What is the Base chain stablecoin ANZ?
From a decline to a 4-fold increase, is ANZ an Alpha opportunity?Author: Shaofaye123, Foresight News
The stablecoin sector has always attracted attention. Usual surged from 0.25 U to 0.8 U in pre-market trading, the Trump family's crypto project World Liberty chose to invest in ENA, and Binance is betting on the Solana chain's stablecoin infrastructure Perena, while the Base chain's stablecoin seems to be lukewarm. This article takes you through ANZ, from its initial drop to a 4x increase. Is it a new Alpha opportunity or just another fleeting project?
Starting from the Wealth Effect of FJO
In mid-November, the market warmed up, and on-chain liquidity gradually overflowed, with funds beginning to seek speculative targets. The overflow effect of the on-chain new issuance platform Fjord was particularly evident, especially in hot sectors such as: AI Agent, whose project release odds are extremely high, with a maximum increase of up to 33 times. Projects often sell out within minutes, and there were even scientists who booked all available quotas. With the wealth effect from the platform's project releases, the opening of staking and potential airdrop benefits also caused its platform token FJO to rise from 0.5 U to 1 U.
As a long-term speculative hotspot, the stablecoin sector saw significant attention on December 2, when Fjord launched the Base chain's (USDz) stablecoin project ------ Anzen, which was sold out immediately upon launch. However, it plummeted after launch, dropping from 0.01 U to 0.005 U. Is it another Rug project or an Alpha opportunity?
Background Information on Anzen Finance
Anzen is the issuer of USDz, situated in the RWA sector, currently on 4 chains, and plans to expand to more chains by 2025. USDz is set to launch on platforms such as Movement, Berachain, Plume, Mantra, Monad, and Initia. Users holding USDz can earn sustainable RWA returns, similar to projects like Usual, with its underlying assets being government bond yields. Users can stake USDz tokens to receive sUSDz, giving DeFi users the opportunity to earn sustainable returns and diversify their portfolios, currently offering an annual interest rate of 14.8%.
Anzen's Secured Private Credit Investment Portfolio
ANZ adopts a ve model, which will be used to manage and develop the Anzen protocol and ecosystem, including: liquidity incentives, ANZ holder functions, basic rewards, protocol fees, and voting pool incentives. The public sale of ANZ launched on December 2 through the FJO Launchpad at a fixed price of 0.006 U, with a total token supply of 10,000,000,000 tokens, of which 6.7% is allocated to the Launchpad, 5% to community airdrops, and 2.7% to ecological rewards. Currently, its circulation is approximately 11.6%.
Comprehensive Strength
According to The Block, Anzen Finance has currently secured $4 million in seed funding to support the development of its RWA-backed stablecoin. Companies such as Mechanism Capital, Circle Ventures, Frax, Arca, Infinity Ventures, Cherubic Ventures, Palm Drive Ventures, M31 Capital, and Kraynos Capital participated in this round of financing.
The Anzen Finance team is from Taiwan and consists of a credit investment team with over ten years of joint lending experience. Since 2018, the team has been researching mechanisms for bringing credit assets on-chain. Their underwriting and custody partner is Percent, which has achieved a trading volume of $1.6 billion over the past seven years, with an annual percentage yield (APY) of 16% and a default rate of 2%.
The ANZ project team seems to have no shortage of collaborative resources, and they maintain close relationships with major KOLs and NFT communities. Doodles, PudgyPenguins, and others have been seen in their activities, indicating that the project team is well-versed in operations. On December 16, they even changed their avatar to a fat penguin.
Additionally, as observed by the author, the ANZ project has seen small amounts of funds continuously added to the pool since its launch, and smart money has been consistently buying in, with its token ANZ price rising 4 times from the bottom.
The total value locked (TVL) in the entire stablecoin sector has grown from 130 billion at the beginning of the year to 203 billion. With Trump taking office and the compliance process accelerating, the stablecoin sector still has significant development potential. Currently, the Base chain's stablecoin is still dominated by USDC (with a TVL of 3.3 billion), while the third-ranked stablecoin DOLA has historically experienced multiple decouplings of over 2%. Since its launch, USDz has surpassed DOLA to become the second-largest stablecoin on Base, but both its TVL (90 million) and ANZ's current market value (20 million) remain at relatively low levels, indicating high participation risks.
