A new asset class · Base

Trade the layers of a launch.

You can buy a token. Or you can buy the part of the chart it hasn't reached yet. STRATA fractionalizes a launch's upper V3 ranges into ERC-20s and sells them pre-launch — defined-payoff range exposure, with the market's belief charted as live implied probability.

Explore band markets → How it works
STRATA — geological cross-section price chart
0spot supply sold
24hTWAP to convert a band
40%of raise seeds launch LP
cappeddefined payoff per band
How it works

Price the milestone, not the token.

A BandToken (e.g. sTOKEN-C) is a pro-rata claim on the ETH that band C's supply converts into — if and only if price fully crosses band C and holds. Capped upside, known mechanics, ticks published before the sale.

Core sample — a band converting to ETH
  1. 01 · Factory mints the ladder. Bands A–B vest to the team; bands C–D are flagged forSale.
  2. 02 · A fixed-window sale: deposit ETH, receive BandTokens pro-rata. 40% of the raise seeds the launch's own liquidity.
  3. 03 · Token launches. If price crosses band C and TWAP-holds, the band settles to ETH and redemption opens.
  4. 04 · Holders redeem() for their pro-rata ETH. Never crossed? After expiry, a two-leg partial settlement distributes whatever the position holds.
Band markets · illustrative

Band price ÷ conversion value = the market's live odds.

Because band claims are plain ERC-20s, they trade instantly. The price the market pays for C-exposure, divided by C's full conversion value, is the implied probability the market assigns the milestone. We chart it.

BandMilestoneImplied oddsDistance
C$1M → $5M layer
34%+182%
D$5M → $25M layer
12%+820%
B$250k → $1M layer
61%+44%

Illustrative figures · contracts in build, settlement suite shipping to testnet

Defined payoff

Capped upside. Known mechanics. No oracle, no swaps.

Settlement snapshots at the moment a band crosses — a later retrace can't claw it back. If a band never crosses, holders still receive a pro-rata share of both legs the position holds. You always get something; the contract decides it, not a desk.

payoff = min(climb, bandConversionValue)

Options-style capped payoff diagram
Range exposure, not investment. A BandToken is a conditional conversion claim on liquidity — not spot supply, not governance, not a debt or yield instrument, and not a promise of profit. The sale frontend is geo-fenced and carries a risk-disclosure interstitial. Tick targets and band supply are immutable and published before any sale.
First cross-section opens soon

Every launch has strata.
Now they trade.

Get notified →