# Perena

## English

- [Welcome to Perena](https://perena.gitbook.io/perena/welcome-to-perena.md): Overview
- [Glossary](https://perena.gitbook.io/perena/glossary.md)
- [Security](https://perena.gitbook.io/perena/security.md)
- [Use Perena](https://perena.gitbook.io/perena/use-perena.md)
- [Portfolio](https://perena.gitbook.io/perena/use-perena/portfolio.md)
- [Convert](https://perena.gitbook.io/perena/use-perena/convert.md)
- [Invest](https://perena.gitbook.io/perena/use-perena/invest.md)
- [Rewards](https://perena.gitbook.io/perena/use-perena/rewards.md)
- [Dashboard](https://perena.gitbook.io/perena/use-perena/dashboard.md)
- [Perena Purple](https://perena.gitbook.io/perena/perena-purple.md): The Perena VIP program for Perena's most committed depositors
- [Regional Availability](https://perena.gitbook.io/perena/regional-availability.md)
- [Invest with Perena](https://perena.gitbook.io/perena/products/invest-with-perena.md): Earn yield through curated vault strategies using stablecoins
- [USD STAR (USD\*)](https://perena.gitbook.io/perena/products/usd-star-usd.md): Perena's Flagship Product. Earn ~10% APY with USD\*
- [How USD\* works](https://perena.gitbook.io/perena/products/usd-star-usd/how-usd-works.md)
- [Investment Policy](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy.md)
- [Strategic Allocation](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/strategic-allocation.md)
- [Liquidity Waterfall](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/liquidity-waterfall.md)
- [Concentration Limits](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/concentration-limits.md)
- [How Strategies Get Approved](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/how-strategies-get-approved.md)
- [Risk Controls](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/risk-controls.md)
- [What We Don’t Currently Invest In](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/what-we-dont-currently-invest-in.md)
- [Review Cadence](https://perena.gitbook.io/perena/products/usd-star-usd/investment-policy/review-cadence.md)
- [Yield Strategies](https://perena.gitbook.io/perena/products/usd-star-usd/yield-strategies.md)
- [Delta Neutral Strategy](https://perena.gitbook.io/perena/products/usd-star-usd/yield-strategies/delta-neutral-strategy.md)
- [Secured Lending Positions](https://perena.gitbook.io/perena/products/usd-star-usd/yield-strategies/secured-lending-positions.md)
- [Stablecoins](https://perena.gitbook.io/perena/products/usd-star-usd/yield-strategies/stablecoins.md)
- [Counterparty Overview](https://perena.gitbook.io/perena/products/usd-star-usd/yield-strategies/counterparty-overview.md)
- [Risk management framework](https://perena.gitbook.io/perena/products/usd-star-usd/risk-management-framework.md)
- [Stablecoin landscape](https://perena.gitbook.io/perena/products/usd-star-usd/stablecoin-landscape.md)
- [Build with USD\*](https://perena.gitbook.io/perena/products/usd-star-usd/build-with-usd.md): Technical references for integrating USD\* and Perena Vault V2
- [Upgrade Legacy USD\* (Historical)](https://perena.gitbook.io/perena/products/usd-star-usd/upgrade-legacy-usd-historical.md): Historical migration guide for holders of the legacy Seed Pool LP token
- [Upgrade Walkthrough](https://perena.gitbook.io/perena/products/usd-star-usd/upgrade-legacy-usd-historical/upgrade-walkthrough.md): Upgrade legacy LP tokens to USD\*
- [USD\* Protected](https://perena.gitbook.io/perena/products/usd-protected.md): USD\*-P, the principal-protected version of USD\* earning a fixed 5%
- [USD\* Junior](https://perena.gitbook.io/perena/products/usd-junior.md): USD\*-J — The Amplified Tranche of USD\*
- [Yield Bearing Risk Assets (BTC\*, SOL\*, etc.)](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets.md): Yield bearing risk assets allow users to keep price exposure tied to a given risk asset, while deriving yield from USD\* underneath.
- [How it works](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/how-it-works.md)
- [Strategies](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/strategies.md): The shared framework behind Perena strategy tokens.
- [Yield Carry](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/yield-carry.md): Keep risk-asset exposure while accessing managed delta-neutral carry yield.
- [Redemptions](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/redemptions.md): How SOL\* redemptions settle when you sell.
- [Fees](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/fees.md): Protocol, network, and execution costs for SOL\*.
- [Perena Smart Borrow](https://perena.gitbook.io/perena/products/perena-smart-borrow.md): Borrow at negative interest rates against SOL or cbBTC.
- [How Perena Smart Borrow works](https://perena.gitbook.io/perena/products/perena-smart-borrow/how-perena-smart-borrow-works.md): Turn SOL or cbBTC into an always-on, onchain USDC credit line.
- [Automation and risk controls](https://perena.gitbook.io/perena/products/perena-smart-borrow/automation-and-risk-controls.md): How Perena Smart Borrow manages LTV, vault routing, and operator permissions.
- [Security and audit](https://perena.gitbook.io/perena/products/perena-smart-borrow/security-and-audit.md): Audit coverage, structural safeguards, and upgrade controls for Perena Smart Borrow.
- [Neutral Trade Drift Vault](https://perena.gitbook.io/perena/products/neutral-trade-drift-vault.md)
- [How to Use Guide](https://perena.gitbook.io/perena/products/how-to-use-guide.md): Get started with Perena Earn in just a few steps
- [Vault FAQ](https://perena.gitbook.io/perena/products/vault-faq.md)
- [Coming soon - USD Prime (USD')](https://perena.gitbook.io/perena/products/coming-soon-usd-prime-usd.md): Real world money built to be compliant
- [FAQ](https://perena.gitbook.io/perena/products/faq.md): Frequently Asked Questions
- [USD\* Technical Design](https://perena.gitbook.io/perena/protocol/usd-technical-design.md)
- [Conceptual Overview](https://perena.gitbook.io/perena/protocol/usd-technical-design/conceptual-overview.md)
- [Core Program Architecture](https://perena.gitbook.io/perena/protocol/usd-technical-design/core-program-architecture.md)
- [Operation Flows](https://perena.gitbook.io/perena/protocol/usd-technical-design/core-program-architecture/operation-flows.md): The program operates through two distinct instruction flows: administrative setup and configuration operations, and user-facing mint/burn operations.
- [Administrative Operations](https://perena.gitbook.io/perena/protocol/usd-technical-design/core-program-architecture/administrative-operations.md)
- [User Operation](https://perena.gitbook.io/perena/protocol/usd-technical-design/core-program-architecture/user-operation.md)
- [Vault Types and Yield Strategies](https://perena.gitbook.io/perena/protocol/usd-technical-design/vault-types-and-yield-strategies.md)
- [Off-chain Services](https://perena.gitbook.io/perena/protocol/usd-technical-design/off-chain-services.md)
- [Development and Implementation](https://perena.gitbook.io/perena/protocol/usd-technical-design/development-and-implementation.md)
- [Legacy USD\* Technical Design](https://perena.gitbook.io/perena/protocol/legacy-usd-technical-design.md): Legacy duplicate retained for historical reference
- [Numéraire V1](https://perena.gitbook.io/perena/protocol/numeraire-v1.md): Contract: NUMERUNsFCP3kuNmWZuXtm1AaQCPj9uw6Guv2Ekoi5P
- [AMM Technical Design](https://perena.gitbook.io/perena/protocol/numeraire-v1/amm-technical-design.md)
- [Legacy Vault Adapter Technical Design](https://perena.gitbook.io/perena/protocol/legacy-vault-adapter-technical-design.md): Legacy design retained for historical reference; superseded by Vault V2
- [Perena Vault V2](https://perena.gitbook.io/perena/protocol/perena-vault-v2.md): High-level overview of Perena's structured vault framework
- [For Partners](https://perena.gitbook.io/perena/protocol/perena-vault-v2/for-partners.md)
- [For Users](https://perena.gitbook.io/perena/protocol/perena-vault-v2/for-users.md)
- [For Curators](https://perena.gitbook.io/perena/protocol/perena-vault-v2/for-curators.md)
- [Security](https://perena.gitbook.io/perena/protocol/perena-vault-v2/security.md)
- [Vault V2 Whitepaper](https://perena.gitbook.io/perena/protocol/perena-vault-v2/vault-v2-whitepaper.md)
- [Vaults V2 Spec](https://perena.gitbook.io/perena/protocol/perena-vault-v2/vaults-v2-spec.md): Normative behavior, controls, and configuration for Perena Vault V2
- [RWA (Real World Asset) Repository](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository.md): Discover, compare, and list tokenized real-world assets on Perena
- [Discover RWAs on Perena](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository/discover-rwas-on-perena.md): Compare tokenized fixed-income products and understand access before you deposit
- [NEST](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository/discover-rwas-on-perena/nest.md): RWA Yield on Solana, Powered by Plume Network
- [GLOW](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository/discover-rwas-on-perena/glow.md): Quant-Grade USDT Yield, Powered by Concrete.xyz
- [List an RWA on Perena](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository/list-an-rwa-on-perena.md): Distribution, listing requirements, review criteria, and integration flow for issuers
- [Endpoints](https://perena.gitbook.io/perena/protocol/rwa-real-world-asset-repository/list-an-rwa-on-perena/endpoints.md)
- [USD\*](https://perena.gitbook.io/perena/api-reference/usd.md)
- [Get Price](https://perena.gitbook.io/perena/api-reference/usd/get-price.md)
- [Get APY](https://perena.gitbook.io/perena/api-reference/usd/get-apy.md)
- [Get Earnings](https://perena.gitbook.io/perena/api-reference/usd/get-earnings.md)
- [Get Mint Info](https://perena.gitbook.io/perena/api-reference/usd/get-mint-info.md)
- [Perena In The News](https://perena.gitbook.io/perena/community-highlight/perena-in-the-news.md)
- [Perena In The News (Full List)](https://perena.gitbook.io/perena/community-highlight/perena-in-the-news-full-list.md)
- [Stablecoin Repository](https://perena.gitbook.io/perena/community-highlight/stablecoin-repository.md)
- [中文内容库](https://perena.gitbook.io/perena/community-highlight/zhong-wen-nei-rong-ku.md)
- [Risks](https://perena.gitbook.io/perena/legal/risks.md): Last Updated: December 17, 2024
- [Terms of Use](https://perena.gitbook.io/perena/legal/terms-of-use.md): Last Updated: April 29, 2026
- [Privacy Notice](https://perena.gitbook.io/perena/legal/privacy-notice.md): Last Updated: April 29, 2026
- [Brand Guide & Design Assets](https://perena.gitbook.io/perena/additional-info/brand-guide-and-design-assets.md): Welcome to the perena brand guidelines, you can find everything you need to collaborate with us :)
- [Money Reimagined](https://perena.gitbook.io/perena/additional-info/money-reimagined.md): A manifesto