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Introduction

Strip is a protocol for separating principal from yield and routing that yield into a single, compounding system. When you deposit a yield-bearing asset, it splits into two pieces:
  • PT (Principal Tokens), redeemable 1:1 for the dollar value of your deposit.
  • STRIP represents your claim on all yield generated across the protocol.
Most protocols return yield to depositors and leave it at that. Strip takes a different approach. Yield is pooled at the protocol level and put to work. The vast majority compounds permanently, expanding the base that generates next cycle’s yield. A portion buys and burns STRIP from the market, anchoring the token’s value to real economic output rather than sentiment. The structure is simple: 1% protocol fee, 10% of yield to STRIP buybacks. The performance allocation flows to STRIP holders permanently, on a base that grows every cycle. In effect, depositors exchange individual linear yield for exposure to collective, compounding yield. STRIP emissions start with PT stakers, then shift to liquidity providers. Early participants get more emissions per dollar and more time for compounding to accumulate. Strip is perpetual. No expiries, no rollovers. All yield converges into one place: STRIP.