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.
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.
as-of 2026-09-29T07:25:49.782Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1