Anzen is a stablecoin project that allows users to stake various tokens and receive the platform’s native stablecoin – USDz. The project aims to provide a secure and transparent stablecoin, empowering investors to generate returns through its DeFi ecosystem. Currently, Anzen’s stablecoin operates across five networks: Base, Ethereum, Blast, Manta, and Arbitrum.
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Anzen’s Operational Model
Anzen’s core functionality revolves around users staking assets (USDC, USDT, or USDB) to mint USDz. This stablecoin can then be utilized within various DeFi protocols across the supported networks. These DeFi applications include:
- Providing liquidity on DEXs like Aerodrome and Uniswap.
- Participating in lending and borrowing on platforms like Extra Finance.
Furthermore, users can stake USDz to acquire sUSDz at a 1:1 ratio. Similar to other stablecoin projects, sUSDz mirrors the utility of USDz, enabling participation in DeFi activities. Even without engaging in DeFi, USDz holders can potentially benefit from the yield generated by the assets backing USDz.
According to the project team, USDz is collateralized by US Private Credit. This offers the potential for high returns for sUSDz holders, estimated between 9% and 15% annually.
However, this collateralization method carries higher risk compared to other asset types. Private Credit involves lending to businesses by financial institutions without traditional bank or bond issuance. This inherently increases risk as these debts lack government backing. Consequently, USDz faces a greater risk of significant depegging compared to other stablecoins in the event of a black swan event.
Anzen’s Core Functionalities
Currently, Anzen’s platform focuses solely on USDz-related activities, which include:
Buy
The Buy function allows users to stake assets and receive USDz at a 1:1 ratio. Users on Ethereum, Arbitrum, and Base can use USDC for this exchange. On Blast, users stake USDB, while USDT is used on Manta Network. Users should monitor the available USDz supply on Anzen, as staking is impossible when the supply reaches zero. At the time of writing, Arbitrum is the only network with insufficient USDz for user minting.
Swap
This feature facilitates cross-chain asset transfers, extending beyond Anzen’s supported blockchains. Anzen integrates Li.Fi’s swapping functionality, potentially allowing users to participate in Li.Fi’s bridge airdrop opportunities.
Stake
As Anzen’s primary function, staking allows users to lock USDz and receive sUSDz at a 1:1 ratio. sUSDz holders can participate in DeFi or hold to earn yield from the underlying Private Credit assets. At the time of writing, the APY for sUSDz is 13.7%. Unstaking sUSDz for USDz requires a 7-day waiting period to mitigate supply shocks and potential depegging risks. Staking also rewards users with z-points, a potential criterion for future Anzen airdrops.
Vault
The Vault allows users to purchase USDz Bonds, essentially acquiring USDz at a discounted price. Here’s how it works:
- Discounted Purchase: Investors buy USDz Bonds below their face value. For example, if USDz is worth $1, bonds might be purchased at $0.95 or lower.
- Fixed Maturity: Bonds have a specific maturity date. Upon maturity, holders receive USDz equivalent to the bond’s face value, profiting from the price difference.
Anzen’s initial offering illustrates this: a 90-day bond priced at $0.98 allows a $20 profit on a $1,000 investment after maturity.
The Vault functions as a fundraising mechanism for the project, akin to corporate bond issuance. It also enhances USDz stability by locking up user funds for a defined period, reducing sell-off pressure.
Understanding the ANZ Token
ANZ Token Key Metrics
- Token Name: Anzen Finance
- Ticker: ANZ
- Total Supply: 10,000,000,000 ANZ
- Initial Circulating Supply: 500,000,000 ANZ
ANZ Token Allocation
- Ecosystem: 42.7%
- Investor and Advisor: 20.6%
- Foundation: 20%
- Launchpad: 6.7%
- Airdrop: 5%
- Core Contributor: 5%
ANZ Token Sale
Starship will launch Anzen as its fourth project. The ANZ sale begins on December 2nd, 2024, at 17:00 (GMT+7), utilizing a novel Fan Card model. Users purchase Fan Cards with C98 tokens (Viction Network) and receive ANZ in return.
Key Sale Information:
- Total Raise: $1,000,000
- Format: FCFS (First-Come, First-Served) for Starship NFT holders
- Price: $0.006/ANZ (equivalent to $50/Fan Card)
Sale Period: December 2nd, 2024 (17:00 GMT+7) – December 9th, 2024 (16:00 GMT+7)
Purchase Limits: Minimum 1 Fan Card, Maximum 10 Fan Cards
Distribution: 100% at TGE.
Anzen’s Team, Investors, and Partners
Project Team
Anzen’s team comprises experienced professionals in finance and blockchain:
- Ben Shyong: Founder of Anzen, Co-founder of Evernew Capital and Perseverance Capital Management.
- Justin Wu: CMO at Anzen, formerly with Web3 projects like Inco and Mercurity Fintech Holding.
Investors and Partners
Anzen secured $4 million in seed funding on May 28th, 2024, from prominent investors including Mechanism Capital, Circle Ventures, and IVC Ventures. Strategic partners include Zellic, OneID, and Persona.
Similar Projects
- Usual: An Ethereum-based stablecoin project allowing users to stake assets for its native stablecoin, USD0.
- Raft: A decentralized lending and borrowing protocol on Ethereum, enabling collateralized loans and stablecoin (R) borrowing.
