Here's an invite code for perena.org:
validator_zkrollup_zkproof
tornado_jupiter_substrate
leverage_solana_snapshot
sharding_resistance_optimism
The above is the invitation code
Stablecoins have always received significant attention as one of the core infrastructures of decentralized finance (DeFi) ecosystems.
On December 11, Binance Labs announced its investment in Perena's core development team Quine Co., supporting the establishment of the first stablecoin infrastructure protocol on Solana.
As a core player in the stablecoin sector, Tether made a profit of up to 5.2 billion dollars in the first half of this year, exceeding 30 million dollars in a single day. Despite the previous collapse of Luna, many projects continue to build in the stablecoin sector.
Recently, ENA returned to 1 U, Usual rose nearly 60% in a week, and ANZ surged 3 times in a day. Stablecoins across various chains are continuously developing. This article will give you a brief overview of the project - Perena, which has been favored by major VCs since its early days.
What is Perena
The current stablecoin market has a funding scale of 200 billion dollars, and the number of new stablecoins is also increasing. Issues such as stablecoin fragmentation, isolated liquidity pools, and user experience are gradually emerging. Perena is dedicated to solving these issues. As the infrastructure of the stablecoin sector, it does not compete with USDC, PYUSD, etc., but provides more efficient and convenient trading for them.
Perena primarily provides an efficient and flexible multi-asset stablecoin exchange platform for the Solana ecosystem, aiming to create a borderless monetary infrastructure. Since Binance announced its investment, the TVL has rapidly grown to nearly 1 million dollars.
The Perena team has strong capabilities. The founder of Perena, Anna Yuan, was the head of stablecoins at the Solana Foundation. During her tenure, she made significant contributions to the increase in stablecoin issuance on Solana and the launch of non-USD stablecoins, doubling the stablecoin issuance to 3.6 billion. The team includes professionals from institutions like Jump Trading. Furthermore, the team has collaborated with central bank governors and regulatory agencies on stablecoin regulation.
In terms of financing, Perena has not only received support from well-known investors such as Solana co-founders Anatoly Yakovenko and Raj Gokal, but also gained favor from numerous institutions. It has completed a Pre-Seed round of financing led by Borderless, with investors including Binance Labs, Primitive Crypto, Anagram, Temporal, ABCDE Labs, SevenX Ventures, etc., raising approximately 3 million dollars. Additionally, Perena has formed partnerships with several DeFi protocols.
How Numéraire works
Perena has already launched its first product - Numéraire. Numéraire is a multi-asset stablecoin exchange system that introduces the concept of USD*. It utilizes an AMM mechanism to achieve seamless creation and exchange of stablecoins while optimizing liquidity and efficiency across various markets. It addresses the fragmentation issue in the stablecoin ecosystem and lowers the capital requirements for new stablecoin issuance. Users can mint stablecoins through the protocol, obtain tokenized returns from real-world assets, and utilize the layered collateral debt position system to achieve customized risk-return configurations. However, while Numéraire claims to be a cheaper and more efficient stablecoin exchange, it may currently face greater wear than platforms like Raydium due to liquidity issues.
USD* is the core element of the Numéraire system. It is a holdable LP (liquidity provider) token that is already tradable and can yield potential returns. Through the concept of USD*, Numéraire not only achieves higher capital efficiency but also offers greater flexibility. All stablecoins share the same liquidity pool, reducing capital fragmentation. The lending feature will allow excess stablecoins to be lent out, further improving capital utilization. Meanwhile, adding stablecoins only requires establishing a relationship with USD*, allowing exchange with all other stablecoins in the system. USD*, as an intermediary unit, can help achieve more accurate price discovery and reflect the real-time valuation of various stablecoins in the market.
Numéraire provides an efficient and flexible multi-asset stablecoin exchange platform for the Solana ecosystem through USD*. It not only simplifies the user experience but also offers more efficient liquidity management solutions for the DeFi ecosystem, with advantages including:
Integrating the dispersed liquidity between different stablecoins
Achieving efficient price discovery and settlement mechanisms
Providing risk-return opportunities
Scaling up to meet institutional adoption and real-world needs
How to participate
Currently, the project is still in the early stages, with only Swap and Pool functionalities open. By trading between stablecoins and forming LP, Petal Points can be earned. The Swap pool can be accessed without an invitation code, while the Pool requires a referral code or achieving 700 points to open. Referrers can earn 5% of the points obtained by referred users. When 700 points are reached, 4 invitation codes can be generated, and for every additional 1000 points, 2 more invitation codes can be obtained. Using a referral code during registration will grant both the user and the referrer 100 Petal Points. The Pool function remains permanently open once accessed. Currently, trading supports 7 stablecoins including USDC, PYUSD, sUSD, etc.
Daily point earning method:
Swap:
A maximum of 500 points can be earned from daily transactions. Up to 10 transactions can be made daily, with 1 dollar valued at 0.1 points, and a maximum of 50 points can be earned per transaction (500 U transaction amount can earn maximum points).
Pool: (Currently no point limit, the larger the amount, the more Petal Points)
Seed Pool: 10 petal/$/day
Growth Pool: 20 petal/$/day
USD*: 100 petal/day (balance greater than 100 dollars)
Other LP tokens: 100 petal/day (balance greater than 100 dollars) for example, sUSD-USD* LP, USDS-USD* LP
Perena has a beautiful vision and a luxurious investment background. However, as an on-chain stablecoin exchange platform, whether this demand truly exists remains questionable. Currently, trading stablecoins on centralized exchanges is still fee-free, which may require more competition with centralized exchanges compared to on-chain trading platforms like Raydium. Perhaps only when on-chain funds continue to flow in, on-chain applications flourish, or there is a true integration with real assets (such as wage issuance), can Perena play a greater role.
