Usual Protocol is a decentralized platform that issues fiat-backed stablecoins, aiming to redistribute value and ownership through its governance token, $USUAL. By integrating tokenized Real-World Assets (RWAs) into the decentralized finance (DeFi) ecosystem, Usual seeks to offer a more transparent and equitable alternative to traditional stablecoin models.
Tokenomics
The $USUAL token serves as both a governance and utility token within the Usual ecosystem. Its issuance is directly tied to the protocol's revenue, ensuring that token supply grows in tandem with the platform's Total Value Locked (TVL). This model promotes scarcity and aligns the token's value with the protocol's success. Notably, 90% of $USUAL tokens are allocated to the community, with only 10% reserved for insiders, fostering a fair distribution of value.
Underlying Technology
Usual operates as a multi-chain infrastructure, aggregating tokenized RWAs from entities such as BlackRock, Ondo, and Hashnote. These assets are transformed into USD0, a permissionless, on-chain verifiable, and composable stablecoin. The platform utilizes smart contracts to manage token operations, including minting, burning, and transfers, with integrated security measures like blacklist checks to ensure compliance and security.
Supported Networks
Initially deployed on the Ethereum mainnet, Usual has expanded to other networks to enhance accessibility and scalability. In October 2024, Usual launched on Arbitrum, a leading Layer 2 scaling solution for Ethereum, offering users faster and more cost-effective transactions. This expansion is part of Usual's broader strategy to become a cross-chain stablecoin, with plans to integrate into additional Layer 1 and Layer 2 networks in the future.
Market Status
Since its launch in July 2024, Usual has attracted significant investment, with over $1.4 billion in cash invested directly in tokenized US Treasuries. This substantial Total Value Locked (TVL) reflects strong market confidence in Usual's model. The $USUAL token is actively traded on various platforms, with its value intrinsically linked to the protocol's revenue and growth.
Investors
Usual has garnered support from over 200 investors since its inception in June 2022. Notably, in December 2024, Usual completed a $10 million Series A funding round led by Binance Labs and Kraken Ventures, underscoring strong institutional confidence in its innovative approach to stablecoins.
Development Status
Usual is actively developing its platform, with recent milestones including the launch on Arbitrum and the introduction of USD0++. USD0++ functions as a liquid staking version of USD0, offering users yield-generating opportunities with a four-year lock-up period. The protocol continues to expand its ecosystem through partnerships and integrations, aiming to enhance utility and adoption within the DeFi space.
Technological Innovation and Potential
By bridging RWAs with DeFi, Usual introduces a novel model that combines the stability of traditional assets with the transparency and accessibility of blockchain technology. Its community-first tokenomics and commitment to fair value redistribution position Usual as a potential leader in the evolution of stablecoins, challenging existing paradigms and promoting a more equitable financial ecosystem.
Comments