Perena14.33%
15.65%
15.63%
$1.6M
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Strategy overview
Deposit USD*-J into a Perena managed strategy. The vault deploys the capital, manages the position, and compounds its returns.
- How it works:
- You deposit a single token and the vault leverages it — borrowing against your deposit and reinvesting — to amplify the underlying yield, auto-managing the position so you don't have to.
- What you hold:
- Vault shares representing your deposited USD*-J and your share of the managed strategy.
- Who runs it:
- Perena — live since 2024 · no public audit · no known incidents
Position details
- APY Now
- 14.33%
- 7D Avg
- 15.65%
- 30D Avg
- 15.63%
- TVL
- $1.6M
- Tokens
USDC- Lock Period
- 7d
Moderate risk · Grade C
48/100
- The strategy is more complex than plain lending — an automated looping vault adds moving parts that can each go wrong.
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- A shorter operating history means less proof it holds up — live for ~22 months.
Strategy
- Strategy type60
Looped vault
- Leverage60
Leverage figure missing on a leveraged product.
- Yield source85
Yield comes from a leveraged position.
- Pool usage20
Utilization unknown for a pool-based product.
- Pool size34
~$1.6M pool.
- Lock-up & yield stability10
Locked 7d; 30d APR volatility 2.0pp.
What can go wrong
- Leverage amplifies losses as well as gains, and an adverse move can put the position near liquidation.
- If the looped asset depegs, the vault's effective risk rises sharply.
- Returns depend on the spread between the earned yield and the borrowing cost, which can compress.
The assets
What your deposit is held in, and how steady its value is.
- Backing model10
USDC: fiat-backed.
- Peg history5
USDC: worst recorded peg deviation informs this score (12 recorded event(s)).
- Issuer size0
USDC: ~$73.8B market cap.
- Exit liquidity0
USDC: ~$404.4M DEX depth.
- Token age0
USDC: live since 2018.
- Freeze authority35
USDC: issuer can freeze token accounts.
About USDC
Each asset in this position — what it is, how reliable it is, and any past depegs.
USDCUSD CoinStablecoin
Low RiskBy Circle. Backed 1:1 by cash and short-term US Treasuries held in regulated reserves. · Live since 2018
- ·Worst deviation from $1 peg: 0.08% (tracked window).
- ·Held its peg 100.0% of the time.
Peg adherence (7d): 100.0%Worst deviation (7d): 0.034%DEX liquidity: $404.4M
Audited: Yes — Deloitte (monthly attestations)
Past depeg events
EPjF…Dt1v
Token notes & warnings
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Mintable — The authority's owner has the ability to mint more tokens
The team and protocol behind this, and their track record.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record49
Live for ~22 months.
- Price feeds · no data55
Oracle setup unknown.
- Scale70
$633k TVL — limited adoption so far.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $25k.
- Audits60
No public audit on record.
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds