Skip to content

STRIPR_PROJECT_SPEC.md

Latest commit

 

History

History
53 lines (38 loc) · 2.32 KB

STRIPR_PROJECT_SPEC.md

File metadata and controls

53 lines (38 loc) · 2.32 KB
Raw

STRIPR - Pendle for Tokenized Stocks (Yield Stripping Protocol)

Stocklana Hackathon Submission ($100,000 Prize Pool) Host: Solana Foundation & Colosseum (hackathons.solana.com/hackathons/stocklana) Target: 1st Place Deadline: September 18, 2026 Category: Credit and Yield Core Tech Stack: Solana, Anchor (Rust), SPL Token, Next.js 14, Tailwind CSS License: Apache 2.0 Open Source Author: mrnetwork (NetLayer Labs)

Executive Summary

Stripr is a decentralized yield-stripping protocol for tokenized dividend-paying stocks on Solana.

Taking inspiration from Pendle Finance, Stripr allows users to deposit tokenized stocks (e.g., AAPL) and splits them into two separate SPL tokens:

  1. Principal Token (PT-AAPL): Represents the underlying stock asset.
  2. Yield Token (YT-AAPL): Represents the right to claim all future USDC dividend distributions from the underlying stock.

By separating principal from yield, Stripr introduces a massive new DeFi primitive for Real World Assets (RWAs). Users can speculate on dividend yields without price exposure, or buy discounted principal stocks.

Solana Architecture (Anchor)

The Vaults (PDAs)

  • Asset Vault: Holds the underlying tokenized stock (SPL AAPL).
  • Dividend Vault: Holds the USDC dividend payouts.

Core Instructions

  1. strip_stock(amount): User deposits AAPL into the Asset Vault. Protocol mints 1 PT-AAPL and 1 YT-AAPL to the user.
  2. distribute_dividend(amount): An admin/oracle deposits USDC into the Dividend Vault when a corporate action (dividend) occurs.
  3. claim_yield(): Users holding YT-AAPL can burn/lock their tokens to claim their pro-rata share of the USDC dividend pool.

Frontend Dashboard (Next.js)

A mobile-first, highly polished consumer Web3 application.

  • Theme: Obsidian & Emerald (Glassmorphism, institutional grade).
  • Actions:
    • Connect Solana Wallet (Wallet Adapter).
    • Deposit SPL stocks and view PT/YT balances.
    • Track USDC dividend accrual and execute claims.

Hackathon Submission Requirements

  • Real user & problem identified (Capital efficiency & yield trading).
  • Working end-to-end demo (Next.js app + Solana Localnet/Devnet).
  • Reason it belongs on Solana: High-frequency corporate actions and micro-dividend distributions require sub-cent fees.