EXOTIC BRANES AND BLACK HOLE MICROSTATES
Besides ordinary branes such as D-branes, string theory is known to contain exotic branes which are related to ordinary branes by U-duality. Exotic branes are codimension-two objects and have non-trivial U-duality monodromies around them. This means that they are intrinsically non-geometric. Even if one starts with a system only with ordinary branes, exotic branes can be spontaneously generated by the supertube effect. We argue that, if one puts together more than two mutually supersymmetric branes, then, by a multi-stage supertube effect, the system will polarize into an exotic brane extending along an arbitrary surface, dubbed as the superstratum. We conjecture that, black holes in string theory, which are constructed by combining multiple ordinary branes, necessarily include exotic superstrata as their microscopic ingredients. We review the argument for the existence of superstrata and the recent progress toward constructing examples of superstrata in the framework of supergravity in six dimensions.