The RealFi protocol issues USDrf, a stablecoin pegged to the US dollar and backed by real-world assets, including business loans, Treasury bills, and floating-rate bonds. Users can stake USDrf to receive sUSDrf, a yield-bearing token. According to protocol documentation, sUSDrf holders are exposed to portfolio losses before the protocol reserves.
Strike Finance, a perpetual futures exchange on Cardano, currently lists an annual percentage rate of 49.31% for sUSDrf. The platform allows users to use sUSDrf as collateral for loans with a maximum loan-to-value ratio of 100%. As of mid-October, the exchange reported approximately $119 200 in loans backed by the token.
On October 17, Strike Finance reported that its vault held nearly $100 000 in USDrf, with an additional $50 000 deposited within an hour. Following this, a prediction market was launched on the Bodega platform to track whether deposits in the Strike Finance vault will reach the $1 million mark.
Data from GitHub indicates that as of October 8, a single holder controlled approximately 66% of the RealFi staking vault, which held about 2.58 million USDrf. Meanwhile, the native token of the Strike exchange, STRIKE, is currently trading roughly 77% below its August 2025 peak.
