Pendle launches STRC-protected fixed income exposure product srRoyAPYUSD

Foresight News reports that the yield trading protocol Pendle has announced the official launch of srRoyAPYUSD (maturing in November 2026), supported by Royco Protocol, introducing protected fixed income exposure to STRC tokens within Pendle's yield trading layer.

Royco splits apyUSD into two tranches: Senior and Junior. As senior capital, srRoyAPYUSD enjoys protected yields and will only bear losses after the junior capital is exhausted. When apyUSD experiences a drawdown, the system will initiate a 30-day observation period, pausing withdrawals from senior accounts and transferring all yields to the junior tranche in order to prioritize loss absorption.