Solstice Finance launched a Solana-based product, strcUSX, that separates the dividend income and price risk of Strategy Inc.'s STRC preferred stock. The structure brings Wall Street-style credit tranching onto Solana, offering tokenized senior and junior claims tied to the underlying dividend stream.
Strategy Inc.'s Series A Perpetual Preferred Stock trades on Nasdaq and pays a 12 percent annualized dividend on a bi-monthly schedule. Strategy, formerly MicroStrategy, holds a corporate Bitcoin treasury exceeding $50 billion, making STRC a credit instrument linked directly to that position.
The strcUSX structure lets investors gain exposure to Strategy's income stream without taking direct Bitcoin price exposure. Solstice divides the STRC-linked returns into two Solana tokens, each carrying a distinct risk profile.
SR-strcUSX, the senior tranche, targets approximately 7 percent APY. It receives dividend income and principal recovery before the junior tranche—designed for investors who want lower volatility and predictable income.
JR-strcUSX, the junior tranche, absorbs initial losses from mark-to-market movements and captures remaining yield after senior holders are paid. Solstice targets returns above 20 percent APY for this higher-risk tranche.
Users deposit USX into the strcUSX vault to receive the tranche matching their preferred risk level. As STRC dividends flow into the vault, token exchange rates rise, enabling continuous yield accrual instead of discrete cash distributions.
Both SR-strcUSX and JR-strcUSX function as native Solana assets—tradable, usable as collateral and composable across decentralized finance applications. Ben Nadareski, CEO of Solstice Labs, said, "Tranching that yield on DeFi rails means every participant gets exactly the risk profile they came for."
Solstice is also expanding USX through a partnership with Zebec Network, integrating USX into Zebec's payroll platform. Zebec's infrastructure processes more than $500 million annually and serves over 50,000 monthly active users.
The integration lets businesses earn rewards on prefunded payroll balances while funds await distribution. Nadareski said, "Most onchain payroll has a dead-dollar problem. USX turns that gap into a yield window."
Employees and contractors on Zebec's platform can receive USX directly, then spend via Zebec's debit card or withdraw to a personal wallet.
One initiative converts a listed preferred-stock dividend into programmable DeFi exposure; the other turns idle payroll cash into a productive onchain balance. Together, they reflect Solstice's effort to make traditional cash flows composable rather than simply tokenized.
Strategy recently sold 1,690 Bitcoin for $108.6 million and used the proceeds to repurchase STRC preferred shares—a move that directly affects the underlying asset powering Solstice's new product.
