Anzen Staked USDz
SUSDZ
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Anzen Staked USDz (SUSDZ) is the yield-bearing staked receipt token of Anzen's RWA-backed stablecoin USDz. The project demonstrates solid smart contract security foundations with completed audits by Zellic, PeckShield, and Halborn, along with a clean non-inflationary yield model generating revenue from private credit. However, the token suffers from severe market and adoption headwinds: development and attestation transparency is minimal, organic community engagement is near non-existent with extreme holder concentration (top 10 holding >99%), and secondary market liquidity is thin alongside persistent discounts/depegging against its $1.00 NAV. No qualifying red-flag events were established to trigger an artificial cap, but the weighted composite score reflects substantial structural and liquidity risks.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Anzen Staked USDz (SUSDZ)
Anzen Staked USDz (SUSDZ) is the yield-bearing staked receipt token for USDz, a real-world asset (RWA) backed stablecoin issued by Anzen Finance. The protocol operates across several blockchains, including Ethereum, Base, Manta Pacific, Arbitrum One, and Blast, with SUSDZ serving as the staked token wrapper on Ethereum. The parent USDz token is collateralized by cash-flowing real-world assets, primarily private credit portfolios.
SUSDZ utilizes a non-inflationary yield model where users receive sUSDz upon staking USDz. Rather than distributing reward tokens, the asset generates returns through an appreciating redemption rate backed by the protocol's underlying private-credit yield. The protocol was backed by $4 million in seed funding and co-founded by Ben Shyong. The underlying smart contracts have undergone independent security audits conducted by Zellic, PeckShield, and Halborn.
The token exhibits several structural risks, including market performance challenges and centralization. SUSDZ has experienced persistent discounts and secondary market depegging against its $1.00 net asset value, with recorded trading prices ranging between $0.85 and $0.97. Additionally, the asset demonstrates extreme ownership concentration, with the top ten holders controlling over 99% of the circulating supply. Governance remains centralized under a corporate board framework without active decentralized autonomous organization (DAO) voting, and the protocol maintains limited public development activity and reserve attestation disclosures.