Author: Mohamed Allam, Messari Protocol Analyst; Compiled by: 0xjs@金财经

Stablecoins are very important in the cryptocurrency field-in fact, they are the backbone of DeFi-but the infrastructure that supports them Woolen cloth? It's a bit messy.

While stablecoins are a powerful tool, especially for people in developing countries, as they allow easy cross-border remittances, the market is fragmented and inefficient.

Perena is stepping in to change that, building infrastructure on Solana with the goal of unifying and optimizing the stablecoin ecosystem.

Unified Liquidity:

Technical Description: Perena’s Numéraire AMM consolidates liquidity from major stablecoins (e.g. USDC, USDT, PYUSD) into a central seed pool. The pool is tokenized into USD*, which will appreciate in value as fees increase. Growth pools extend this liquidity by pairing USD* with new stablecoins, ensuring liquidity concentration across the market.

To put it simply: Perena will not set up a separate fund pool for each stablecoin, but will create a large stablecoin pool to make transactions between them easier and cheaper. For new stablecoin projects, it’s like joining an already bustling market rather than starting from scratch.

Growth available to issuers:

Technical description: Growth pools allow stablecoin issuers to pair their assets with USD* instead of traditional assets such as USDC. This approach reduces operational complexity and capital requirements while providing instant access to the liquidity of the larger stablecoin ecosystem.

To put it simply: Perena makes it incredibly easy for creators of new stablecoins to get in on the stablecoin game by providing instant access to a pool of funds, without having to invest a lot of cash up front.

Capital Efficiency:

Technical Description: Numéraire uses bounded liquidity and intelligent exchange routing to maximize capital utilization. Centralized liquidity enables trading closer to the stablecoin’s peg, reducing slippage and increasing fee generation for liquidity providers.

Simply put: Perena makes every dollar go further. Trading is cheaper and smoother for users, and those providing liquidity can earn better returns without having to constantly adjust their investments.

Currently, Perena is still in its early stages, but the cryptocurrency space is developing rapidly. Such infrastructure will be critical as stablecoin adoption continues to grow. They are building on top of Solana, leveraging its speed and low cost – perfect for the stablecoin market. The growth at Perena is exciting, especially with the rumored funding announcement imminent!

Source: DefiLlama (Stablecoin Market Cap Grows to Highs of Nearly $200 Billion)