Gold Mining Handbook | What is the Base Chain Stablecoin ANZ?

Author: Shaofaye123, Foresight News

The stablecoin sector has been a focal point of 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. Meanwhile, the Base chain's stablecoin seems to be lukewarm. This article gives you a quick overview of ANZ, which has risen 4 times from its initial drop; 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 are even scientists who buy out all the quotas. As the wealth effect of the platform's project releases overflows, the open staking and potential airdrop benefits have also caused its platform token FJO to rise from 0.5 U to 1 U.

As a long-term speculative hotspot, the stablecoin sector attracted 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 suffered a sharp decline after launch, plummeting 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, positioned in the RWA sector, currently operating on 4 chains, and plans to expand to more chains by 2025. USDz plans 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 the underlying being government bond yields. Users can stake USDz tokens to receive s USDz, providing DeFi users with opportunities for sustainable returns and portfolio diversification, currently offering an annual interest rate of 14.8%.

Anzen's secured private credit investment portfolio

ANZ adopts the 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, where the Launchpad accounts for 6.7%, community airdrop for 5%, and ecological rewards for 2.7%. 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 maintains close relationships with major KOLs and NFT communities. Doodles, PudgyPenguins, and others have their presence, and the project team appears to be well-versed in operational strategies, even changing their avatar to a fat penguin on December 16.

Additionally, as observed by the author, the ANZ project has seen small amounts of funds continuously added to the pool since its launch, with smart money consistently buying in, and its token ANZ price has risen 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’s return to power and the acceleration of the compliance process, there is still significant development potential in the stablecoin sector. Currently, the Base chain 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.