strUSD Yield: Earn up to 29% APY on strUSD/USDC

strUSD is the staked, yield-bearing version of trUSD, Tori Finance's synthetic dollar collateralized by the protocol's on-chain trading positions and redeemable for USDC or USDT by eligible users. trUSD is staked to mint strUSD, whose exchange rate against trUSD rises with the performance of Tori's delta-neutral strategies, which hold no directional view on crypto prices.

How the strategy works

This is a max-APY yield loop: strUSD is supplied as collateral and USDC is borrowed against it on Morpho, then recycled back into strUSD to multiply the underlying Delta-Neutral Trading yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.

Strategy details

Collateral asset

Staked trUSD (strUSD)

Borrowed asset

USDC

Issuer

Tori Finance

Yield source

Delta-Neutral Trading

Underlying

trUSD

Category

stable

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

11.04%

Net borrow APY

7.73%

Max leverage

7.0x

Default leverage

6.7x → 29.91% APY

Leverage ladder

1x 11.04% · 2x 14.35% · 3x 17.66% · 4x 20.97% · 5x 24.28% · 6x 27.59% · 7x(max) 30.90%

Oracle type

nav

Exit slippage

$100k 0.01% · $500k 0.07% · $1M 0.13% · $5M 6.02% · $10M 51.91%

as-of 2026-08-20T09:34:34.372Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

Tori Finance website · All strategies