Stral Whitepaper

01Overview

Destral is an all-in-one self-custodial DeFi platform. A user opens one account, and that account is theirs: a smart contract deployed on chain, controlled by a key they hold. From that single account they hold assets on multiple blockchains, swap between tokens, allocate to the vaults the platform operates, follow their positions, refer others, stake Stral and withdraw to the outside.

This document describes three things: the position the platform takes, how the account that carries it actually works, and the role of the Stral token inside it.

02The choice Destral refuses

Using crypto usually forces a choice between two models, and neither is satisfying.

Holding everything yourself. The user keeps their keys and controls their assets. In exchange they carry the whole burden: a seed phrase to protect for years, a native token to hold on every chain just to be able to move their own funds, a network to pick correctly each time, and mistakes that cannot be undone. The control is real, and so is the work.

Handing everything over. An intermediary holds the assets and does the work on the user's behalf. The experience is simpler, but the user depends on that intermediary for access to what they own.

Destral is built on the position that these two are not a package deal. The account stays the user's own, on chain, under a key they control. The simplicity comes from the infrastructure around the account: network fees are sponsored, a passkey can replace the seed phrase, and one account works across chains. Destral builds and operates that infrastructure.

03The platform

Everything Destral offers is reached from the same account. There is no second account to open and no separate onboarding for each feature.

From that account a user can:

• Hold assets across several blockchains. The account works on multiple chains, and Destral sponsors the network fees.
• Swap between tokens. Swaps are made directly from the account, without leaving the platform.
• Allocate to vaults. Vaults give access to strategies operated by Destral, and the value of each position can be followed from the account.
• Stake Stral. Staking reduces fees, gives priority in airdrops and raises the referral commission rate.
• Refer others. The referral programme is open to every user.
• Withdraw. Funds can be withdrawn to an external address of the user's choosing.

Identity verification is required to open an account. This is a deliberate position rather than a constraint to work around: Destral is not an anonymous protocol, and does not present itself as one.

The same account is designed to carry additional chains and features as they are added.

04The smart account

The account is not a database record. It is a smart contract deployed for each user by a factory contract, on each chain the platform supports.

Its address is computed before it exists. The factory derives each account address deterministically, so a user knows where their account will live before anything is deployed, and the same user has the same address across chains. Deployment is just the moment the contract is published at an address that was already determined.

The user signs, the platform pays. Every operation on the account is authorised by a signature from the account owner over a typed message, carrying a nonce that prevents it from being replayed. Destral then submits that signed instruction to the network through a relayer and pays the network fee. The consequence is concrete: a user never has to acquire a native token before being able to move their own assets, on any supported chain, and Destral never gains the ability to move funds out of the account without a signature.

This is the part that makes the rest workable. An account that requires its owner to hold a gas token, pick a chain and manage a seed phrase is an account most people will not use. An account where the operator can act alone is not the user's account. The signature and the relayer separate the two.

05Keys and ownership

An account can be controlled by a passkey, by an external wallet, or by both.

Passkeys are owners at the contract level. A passkey created on the user's device or password manager is registered as an owner of the account itself, and the contract verifies its WebAuthn signatures on chain, for both signature algorithms passkeys use in practice. This is worth stating plainly: the passkey is not a convenience layer bolted on top of a hidden private key held elsewhere. It is the key, and the contract checks it. Creating a passkey involves no seed phrase: the recovery key below is a separate and deliberate step.

An external wallet can be an owner too. Users who already hold a wallet can register it as an owner of the account and sign with it, through a browser extension or a mobile wallet.

An account can have several owners, which is what makes a device loss recoverable rather than final. A dedicated recovery key lets the owner regain control if their primary key becomes unavailable. Setting it up is an explicit step, open whichever key controls the account, and it produces twelve words shown once: they are drawn in the user's own browser, they reopen the key in any standard wallet, and Destral never holds them.

06What the contract enforces

Several guarantees do not depend on the interface behaving correctly, because they are written into the contract itself.

• Withdrawal destinations are approved on chain. Funds can only leave the platform towards an address the owner has registered beforehand, in a signed operation. An attacker who obtains a session is therefore not able to send the funds to an address of their own. Every other movement out of the account, towards a vault or towards staking, goes to a platform address the contract reads from its coordinator, and is signed as well.
• Only approved assets move into the platform. The set of tokens an account may send to the platform is held in a coordinator contract shared by every account, rather than decided per transaction by the interface. Withdrawals are deliberately not filtered this way, so whatever an account holds can always be taken out.
• Each instruction is used once. The account keeps a nonce, so a signed operation that has been executed cannot be replayed against it later.
• Ownership changes are operations like any other. Adding or removing a key is signed by an existing owner and recorded on chain, which means the list of keys that control an account is publicly auditable.

Every one of these is observable on a block explorer by anyone holding the account address, without asking Destral.

07Vaults

Vaults give access to strategies operated by Destral. A vault is a single position for the user, built from several strategies underneath. The user holds one position per vault, and the diversification happens below it.

Two vaults are open today. The Trading Vault, running since 2022, combines trend following, momentum, long term directional and mean reversion models. The Yield Vault, added in December 2025, combines stablecoin based and delta neutral allocations, private credit, tokenised real world assets and market making liquidity. Both are reached from the same account with the same deposit.

The rules for allocating to a vault and for exiting it, including timing and valuation, are set for each vault and documented on the platform.

08 The Stral token

Stral is the utility token of the Destral platform, and its purpose is alignment.

A platform of this kind creates value through the people who use it and the people they bring in. Stral is what connects the two. Staking it changes a user's position on the platform rather than giving them something to trade on the side: it lowers what they pay to use it, gives them priority when value is distributed to the community, and improves the terms of the referral programme.

The platform and the token are designed together. The more the platform is used, the more the token matters inside it; the more the token is staked, the better the terms for the people using the platform. That loop is the whole point.

Stral is not a separate product with an economy of its own. It has no utility outside Destral. That is deliberate: the role of the token is tied to the activity of the platform rather than to a parallel narrative.

09What the token does

• Lower cost of using the platform. Staking Stral reduces what a user pays for the services Destral operates. The reduction applies on its own, with nothing to claim and no action to take.
• Priority when value is distributed. When the ecosystem distributes value to the community, stakers are served first. There is no registration step and no list to join.
• Better terms on referrals. The referral programme is open to every user. Staking Stral raises the commission rate on that same programme, so the people who bring others in benefit from the platform growing.

These are platform terms, not a yield. They change what a user pays and what they receive for activity they were already carrying out.

10Supply and distribution

11Vesting

No tokens are released at the token generation event. Tokens sold during the four sale rounds are subject to a cliff, followed by monthly releases at a variable rate. All four rounds complete at month 40.

The first releases fall between 1 January and 1 April 2027, and the last one on 1 February 2030. Circulating supply is therefore very low at launch, and reflects this schedule rather than any retention.

12Contract