Strata Junior NUSD wallet

What is Strata Junior NUSD (JRNUSD)?

Strata splits a strategy in two and issues each piece as its own token. JRNUSD is the junior piece of the NUSD pair: last in line for proceeds, first in line for losses. Everything else about the token follows from that position in the waterfall.

The underlying, NUSD, is a synthetic dollar token, so the whole structure is denominated in dollars. That does not make the junior claim dollar-stable. It is a leftover claim, and what it redeems for depends on how the underlying strategy performed and what the senior tranche is owed first.

Holding it day to day

The token is a standard ERC-20 on Ethereum. The number of units in the wallet does not change by itself; the tranche's accounting moves the redemption value per unit instead. Entering and leaving go through Strata, and both ends are Ethereum transactions, which means ETH has to be sitting in the same wallet for gas at the moment you want to act.

Watch the ticker carefully as well. NUSD, JRNUSD and SRNUSD are three different tokens, and names built from the same stem are easy to confuse in a token list.

Supported networks in Tangem (1): Ethereum.

On the practical side, Tangem keeps the gas ETH and the tranche token in one wallet and signs by holding the card to the phone, so the redemption transaction takes a tap whenever the moment comes. That removes the small friction that usually makes people delay an exit.