Latest News:
Binance Labs announces investment in Perena's core development team Quine Co., supporting the establishment of a stablecoin infrastructure protocol on Solana. The investment from Binance Labs will support the Perena team in scaling, developing a global community, and building a comprehensive suite of stablecoin products on Solana.
Perena aims to build a more decentralized, efficient, and accessible financial system by combining DeFi innovations with traditional financial principles.
Perena recently launched Numéraire, a weighted multi-token scalable stablecoin swap protocol (stableswap) that does not require actively managed concentrated liquidity market makers (CLMM), significantly reducing the capital requirements for new stablecoin issuance.
What is Perena?
Perena is building stablecoin infrastructure to pave the way for a more efficient, convenient, and equitable financial system. Users can enjoy guaranteed redemption of cash-equivalent assets issued by regulated entities and diversified, risk-free yields.
Tags: Infrastructure, Stablecoin Issuers
Established: 2024
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Introduction to the Perena Team:
Anna Yuan is a co-founder of Perena and was previously the stablecoin lead at Solana. She holds a Bachelor's degree in Philosophy from the University of Chicago and an MBA from Harvard Business School.
Perena Funding Details:
According to Coindesk, the stablecoin infrastructure protocol Perena has completed approximately $3 million in Pre-Seed funding, led by Borderless Capital. The protocol was founded by Anna Yuan, the former stablecoin lead at the Solana Foundation.
Anna Yuan stated that Perena is establishing exchange pools that allow traders of seven different stablecoins to swap between assets. Stablecoin holders will be able to earn additional returns by lending assets into the pool.
Previously
, Binance Labs announces investment in the stablecoin infrastructure protocol Perena.
Why Perena is important for the development of stablecoins:
Unified Liquidity:
Technical Description: Perena's Numéraire AMM integrates the liquidity of major stablecoins (such as USDC, USDT, PYUSD) into a central seed pool. This pool is tokenized as USD*, appreciating in value as fees increase. The growth pool expands this liquidity by pairing USD* with new stablecoins, ensuring liquidity concentration across the entire market.
In simple terms: Perena does not set up separate funding pools for each stablecoin but creates a large stablecoin pool, making trading between them easier and cheaper. For new stablecoin projects, this is like joining an already vibrant market rather than starting from scratch.
Capital Efficiency:
Technical Description: Numéraire uses bounded liquidity and smart swap routing to maximize capital utilization. Concentrated liquidity allows trades to be closer to the stablecoin peg, reducing slippage and increasing fee generation for liquidity providers.
In simple terms: Perena makes every dollar work harder. Trades are cheaper and smoother for users, and liquidity providers can achieve better returns without constantly adjusting their investments.
Currently, Perena is still in its early stages, but the cryptocurrency space is evolving rapidly. As the adoption of stablecoins continues to rise, such infrastructure will be crucial. They are building on the foundation of Solana, leveraging its speed and low costs—which is ideal for the stablecoin market. The development of Perena is exciting, especially with rumors that they will soon announce fundraising news!
