# Yield Strategies

**Perena’s yield strategy** diversifies across uncorrelated, high-quality sources of real yield. The allocation is actively managed and rebalanced based on market conditions, risk parameters, and available liquidity.

The following table summarizes the allocation across USD\* . Allocation is subjected to changes to maintain optimal performance and capital safety.

| Strategy                  | Allocation Target | Expected APY | Description                     |
| ------------------------- | ----------------- | ------------ | ------------------------------- |
| Delta-Neutral Strategies  | 50 – 70 %         | 12 – 20 %    | Market-neutral returns          |
| Secured Lending Positions | 10– 20 %          | 8 – 15 %     | Collateralized short-term loans |
| Stablecoins               | 5 – 10 %          | 0 – 6 %      | Liquidity and redemption layer  |

USD\* is designed to deploy different strategy categories: USDC reserves, tokenized T-bills, DeFi lending, delta-neutral strategies, structured credit, private credit, and quantitative strategies. Not all categories are active at any given time. \
\
Current allocations are visible on the live dashboard:[ https://app.perena.org/dashboard](https://app.perena.org/dashboard)

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Historical yield target: >10 % APY (net of fees).&#x20;

Figures shown are indicative and may evolve as new vaults and strategies are onboarded.&#x20;

* Holders **do not stake or claim distributions**; yield accrues automatically in the token’s price.
* All holders receive the **same APY** with no strategy selection or customization.