Dec 14th 2024 @ Joysong_J
TLDR
- The stablecoin market is growing at an astonishing pace, but also faces the challenges of centralization and fragmented liquidity;
- Perena is systematically building the critical infrastructure for stablecoins, helping stablecoins move from crypto innovation to mainstream financial applications;
- The Perena team has been deeply engaged in stablecoins for years, with world-class product capabilities and rich corporate resources;
- Perena is committed to building a more usable, liquid and profitable stablecoin infrastructure, driving the large-scale adoption of future stablecoin applications.
Stablecoin Market
2024 can be said to be the year of the explosion of stablecoins. According to data from defillama, the total market capitalization of stablecoins has exceeded $200 billion, with USDT reaching a historic high of $139 billion, and the market capitalization of USDC issued by Circle reaching $41 billion. The sustained growth of the market is not accidental. We believe there are two main drivers behind this:
- Institutional use cases of stablecoins, such as large-scale remittances and payments;
- Stablecoins have unique value potential as a financial instrument that can generate returns.
This trend makes us more confident that stablecoins will play an increasingly important role in the future, and also puts higher demands on the infrastructure.
The Battle of Stablecoins: New Digital Currencies are Rising
In fact, the prosperity of the stablecoin market has been brewing for years. From BUSD (Binance USD), PYUSD (PayPal USD) to the recently launched RLUSD (a yield-bearing stablecoin launched by Liquidity), more and more institutions are issuing their own stablecoins. As mentioned above, stablecoins are not just simple payment currencies, they are becoming the "new currency of the digital world", injecting unprecedented liquidity into the crypto market.
But as more and more institutions issue different types of stablecoins, we are seeing obvious liquidity fragmentation. We urgently need a powerful infrastructure to support their exchange and provide liquidity.
"The biggest challenge in the current stablecoin market is that - we have many stablecoins, but we don't have a unified infrastructure to collaborate efficiently. Perena is filling the missing link." said Anna, co-founder of Perena.
Perena has built a powerful stablecoin platform to manage stablecoin liquidity, control risks and integrate new programmable currencies.
Numéraire: Perena's Debut Product
In addition to the huge potential of the market, another important reason we invested in Perena is the team's strong execution. In just a few months, Perena has launched its first product - Numéraire, a multi-asset stablecoin Swap protocol. The core function of the platform is a multi-stablecoin liquidity pool, which further enhances the capital efficiency and liquidity of the stablecoin market by integrating multiple stablecoins into a single interchangeable and liquid token (e.g. USD*). USD* is essentially an LP token of a stablecoin pool (which can also be used as a stablecoin itself), with the pool containing stablecoins such as Tether, Circle and PayPal USD. Users can experience smooth stablecoin swaps on Numéraire, or become liquidity providers (LPs) to earn returns; for stablecoin issuers, the basket of stablecoin pools further solves the problem of stablecoin liquidity fragmentation in the market, while also reducing issuance risk.
This comprehensive and innovative design solves the systemic problems of stablecoins and lays the foundation for the future trillion-dollar decentralized finance system.
Product link: https://perena.org/
Team Introduction
Behind the success of the product is an excellent team. We believe that an outstanding entrepreneur needs to have ambition, a clear goal, and rapid execution. And Anna is undoubtedly the best choice for developing stablecoin products. As the co-founder of Perena, Anna previously served as the stablecoin lead at Solana, helping to double the issuance volume of Solana's stablecoins to $3.6 billion, while also driving the native issuance of multiple non-USD stablecoins. Her industry experience and keen insights have earned her the recognition of heavyweight supporters such as Solana co-founders Anatoly Yakovenko and Raj Gokal. We believe that under her leadership, the Perena team will be able to drive continuous innovation in the stablecoin infrastructure and lead the future development of the industry.
In Conclusion...
After Trump takes office, the regulatory environment in the US will become clearer, and traditional financial giants (such as Goldman Sachs) will also enter the market. The stablecoin market may double to $400 billion by 2025.
This not only proves the huge potential of the market, but also makes us more confident in Perena's future.
We firmly believe that 2025 will be a year of stablecoin brilliance, and also a new year for Perena to set sail and lead the trend.
About Perena
Perena aims to systematically build the key infrastructure for the development of stablecoins, helping stablecoins move from crypto innovation to mainstream financial track. The team's mission is to make stablecoins more usable, more liquid, and create more returns for large-scale adoption!
Join Perena
Click the link to learn more about the job details
About ABCDE
ABCDE is a VC focused on leading investments in top Crypto Builders, co-founded by Huobi Cofounder Du Jun and former Internet and Crypto entrepreneur BMAN, who have been in the Crypto industry for over 10 years. The co-founders of ABCDE have built companies with billions of dollars in market value from scratch in the Crypto industry. Because we are entrepreneurs, we understand entrepreneurs better. We have built an end-to-end ecosystem for ABCDE's Builders, including a listed company (1611.HK), an exchange (Huobi), a SAAS company (ChainUP), media (CoinTime.com), and a developer platform (BeWater.xyz).
