FAQ
Frequently Asked Questions
📘 Frequently Asked Questions (FAQ)
1. What is USD STAR (USD*)?
USD* is Perena’s flagship product — a yield-bearing digital dollar. When you hold USD*, your funds are automatically allocated into real-world strategies that generate yield. The token value grows over time through auto-compounding — no need to stake or lock.
2. Where does the yield come from?
USD* generates yield from real, sustainable sources such as:
Delta-neutral trading strategies (e.g. funding rate capture on centralized and decentralized exchanges)
Secured on-chain lending (e.g. supplying stablecoins to overcollateralized borrowers)
Tokenized, liquid stablecoins (e.g. USDC and USDT held or deployed in safe, low-risk protocols)
All yield is auto-compounded into the price of USD*, so your balance grows over time without needing to stake or claim rewards.
3. Where are the proof of reserves?
You can view real-time reserve data on our Dashboard, which transparently shows:
Total USD* supply
Strategy pool breakdown (delta-neutral, lending, stable reserves)
Reserve asset balances
Platform allocation and exposures (e.g. Binance, Hyperliquid, Lighter, Drift)
We are actively working toward enhanced third-party verification to further increase transparency.
4. How safe is it to keep my funds here?
Perena is built on the following safety pillars:
Full collateralization: USD* is always backed 1:1 by underlying yield-generating assets.
Diversification: Strategies are diversified across venues and risk profiles to reduce single points of failure.
Smart contract audits: We work with reputable auditors to secure our contracts. View audit here.
Conservative risk management: We avoid speculative yield farming and prioritize capital preservation with stable, delta-neutral, or overcollateralized strategies.
As with any DeFi protocol, there are inherent risks (e.g. smart contract vulnerabilities, counterparty risk), so always DYOR and use appropriate sizing.
5. Can I redeem USD* at any time?
Yes. You can redeem USD* anytime via the Portfolio tab. There is a small redemption fee (0.05%) to account for slippage and execution.
6. Is USD* a stablecoin?
USD* is not pegged to $1 like USDC or USDT. Instead, it is a yield-integrated token whose value steadily grows as underlying yield accrues. Think of it more like a crypto-native version of a high-yield savings instrument or money market fund.
7. Which tokens can I use to mint USD*?
Currently supported:
USDC (more options like USDT, USDG, CASH coming soon)
You can mint directly on app.perena.org
8. How is APY calculated?
APY is calculated based on the trailing 7-day growth in Net Asset Value (NAV) of USD*. It reflects how much your USD* balance would grow in a year, assuming similar performance continues.
7. Who is behind Perena?
Perena is founded by Anna Yuan , previously head of stablecoins at Solana Foundation. Perena is built by a distributed team of engineers, designers, and financial strategists with deep experience across Solana DeFi, stablecoins, and capital markets. We're on a mission to make crypto-native yield simple, accessible, and sustainable.
8. Where is Perena deployed?
Perena is live on Solana, leveraging its high-speed, low-cost infrastructure for composable stablecoin strategies.
9. Is Perena open source?
Yes, parts of our infrastructure are open source. More components (including GitHub links, Gitbook docs, and audits) will be made public progressively.
10. How do I get help if I need it?
Our support team is available on our Discord.
This documentation is provided for informational purposes only and should not be considered financial advice. Users should conduct their own research and risk assessment before interacting with the protocol.
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