Convert Strata Senior USDe SRUSDE to Moonbirds BIRB

Strata is a generalized risk-tranching protocol that brings structured yield products to any on-chain or off-chain yield strategy by splitting yield into tokenized senior and junior tranches, each tailored to distinct risk–reward profiles. Senior tranche is essentially an over-collateralized, yield-bearing asset that offers minimum guaranteed yield at a benchmark rate and is protected against underlying counterparty credit risk, with coverage provided by the junior tranche. It is designed for risk-averse investors looking for safer, more predictable yields on digital dollars that outperform T-bill rates, Aave lending yield, Sky Savings etc. where conservative capital in DeFi typically resides today. Junior tranche is a liquid investment product and serves as a market-priced insurance fund that underwrites underlying strategy’s underperformance against the benchmark rate and counterparty credit risk. It is well-suited for users with a more aggressive risk profile, including DeFi-native power users, hedge funds, and yield farmers who seek higher yields and have a slightly higher risk tolerance. Strata’s dual-token design introduces a meaningful shift in risk management by splitting yield and risk exposure into distinct senior and junior tranches. By transforming the underlying yield strategy into risk-tiered tranches, allowing different types of investors to access yield based on their risk appetite, Strata is redefining how on-chain or off-chain yield is accessed, managed, and scaled across DeFi.

Moonbirds’ $BIRB is the native meme and utility token of the Moonbirds ecosystem, designed to support a community‑driven brand that sits at the intersection of NFTs, gaming, and “phygital” (physical + digital) collectibles. Issued on Solana, $BIRB is positioned as a light‑hearted, community‑oriented asset rather than a pure financial or governance token, while still playing a central role in coordinating rewards, access, and participation across Moonbirds’ digital collections and emerging real‑world products.