Strip turns productive collateral into recurring STRIP demand. Users deposit supported yield-bearing assets and receive Principal Tokens representing deposited value. The principal remains liquid; the yield is routed through the system: half compounds back into the vault, half buys and burns STRIP.
Your principal is represented by Principal Tokens: a liquid claim on notional deposited value. Not a lockup, not a maturity product, not a withdrawal queue. PTs can be held, staked, transferred, or supplied as liquidity, and the principal claim stays with you throughout.
You are choosing where the yield goes. In a normal yield system, realized yield is paid directly to the depositor. In Strip, it is routed into the protocol loop: half compounds the vault, half buys and burns STRIP. In return, you compete for STRIP emissions through PT staking and PT/STRIP liquidity, amplified by Lockless Boost if you build and sustain STRIP exposure.The honest arithmetic: the position makes sense while your emissions, valued at a STRIP price you consider realistic, exceed the underlying yield you are routing. See Principal Tokens for the trade stated plainly.
Claims open at a fixed timestamp stored onchain, at the end of the 30-day Genesis. During Genesis, emissions accrue to staked positions exactly as they always will, with a boost that ramps from 1x toward 5x based on time staked; only claiming waits. The date is set at deployment and verifiable by anyone: it is a schedule, not an announcement.
During Genesis there is no STRIP market, so there is no market price to compute an APR from. The app shows your accrued STRIP directly and lets you set an assumed fully-diluted valuation; the APR displayed is derived from your assumption and labeled as hypothetical. The accrued amounts underneath are onchain and identical for everyone regardless of assumption.
Why does Genesis ramp stop at 5x when boost goes to 20x?
Because Genesis is already the best-paid month in the schedule, and the boost curve certifies something a tokenless month cannot show. Genesis participants take real risk, routing away all of their underlying yield for rewards that cannot yet be claimed or priced, and they are compensated through the richest per-dollar emission share the protocol will ever pay: the highest daily rate of the curve, divided among the smallest staked base. The 5x carry is a second payment on top, a head start no later participant gets. The path from 5x to 20x is reserved for demonstrated token holding, which can only be shown by keeping STRIP through real market exposure once it trades. See Launch Phases.
Two sources: routed yield and market activity. Half of every realized harvest buys and burns STRIP, and 70% of PT/STRIP swap fees route to staked STRIP holders through stSTRIP. Productive collateral creates the output; routing turns that output into STRIP demand.
No. Strip uses no lockups, withdrawal queues, or maturity dates. Users exit through the vault mechanics attached to their Principal Tokens. Lockless Boost rewards sustained alignment, but it never traps capital.
Boost multiplies the STRIP emissions you claim, based on your sustained STRIP exposure. Everyone starts at 1x; sustained exposure grows the multiplier to a maximum of 20x after 60 days. Dropping below your sustained exposure floor resets it to 1x. The point is to reward continuity without forcing lockups; see Lockless Boost.
Your STRIP exposure: STRIP held in your wallet, STRIP staked in stSTRIP, and the STRIP inside your staked sWLP positions across every vault’s pool. Staking Principal Tokens earns you the emissions that boost multiplies, but the act of staking PT itself does not move the clock, and unclaimed rewards do not count either. Exposure starts when STRIP is claimed and kept. During Genesis, before STRIP exists, the multiplier ramps from 1x toward 5x based on time staked, and the level you reach carries forward once claims open.
Dropping your sustained STRIP exposure below your floor: selling STRIP, transferring it to another wallet, unstaking sWLP or removing liquidity beyond your floor, or depositing STRIP or sWLP into contracts the boost system does not recognize (lending markets, bridges, exchanges, and the STRIP/USDC convenience pool, which is not an alignment venue). Staking STRIP into stSTRIP does not reset your boost; neither does claiming rewards, and staking or unstaking Principal Tokens is boost-neutral. The full table is on Lockless Boost.
In two layers. First, each vault’s performance, APR × TVL, sets the combined share of emissions its two venues receive, so the vaults earning the most yield for the system command the largest budgets. Then that budget splits between the vault’s PT staking and PT/STRIP liquidity venues following the published policy on Launch Phases: all-staking during Genesis, roughly half-and-half while claimed STRIP builds market depth, then a depth-targeted split in steady state. Split changes among registered venues execute immediately and are logged onchain; adding or removing pools requires a 24-hour timelock.
Every vault has its own PT/STRIP pool connecting the principal side of Strip to the token side; we say PT/STRIP for simplicity. All liquidity in each pool flows through that pool’s PoolWrapper, which issues its own sWLP, the only LP position on that pool. Staked sWLP earns STRIP emissions and is eligible for boost, with exposure summed across pools onto one alignment clock. See PT/STRIP Liquidity.
Three paths: the LP share of swap fees (10%, through pool reserves), STRIP emissions and boost (by staking sWLP), and the 70% stSTRIP fee flow (by staking earned or acquired STRIP into stSTRIP). The stSTRIP flow is not automatic; it must be captured by staking STRIP.
Yes, a small one, seeded by the treasury at launch as unstaked protocol-owned liquidity. It exists for aggregator routing and price visibility: a stable-quoted pair gives indexers a clean USD reference. It is deliberately outside the incentive system: no hook, no fee split, no emissions, and providing liquidity there does not count toward Lockless Boost. The canonical, incentivized venues are the PT/STRIP pools.
The staking layer for STRIP. PT/STRIP pools charge a fixed 0.3% swap fee, and 70% of it routes to stSTRIP, distributed to staked STRIP holders. Fees collected in PT are converted to STRIP before distribution, so rewards are always paid in STRIP. Staking and unstaking are instant. See Staked STRIP.
The maximum supply is fixed at 1,000,000,000 STRIP. What changes over time is circulating supply: scheduled emissions increase it, and buyback-and-burn reduces it. Realized emissions can only ever be at or below the schedule, because claims are scaled by boost and the difference is never minted. The important number is net circulating supply; see Supply Dynamics.
Not today. STRIP and Principal Tokens are built on a cross-chain token standard (LayerZero OFT) so that future multi-chain deployment is possible, but no bridging is live and there are currently no active cross-chain plans. The protocol operates on Arbitrum One.
No. The 50/50 yield split, the emission decay curve, the boost bounds and claim-time enforcement, and Principal Token redemption mechanics are fixed in code and cannot be changed without redeploying the protocol. Boost values are computed offchain under published rules and attested onchain per epoch; see Trust Assumptions for exactly what that requires you to trust. Operational roles exist for routine execution and safety, pass sensitive changes such as adding or removing emission pools through a 24-hour timelock, and cannot custody user principal.
Collateral risk, yield risk, liquidity risk, smart contract risk, oracle and rate risk, keeper execution risk, market and incentive risk, and Genesis risk. The protocol makes the economic flows visible, but visibility is not the same as certainty; read Risks in full before participating.
