STRIP

KEEP THE PRINCIPAL.SELL THE YIELD.

THE ONCHAIN MARKET FOR FUTURE YIELD

Deposit into a verified yield source. Keep the principal-side claim. Sell the positive yield generated until maturity.

CREATE YIELD RIGHT VIEW MARKETS
REAL EXTERNAL YIELDSAME-ASSET SETTLEMENTNO PRICE ORACLE

One position.
Two owners.

A yield-bearing deposit normally bundles capital and future yield together. STRIP makes those two economic rights independently ownable while the assets remain deployed in a named vault.

KEEP

Principal

The right to receive up to the original principal at maturity. If the vault loses value, this side bears the loss.

SELL

Yield Right

The right to positive yield above principal until maturity. Its owner can hold it, resell it, or win it at auction.

DEPOSIT10,000 USDG

Assets enter Steakhouse USDG, a verified Morpho vault.

SEPARATEPrincipal + Yield Right

Two transferable NFTs carry the same position number.

PRICE THE YIELD150 USDG

Sell immediately or let buyers bid in the underlying asset.

SETTLEMENT EXAMPLE

The vault determines the payout. STRIP determines who owns each side.

If 10,000 USDG becomes 10,280 USDG at maturity, the Principal owner receives 10,000. The Yield Right owner receives the positive 280, less the 5% realized-yield fee.

Principal payout10,000 USDG
Net yield payout266 USDG
Example only. This is not a yield forecast. Principal and yield are not guaranteed.
Settlement payoutIllustrative mechanics · 10,000 USDG principal
Principal and Yield Right payouts at settlementThe Principal payout rises with redeemed value until it reaches 10,000 USDG. The Yield Right payout remains zero until redeemed value exceeds 10,000 USDG, then rises with positive yield.04,0008,00010,000 threshold12,000Principal payoutYield payoutPOSITION VALUE AT SETTLEMENT
Below 10,000 USDG, the Principal owner bears the loss and the Yield Right receives zero. Only value above principal becomes yield.

Future yield.
Priced now.

Every market below comes directly from onchain ownership and marketplace state. Zero activity is shown as zero.

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Buy now

Fixed-price Yield Rights available immediately.

No Yield Rights are currently listed.

Auctions

Open bidding in the underlying asset, settled entirely onchain.

No Yield Right auctions are currently open.

Separation, not insurance.

Yield sourceSteakhouse USDG

Morpho Vaults V2 on Robinhood Chain.

SettlementPermissionless

The complete vault position is redeemed once after maturity.

RiskPrincipal can fall

STRIP does not guarantee yield, principal, solvency, or liquidity.

Ready to separate your first position?

CREATE YIELD RIGHT