What is Perena?
Perena is a decentralized financial protocol on Solana building a new kind of on-chain stablebank. Its main product is USD STAR, a yield-bearing stablecoin designed for saving, transacting, and earning on-chain. USD* is fully collateralized and automatically grows in value through multiple real-yield sources. It is a simple way for users to hold a stablecoin while benefiting from yield generated by carefully managed financial strategies.
What is USD STAR (USD*)?
USD STAR (USD)* is Perena’s yield-bearing stablecoin. This is what Perena swaps your deposited USDC into. Unlike a regular stablecoin that simply holds its value, USD* is designed to accrue value over time from the yield earned through the platform.
The yield comes from diversified sources such as:
- Delta-neutral strategies across assets like BTC, ETH, and SOL
- Secured borrow-lend positions using on-chain stablecoins
- Real-world assets, including products such as OnRe’s reinsurance fund
- Returns from tokenized assets and stablecoin lending
This yield is automatically compounded in USD*, so users do not need to claim rewards manually.
For users new to applications such as Perena, answering the quiz from the homepage provides a possible vault or strategy to use.
Invest
After understanding what Perena offers, you can start using the app. Select from any of the vaults after considering the asset involved, what the strategy is about, what backs it, and the lockup period involved. Some vaults permit immediate withdrawals, while there are cooldown periods for others.
Deposit funds into the selected vault and wait. Earning on deposited assets takes time, and the smaller the amount in a portfolio, the longer it takes to see a tangible increase in the value added to the capital.
Portfolio
All assets in any of the Perena vaults are displayed here for easy access. From this page, a depositor may add more funds to the vault by depositing more, or they may withdraw their tokens.
Swap
Perena provides a quick swap page where tokens can be exchanged for the type supported in a vault. A user can also use this to swap their Perena stablecoins for other tokens on-chain.
Using the Perena Seeker Dapp
Perena aims to become a full on-chain stablebank. This means building financial products around stablecoins that allow users to save and earn rewards should also be available on mobile phones. Since the goal is to make real yield more accessible across both crypto and traditional finance, Perena built a Seeker application.
To get started, select from any of the available options in the Invest section as seen in the Web version above.
After clicking “Deposit”, input the amount that to be deposited, then confirm the transaction. Once the transaction is approved from the wallet on Seeker, navigate to the Portfolio section periodically to see the amount accruing to the initial capital.
The Perena application works well as a mobile app should, and since all the features on the web app are also present in the mobile version, all Seeker owners will find this easier to use.
Platforms
Perena is available on both the web and the Seeker Dapp Store. Solana users can access the web version with the URL above. Those with a Solana Seeker device can search for “Perena” on the Dapp Store to install the application.
Conclusion
Perena is creating a yield-bearing digital dollar and stablebanking experience on Solana. With USD*, users can hold a fully collateralized digital dollar that automatically earns real yield, and Perena also offers a simple path to save and invest on-chain
