Perena wants to be the 'neutral layer' bringing liquidity to stablecoin issuers.
Solana Foundation's former stablecoin lead Anna Yuan has left the mothership to build her own startup catering to the fast-growing crypto subsector.
Perena isn't solely focused on launching another stablecoin. Instead, it's creating on-chain systems that allow the seemingly endless droves of other stablecoin newcomers to have good trading liquidity, even in nascency. "If PayPal, Robinhood and 20 other companies want to launch stablecoins on Solana, they're going to have a really hard time getting any adoption, and those stablecoins are going to be any more usable than their fiat counterparts," she said.The whole project is a bet that stablecoins will continue to grow in prominence – not only as a critical asset for traders speculating on cryptos, but as a store of value and medium of exchange, or, in other words, as money.
Perena fits into this puzzle as a place of exchange. It is setting up swap pools that allow traders of up to seven different stablecoins to readily swap between assets – much like Curve's 3pool does on Ethereum. Yuan said stablecoin holders will be able to earn extra yield by lending their assets into the pool, earning more based on their risk tolerance.
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