Hermetica has added Strive’s SATA preferred stock to the assets backing USDh. The integration builds on Hermetica’s early adoption of digital credit, expanding USDh’s income sources from Strategy’s STRC to Strive’s SATA.
What Is Strive’s SATA?
Strive (Nasdaq: ASST) is a publicly traded structured finance company focused on Bitcoin accumulation, with holdings exceeding 43,000 BTC.
Strive’s preferred equity SATA (Nasdaq: SATA) offers a 13.00% annualized dividend rate, calculated on a stated value of $100 per share. Dividends are declared monthly and paid each business day. SATA ranks senior to Strive’s common equity and SATS, its other preferred stock, in dividend payments and claims on assets in liquidation.
SATA has approximately 14 million shares outstanding, representing $1.4 billion in stated preferred capital. Over the trailing 30 days, SATA averaged over $50 million in daily trading value. Strive also maintains a dividend reserve, covering ~ 18 months of combined SATA and SATS dividend obligations at current rates.
How USDh Earns From SATA
Hermetica purchases and holds SATA shares through its brokerage account with Clear Street, a U.S. broker-dealer and member of FINRA and SIPC. SATA dividends contribute to the yield distributed daily to sUSDh holders, alongside income from USDh’s other strategies.
Strive targets a SATA trading price between $99 and $101, adjusting its dividend rate to support demand. If a decline in trading price reduces the value of Hermetica’s holdings, the Reserve Fund steps in to cushion the impact on USDh’s backing.
SATA holdings are disclosed on Hermetica's Transparency Dashboard and will be included in upcoming monthly reserve attestations.
Existing USDh stakers automatically earn from SATA alongside USDh’s other yield sources, with no action required. Holders can increase their allocation by staking more USDh, while new users can access the same strategy through the Hermetica app.
