Key Takeaways:
- Solstice Finance launched strcUSX, the first Strategy STRC product on Solana
- Senior tranche targets 7% yield; junior tranche targets over 20% APY
- Protocol TVL has grown from $160M to over $400M since September
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Solstice brings Strategy's 12% STRC dividend yield to Solana DeFi
Solstice Finance launched strcUSX on Solana, splitting income from Strategy's 12% preferred stock into senior and junior tranches.
The Zug, Switzerland-based DeFi yield protocol said the product gives users exposure to STRC's dividend income and price risk without tokenizing the underlying Nasdaq-listed shares. Users deposit USX, Solstice's dollar-linked settlement token, into a vault and receive one of two Solana tokens tied to the economics of a portfolio holding the preferred stock.
The senior token, SR-strcUSX, receives income first and targets a 7% annual yield. The junior token, JR-strcUSX, takes residual income after senior holders are paid and targets more than 20% APY, absorbing losses from changes in STRC's market value before senior holders do.
STRC, known as Stretch, is Strategy's variable-rate perpetual preferred stock currently paying a 12% annual dividend in cash with semi-monthly payments. The rate is set by Strategy's board and dividends remain subject to declaration. STRC has been trading near $95 against a $100 par value, pushing the effective dividend yield above the stated rate.
The launch marks the first STRC-linked instrument on Solana, according to Solstice. The protocol's public debut on Sept. 30, 2025 started with total value locked exceeding $160 million, a figure that has since climbed past $400 million, backed primarily by institutional investors.
Solstice said users can redeem after a seven-day unlock period or exit immediately for a fee. Yield accrues through the token's exchange rate rather than being paid as a separate distribution.
The product arrives as Strategy disclosed it sold 1,690 bitcoin for $108.6 million on Monday, using proceeds to repurchase 1,152,020 shares of STRC. The sale reduced Strategy's holdings to 840,447 BTC.
The strcUSX rollout extends the real-world asset tokenization narrative on Solana, where protocols like Ondo Finance have already brought tokenized Treasuries and institutional-grade yield products on-chain. But the decorrelation is incomplete — Strategy's balance sheet is dominated by Bitcoin, so a severe crypto downturn could pressure the company's ability to sustain dividend payments, creating a risk profile that blends TradFi structure with crypto-correlated exposure.
This article is for informational purposes only and does not constitute investment advice.
[1] Solana gets its first Strategy STRC product through Solstice Finance[2] Ondo Finance (ONDO) Price Prediction 2026, 2027, 2030[3] Solana integrates first Strategy STRC product via Solstice Finance - Crypto Briefing[4] T. Rowe Price defends inclusion of memecoins in active crypto ETF - Crypto Briefing
