Welcome to Perena

What is Perena?

Perena is building the foundational infrastructure for the future of digital money, starting with solving critical challenges in the $170B+ stablecoin market. While stablecoins have revolutionized digital payments and become a cornerstone of DeFi, the market remains fragmented with siloed liquidity pools, capital inefficient, and flooded with complex user experiences.

Our first product, Numéraire, is an multi-asset stableswap. It maximizes capital efficiency through bounded liquidity and smart swap routing, while protecting trades with built-in MEV resistance. For traders, this means better exchange rates and lower cost. For liquidity providers, it offers enhanced yields through concentrated liquidity. For stablecoin issuers, it dramatically simplifies the process of launching new stablecoins.

Building on Solana's high-performance blockchain gives Numéraire unprecedented advantages in speed and cost-efficiency. With a seasoned team from the Solana Foundation and Jump Trading, we're positioned to deliver on our vision of making stablecoins more accessible, liquid and rewarding for everyone.

Next, we're expanding our infrastructure stack with a CDP system that allows users to leverage their stableswap LP tokens, SOL LSTs and Solana's BTC assets. By hypothecating stableswaps into liquid synthetic dollars, Perena enhances the utility of Numéraire and its assets. This implementation further cements our role in building infrastructure that's borderless, efficient, and accessible to all.

Stablecoin Market Challenges

As the proliferation of fiat-backed and synthetic money continues, these distinct forms of currency will inevitably coexist, each serving distinct purposes. Despite their potential, these assets face challenges that hinder their optimal growth.

One significant problem is liquidity fragmentation across various markets. With multiple stablecoins in circulation — USDT, USDC, PYUSD, and others — liquidity becomes scattered, reducing efficiency in trading and market operations. Another issue is the high capital requirements inherent in many automated market makers (AMMs), which leads to a dominance of certain stablecoins — such as USDC — and reinforces centralisation risks.

Therefore, the increased issuance has fragmented liquidity across multiple pools and chains, creating inefficiencies in market making and increased competition for capital. Without proper infrastructure to facilitate the liquidity flow, we risk fragmented growth where even simple transactions become costly.

To solve these challenges, we founded Perena. We build critical infrastructure to drive the sustainable evolution of stablecoins - enabling greater decentralization, market diversity, and seamless liquidity across the ecosystem.