Strata Junior mHYPER wallet

What is Strata Junior mHYPER (JRMHYPER)?

JRMHYPER is the junior half of a Strata tranche pair. Strata takes a single underlying strategy, splits the claim on it into two tokens, and sells them separately: a senior tranche with first claim on proceeds, and a junior tranche that stands behind it. Junior holders absorb shortfalls before senior holders feel anything, and in exchange the junior tranche carries the leveraged share of whatever the underlying produces. That ordering, not the strategy itself, is what you are buying when you hold the junior token.

The underlying here is mHYPER, a tokenized strategy wrapper rather than a coin with its own chain. JRMHYPER therefore inherits everything about mHYPER, including how quickly that wrapper can be valued and unwound, and adds the subordination on top.

Points that matter in practice:

• The junior and senior tokens of the same pair are not interchangeable and trade as separate assets, despite sharing a name stem. Adding the wrong one to a wallet is an easy mistake.
• The balance is a share count. Movement in the position shows up in redemption value, not in the number of tokens.
• Redemption terms are set by the tranche structure, so exiting is not always immediate.
• It is an ERC-20 on Ethereum and every action costs ETH in gas.

Supported networks in Tangem (1): Ethereum.

Subordinated paper is bought to be held through a full cycle, and the key that signs for it may go untouched for a year. Tangem generates that key inside the card's secure element, where it stays; a second identical card put somewhere separate serves as the backup, and a seed phrase is available if you want one rather than required. For a position measured in cycles, keys that sit idle safely are the whole requirement.