Anzen
About
Anzen is a decentralized RWA protocol that issues USDz, an on-chain stablecoin backed by real-world private credit assets. The protocol enables users to earn sustainable yields from institutional-grade private credit securities while accessing a composable stablecoin for DeFi applications. USDz is designed to provide stable, non-crypto-correlated yields across various market conditions through its diversified portfolio of asset-backed securities.
Where Does Yield Come From?
How the yield is generated
USDz earns yield from a collection of real-world loans and credit assets based in the United States. These are mostly asset‑backed securities (ABS)—bundles of loans that produce regular interest payments.
What’s inside the portfolio
The loans backing those securities come from areas such as:
- Small‑business merchant receivables
- Factored invoices (where a business sells its unpaid invoices for early cash)
- Litigation finance (loans to law firms or plaintiffs)
- Auto‑lease financing
- Other private‑credit instruments
All of these assets generate fixed‑income returns—steady interest that flows into the protocol.
How users earn
When you stake your USDz, you receive sUSDz (staked USDz) in return. The rewards you earn are a share of the revenue that the real‑world assets produce. The protocol’s reward system distributes that revenue to sUSDz holders.
Important mechanics
Unstaking sUSDz to get your USDz back requires a 7‑day cooldown period—a waiting time built into the system.
Risk management
The portfolio is built with strict rules:
- Limits on how much can go into any single asset (concentration limits)
- Only US‑based assets
- Only asset‑backed security structures
These rules aim to diversify risk and protect the collateral that backs USDz.
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Halborn24-04-2024 - 07-05-2024 |
| The audit identified two high-severity vulnerabilities in blacklist enforcement and stake calculations, both fully resolved, plus one medium oracle risk and several low-severity issues. All findings were addressed or acknowledged, indicating thorough remediation before production deployment. |
Zellic13-05-2024 - 15-05-2024 |
| The audit found no critical or high-severity vulnerabilities, with all identified medium and low-severity issues promptly fixed before deployment, resulting in a clean security posture for the reviewed Anzen Finance contracts. |
PeckShield28-04-2024 |
| PeckShield's audit found two medium‑severity and one low‑severity issue, all of which were promptly addressed; the codebase is well‑structured with no critical or high‑risk vulnerabilities remaining. |
Zellic25-11-2024 - 09-12-2024 |
| The audit found no critical vulnerabilities, with three medium-severity issues that were largely addressed by the team. The protocol demonstrates reasonable security posture but retains some design considerations around cross-chain synchronization and edge-case rounding. |
Backers
Anzen Finance raised $4 million in seed funding in May 2024. Investors included Mechanism Capital, Circle Ventures, Frax, Arca, Infinity Ventures, Cherubic Ventures, Palm Drive Ventures, M31 Capital, Kraynos Capital, and others. This seed round represents the firm's total funding to date.
Legal
Legal form
Limited company (Ltd)
Registration jurisdiction
British Virgin Islands
Status and notes
Operating entity disclosed as Anzen Group Ltd in Terms of Service. Terms governed by British Virgin Islands law. Privacy Policy contains demo/template references to AstroWind LLC (appears unupdated).