Anzen Finance offers an RWA-backed stablecoin, USDz, that makes use of private credit assets as a collateral component. The platform operates across multiple chains and is enjoying solid growth, while the RWA sector is also expanding. There are several ways to earn returns from using the USDz token, including by providing liquidity on platforms such as Aerodrome, by staking on Anzen, and through fixed-return products on Anzen. Rewards include z-points that will lead to a token airdrop later this year.
Narratives are important in crypto, and Anzen Finance stands out as a DeFi platform that extends across several areas set to gain increasing mindshare. Primarily, that’s because it brings together a couple of major narratives: RWAs and stablecoins, while additionally, it operates across multiple blockchains, including Base, which itself has risen to occupy a central role in the crypto landscape.
So, let’s outline what Anzen is building, and run through how you can use the platform and its tokens to generate rewards.
Before we begin though, please note that DeFi comes with risks, including: smart contract vulnerabilities, token depegs, frontend attacks, economic design flaws, and systemic risk across DeFi and crypto. This guide is neither an endorsement nor financial advice.
What Is Anzen Finance?
Upgrading to its current version earlier this year, the Anzen Finance platform has launched a stablecoin called USDz, which is of particular interest because it’s an RWA-backed token.
Specifically, the collateral behind USDz consists mainly of private credit assets (private credit–explained in detail here by the Federal Reserve–refers to loans issued by non-bank lenders to private businesses, which can be custom-structured and are typically behind relatively high barriers to entry).
Alongside the private credit component, there are also cash and short-term equivalents, which are managed primarily by BlackRock and include US T-Bills. The backing portfolio is currently generating 9.94% APY, and Anzen takes measures to ensure full transparency around its holdings.
Anzen Finance Is Growing Fast
A look at the data indicates that Anzen has been enjoying solid early growth, with the USDz supply more than doubling since the beginning of September. This means that the platform’s TVL has now risen to above $66 million.
We can also find that USDz has become the third biggest stablecoin in the Base ecosystem, and has experienced the steepest expansion among Base stablecoins over the past month, growing by 171% (and note also that the market cap here appears not to have been fully updated to include recent gains, and so is actually higher than it appears in the table).
As mentioned, Anzen USDz is RWA-backed, and so it’s worth checking in with how the RWA sector overall is performing. It’s apparent from the figures that there’s a positive outlook for the global market, with total RWA onchain value now standing at $12.85 billion. What’s more, an enormous chunk of that figure is taken up by private credit, which alone totals $9.2 billion.
Also, those figures do not take stablecoins into account, but total stablecoin value is also on the rise, and currently stands at $171.94 billion.
How to Acquire USDz
To make the most of Anzen,…
