps srUSD near $1.