FAQ
Frequently Asked Questions
🛡️ General
What is USDz and how does it work?
USDz is a stablecoin supported by a diversified portfolio of private credit assets. These assets are meticulously underwritten in collaboration with Percent, a US licensed broker-dealer. Percent has structured and serviced over $1.7B in credit deals since 2018. Anzen invests capital alongside institutional fiat investors. The yield from its credit portfolio offers a sustainable income stream, which supports rewards for on-chain USDz holders.
Does holding USDz generate any yield from RWA assets?
No, holding USDz is similar to holding USDe from Ethena. You need to stake USDz on the Mainnet to receive sUSDz, which will enable you to earn rewards from RWA private credit deals.
What does RWA mean and how does it integrate with Anzen?
RWAs are digitized on blockchain platforms. They combine the tangible economic value of physical assets with the efficiency and flexibility of digital transactions.
Anzen allows crypto investors to access yield derived from real-world assets. This provides a reliable source of income and diversifies the risk associated with purely crypto-backed yield protocols.
Real-world assets tokenized by Anzen have been vetted by qualified holders and pledged on-chain as collateral backing.
Where does the yield originate? If I stake USDz, how high could my yields potentially be?
The USDz token itself does not provide any yield. However, if you stake USDz on ETH mainnet, you will receive sUSDz, which grants access to staking rewards.
sUSDz offers a base staking reward which is uncorrelated by crypto market conditions. The effective staking rewards ratio may be affected depending on the TVL of the staking pool.
For instance, consider a total value locked (TVL) of 100M. If 20M is staked and 80M is not, and the rewards rate is 15%, the stakers will earn a reward of effectively 75% APY. This figure is calculated based on 15M earned by the 20M stakers.
What are the risks associated with USDz?
USDz’s risks are mostly listed below:
Smart contract Risk
Collateral Risk
Regulatory Risk
Could you provide more information on the collateral backing and transparency associated with Anzen?
USDz is backed by private credit assets. This isn't simply a random assortment of assets. It's a carefully selected, diversified portfolio, designed based on specific underwriting criteria and stringent portfolio risk controls.
USDz's Collateral and Backing Assets Criteria
The portfolio is designed with the following criteria in mind:
The assets are based in the United States. Consequently, the portfolio's exposure is primarily in the US market, which reduces the risk associated with international economic fluctuations.
There is a 15% concentration limit on any single asset. This means that the portfolio is diversified across a minimum of 6-7 different assets, creating a balanced risk profile and minimizing the impact of any single asset's performance on the overall portfolio.
The portfolio only includes asset-backed securities (ABS) structures. This means that all the notes that are part of the portfolio are collateralized, providing an added layer of security for the investors and reducing the risk of default.
USDz is minted through audited smart contracts, ensuring that each token is backed on a 1:1 basis with SPCT (Secured Private Credit Token) which is a permissioned token representing tokenized real-world assets. This on-chain record ensures that every USDz in circulation is fully collateralized, enhancing its stability and reliability as a medium of exchange.
All operations related to the issuance and redemption of USDz are recorded transparently on the blockchain. This allows users to verify the solvency of USDz at any time, providing clear visibility into the health of its reserves.
Users can view reserves by clicking on the following link: https://rwa.anzen.finance/transparency
How safe is USDz? & Will USDz ever depeg?
A depeg occurs when the value of a stable asset strays exponentially from its pegged value. There are several reasons why this can happen, including liquidity problems, and regulatory crackdowns
USDz acts as a hedge against unfavorable crypto market conditions since it is tied to real-world assets. However, it's still susceptible to risks, as outlined in the risk section.
Users can visit the linked collateral section below to understand Anzen's risk management practices.
https://docs.anzen.finance/overview/anzen-protocol/backing-assets-collateral
Is it possible to mint more USDz even if the cap limit has been reached?
No, once the cap limit is reached you will need to wait till the next cap increase to mint more USDz tokens.
What jurisdictions are restricted from participating in Anzen’s points program?
Anzen, USDz, and our z-points program are not available to Abkhazia, Afghanistan, Angola, Belarus, Burundi, Central African Republic, Congo, Cuba, Crimea, Ethiopia, Guinea-Bissau, Iran, Ivory Coast (Cote D’Ivoire), Lebanon, Liberia, Libya, Mali, Burma (Myanmar), Nicaragua, North Korea, Northern Cyprus, Russia, Somalia, Somaliland, South Ossetia, South Sudan, Sudan, Syria, Ukraine (Donetsk and Luhansk regions), United States, Venezuela, Yemen, and Zimbabwe.
⚒️️ Product
Where do I see my positions?
You can view your current positions on Anzen's dashboard. https://rwa.anzen.finance/dashboard
Where do I see my z-points?
You can view your z-points and leaderboard rankingg on Anzen's dashboard. https://rwa.anzen.finance/dashboard
Why can’t I stake USDz on Base?
Currently, we are only offering staking on the Ethereum Mainnet. However you can bridge your sUSDz on Anzen to use sUSDz on Base.
Why have my z-points stopped updating?
You exited all your Anzen-related positions
Occasionally there might be a UI bug - in these instances the team endeavors to fix the bug as soon as possible, but users will still be earning z-points.
If I withdraw my positions before the end of the campaign, do I keep my z-points?
If you leave your Anzen-related position before the campaign ends, you won't lose your z-points. However, you won't earn any additional points once you're no longer in the position.
Do I earn z-points from borrowing USDz?
Currently, on Extra Finance a user will only earn points from lending out USDz
What happens for Anzen V1 users?
Anzen V1 users will be automatically whitelisted for V2 USDz minting features.
V1 smart contracts are permanent, and withdrawals will always be available. However, there will be no future rebasing events on V1. V1 is being phased out in advance to allow users time to transfer their funds and to avoid confusion by ensuring only one version of the protocol is active at a time.
Anzen doesn't charge protocol fees for certain transactions, such as withdrawing your investment from V1. However, regular blockchain gas fees still apply for on-chain transactions.
My leaderboard is not updating is there an issue with my z-points?
The leaderboard updates every 15 minutes. If there is a UI bug, the team works to fix it as quickly as possible. In the meantime, users will continue to earn z-points.
✨ z-points Boost
Where can I see the multiples for z-points?
z-points multiples will be listed under the Anzen dashboard under “Ways to Earn”
Do Galxe users receive any benefits from z-points?
OG Galaxe users from Anzen V1 will automatically have their points rolled over and receive a 200% loyalty boost while new Galaxe users for Anzen V2 will receive an additional bonus for further promoting Anzen.
See Anzen's Galxe page: https://app.galxe.com/quest/Anzen
Do I get any z-points boost for referrals?
You will receive a permanent 10% boost for referring other users. This boost will not accumulate with multiple referrals.
Do I get any z-points boost for voting with veAERO?
Yes, you will receive an additional boost for veAERO voting. This voting not only provides veAERO users with an extra percentage boost for z-points but also enables them to farm incentives from the USDz-related LP pools.
If you want to learn more about Aerodrome voting mechanics click on the link below:
🔧 Defi Integrations
What are Aero Emissions?
Emissions are generated by depositing into any Aerodrome LP pool. Specifically, if you deposit liquidity into any pool associated with USDz, you will earn $AERO.
More information on Aero Emissions linked below:
What can I do with $AERO Emissions?
You can lock up $AERO for $veAERO to vote on any pool. We recommend voting on USDz-related pools to earn an extra boost for z-points. You also have the option to hold or sell $AERO as you see fit.
Please join @AnzenCommunity on Telegram, @AnzenFinance on Discord, or follow @AnzenFinance on Twitter.
Last updated