「EN」ABCDE : Why We Invest in Perena
Dec 14th 2024 @ Joysong_J
TLDR
- The stablecoin market is growing at rocket speed but faces challenges of centralization and fragmented liquidity.
- Perena is systematically building the critical market infrastructure needed as stablecoins evolve from crypto innovation to mainstream financial rails.
- Backed by a strong team, Perena is dedicated to build a robust stablecoin infra that makes stablecoins more accessible, liquid, and rewarding for mass adoption.
Potentials in Stablecoin Market
2024 is the year for stablecoin. According to DefiLlama, the market cap of stablecoin has surpassed $200 billion with USDT soars to a record of $139 billion, and USDC, the second-largest stablecoin issued by Circle, reached $41 billion in market cap. We think there are mainly 2 factors behind the growth:
- Institutional usage of stablecoin, including massive remittance and payment adoption
- Stablecoins as a yield-generating financial vertical
Stablecoin Wars: New Money is Booming
The boom of stablecoin has been in the space for a while. From BUSD (Binance USD), PYUSD (PayPal USD) to the most recent RLUSD (yield bearing stablecoin by Liquidity), we see a strong trend of institutions launching their own digital dollars. Stablecoins are becoming the “New money of the digital world,” offering unparalleled liquidity in crypto markets. Thus, we believe a stablecoin infrastructure is very much needed for enterprises to manage liquidity, risk, and integrations of the new programmable money.
“Today’s stablecoin market faces the same challenge — we have dozens of digital dollars but no unified infrastructure to make them work together efficiently. Perena is building that critical missing layer.” said by Anna, Co-founder of Perena.
Numéraire, Perena’s Début Product
Besides the market potential of stablecoin infrastructure, one of the reasons we invest in Perena is its team’s execution capability. Recently, Perena shipped out its debut product Numéraire, a multi-asset stablecoinswap with deep liquidity and yields for LPs. The platform features a multi-stablecoin liquidity pool, utilizing a liquidity provider token called USD*, which represents a share of a seed pool composed of Tether, Circle, and PayPal USD. The product offers a seamless experience for users to swap tokens, liquidity providers (LPs) to earn returns, and token issuers to launch tokens, all while reducing stablecoin issuance risks and minimizing fragmentation.
Try Now: Numéraire
The Team
A successful entrepreneur needs to possess ambition, a clear vision, and the ability to execute quickly. We unanimously agree that Anna is the best candidate for working on stablecoin-related products. Anna was previously the head of stablecoin at Solana, helping stablecoin issuance on Solana doubled to 3.6 billion and non-USD stablecoins natively launched. With years of industrial experience, Anna received support from Solana co-founders Anatoly Yakovenko, Raj Gokal as well as other noteworthy backers.
We deeply believe Anna and her team will continue driving the advancement of stablecoin infrastructure development.
In the end…
With Trump taking office, the regulatory environment in the U.S. is expected to become clearer, and traditional financial giants like Goldman Sachs are likely to enter the space. The stablecoin market could potentially double by 2025, reaching $400 billion.
This not only highlights the immense potential of the market but also strengthens our confidence in Perena’s future.
We firmly believe that 2025 will be a breakout year for stablecoins and a new chapter for Perena to set sail and lead the trend.
More About Perena
Perena is systematically building the critical market infrastructure needed as stablecoins evolve from crypto innovation to mainstream financial rails. Their mission is to make stablecoins more usable, liquid and rewarding for mass adoption.
Join Perena: https://jobs.solana.com/companies/perena/jobs/41920914-engineersssss#content
About ABCDE
ABCDE is a VC focused on leading investment in top Crypto Builders. It was co-founded by Huobi Cofounder Du Jun and former Internet and Crypto entrepreneur BMAN，who both have been in the Crypto industry for more than 10 years. The co-founders of ABCDE have built multi-billion dollar companies in the Crypto industry from the ground up, including listed companies(1611.HK), exchanges(Huobi), SAAS companies(ChainUP.com), media(CoinTime.com), and developers platforms(BeWater.xyz).
Twitter：https://twitter.com/ABCDELabs
Website：www.ABCDE.com
