> For the complete documentation index, see [llms.txt](https://perena.gitbook.io/perena/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://perena.gitbook.io/perena/products/faq.md).

# FAQ

## Frequently asked questions

***

#### 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. What backs USD\* and where does the yield come from?

USD\* is backed by a portfolio of yield-generating positions held across seven categories — a USDC buffer, tokenized treasuries, on-chain lending, delta-neutral positions, structured credit, private credit and quantitative strategies. Allocation runs against a [published policy](/perena/products/usd-star-usd/investment-policy.md) with targets, ranges, a quarterly review, and a 15% look-through limit on exposure to any single protocol. Every position currently is visible on our [transparency page](https://app.perena.org/dashboard).

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**](https://app.perena.org/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](/perena/security.md).
* **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**](https://app.perena.org/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](https://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.

***

#### 9. Who is behind Perena?

Perena is founded by [Anna Yuan](https://www.linkedin.com/in/gizmogiz/), 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.

***

#### 10. Where is Perena deployed?

Perena is live on **Solana**, leveraging its high-speed, low-cost infrastructure for composable stablecoin strategies.

***

#### 11. 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.

***

### 12. How do I get help if I need it?

Our support team is available on our [Discord](https://discord.com/invite/perenaorg).

***

> *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.*