srUSD Monetary System

How srUSD is issued, capped, and kept redeemable across the Strata system.

srUSD is Strata’s stable settlement unit: a collateralized digital dollar backed by tokenized reserves and redeemable 1:1 for USDC on-chain. This page covers how it is issued and supply-controlled. For the peg floor, see Collateral & Peg.

Design goals

Neutral settlement

A non-yield-bearing, fully-redeemable unit usable as settlement and collateral across every Strata engine.

Real backing

Backed by tokenized silver reserves and approved collateral, not by projections or endogenous tokens.

Mechanistic redeemability

A contract-level redemption path, not trust-and-intervention.

Coherent risk

Issuance gated by a shared risk framework rather than per-engine logic.

Issuance and supply control

Every engine that can mint srUSD routes through a global money-policy controller and engine registry. These enforce:

• System-wide caps — an absolute ceiling on outstanding srUSD
• Per-SPV caps — limits on issuance against any single vehicle
• Per-engine caps — limits on how much any one engine can mint
• Throttles — rate limits on issuance changes

This is why Money is the control plane: no engine issues srUSD outside the caps and throttles the controller enforces. Launch capacity is ~$250M srUSD.

Collateral classes

srUSD is minted against approved collateral with conservative collateral ratios:

Asset type	Collateral ratio
Vaulted silver	125–150%
Gold	150–200%
Royalty streams	500–800%
Private credit	600–1000%

Collateral eligibility and ratios are set by the Risk Committee through the shared risk framework. See Governance.

Companion instrument: srSILVER

srSILVER is a tokenized representation of vaulted silver, backed by SPV-held reserves and redeemable for USDC at spot silver value. It provides commodity exposure and serves as DeFi collateral. Launch capacity ~$50M.

Collateral & peg mechanics

The autonomous redemption floor that keeps srUSD near $1.