Solstice Finance has launched $strcUSX, a Solana-based structured product that separates the dividend income and market-price risk associated with Strategy Inc.’s Nasdaq-listed Series A Perpetual Preferred Stock, STRC.
STRC currently pays a 12% annualized cash dividend twice a month, although Strategy’s board can change the rate. The preferred stock also carries market-price risk that can cause investors to lose principal even when dividend payments continue.
$strcUSX divides that exposure into 2 Solana tokens: $SR-strcUSX and $JR-strcUSX.
Two Distinct Exposure Classes
The senior $SR-strcUSX tranche targets approximately 7% APY and receives priority on dividend income and principal recovery. The junior $JR-strcUSX tranche targets more than 20% APY but absorbs mark-to-market losses first in exchange for the higher potential return.
Users deposit Solstice’s $USX token into the vault and receive the tranche matching their risk preference. Both tokens operate as SPL tokens, allowing users to trade them or use them across compatible DeFi applications.
Solstice said redemptions require a 7-day unlock period, while users can exit immediately by paying a fee. Yield accrues through the tokens’ exchange rates rather than separate distributions.
Unlike xStocks’ $STRCx and Ondo’s $STRCon, the product does not tokenize STRC shares or give users ownership of Strategy’s preferred stock. Instead, it provides exposure to the economics of a portfolio holding the security.
Season 2 $SLX Claims Open
The launch comes as Solstice opens claims for its Season 2 $SLX airdrop.
Users must register their wallets and select a vesting schedule by August 18. The default option carries a 9-month vesting period, while the 6-month option requires users to hold their Season 2 TVL.
The next unlock takes place on August 20, 2026. Daily unlocks will then become available according to each holder’s selected vesting schedule. Claims remain open until the end of the applicable vesting period.
Solstice claims approximately $35 million in capital remained in Season 2 and that participants combined yield from their holdings with $SLX rewards from Flares to generate roughly 25-30% over the season. Season 3 went live on August 1.
Positive Community Reaction Despite $SLX Facing Sell Pressure
Community reactions have highlighted generally positive outcomes. One participant reported receiving about 91,000 $SLX, worth roughly $7,500, after building significant Flares exposure through YT-USX.
Another reported spending $245 on a YT position and receiving 16,548 $SLX, valued at about $1,500, representing a claimed 512.24% ROI.
A separate participant reportedly spent about $21,000 across Seasons 1 and 2 and received 957,700 $SLX worth approximately $75,000.
$SLX is trading near its reported all-time low of $0.07436, leaving the market value of these allocations below what they could have been at higher levels. 
For participants who chose the 9-month vesting option, the Season 1 allocations continue to unlock daily until March 2027. The Season allocations increase the number of $SLX tokens unlocking daily from August 10. Despite this overhang on the token, participants have generally reported the campaigns to be massively profitable, even at current prices.
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