Original | Odaily Planet Daily (@OdailyChina)
Author | Asher (@Asher_0210)
This afternoon, Binance announced that it will launch the 61st project Usual (USUAL) on Launchpool at 18:00 Beijing time on November 19, and start pre-market trading. Users can lock BNB and FDUSD to participate in mining, and the mining period is from 00:00 on November 15 to 8:59 on November 19, 2024, Beijing time. As soon as the news came out, the price of BNB once hit $660 in the short term, and temporarily reported $648, with a 24-hour increase of more than 6%.
Next, Odaily Planet Daily will be the first to let you know about Binance Launchpool’s latest project Usual and its token economic model.
Project Introduction
Image source: Official Twitter
Usual is a secure, decentralized fiat stablecoin issuer that will distribute platform ownership and governance through its platform token USUAL in the future. Usual is a multi-chain infrastructure that brings together the growing tokenized real-world assets (RWA) of BlackRock, Ondo, Mountain Protocol, M0, and Hashnote entities, and transforms them into a permissionless, on-chain verifiable and composable stablecoin USD0.
Among them, USD0 is the first liquid deposit token (LDT) provided by Usual, which is backed by real-world assets (RWA) at an ultra-short term of 1:1, ensuring its stability and security. At the same time, USD0, as an RWA stablecoin that aggregates various U.S. Treasury tokens, can be minted on Usual in two different ways:
Direct RWA deposits: Users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio;
Indirect USDC/USDT deposits: Users deposit USDC/USDT into the protocol and receive USD0 at a 1:1 ratio. This indirect method involves third-party collateral providers who provide the necessary RWA collateral. This allows users to obtain USD0 without having to directly handle RWA.
According to ROOTDATA data, Usual completed two rounds of financing this year, with a total amount of US$8.5 million, including:
On April 17, Usual announced the completion of a $7 million financing round, led by IOSG and Kraken Ventures, with participation from GSR, Mantle, Starkware, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works and X Ventures;
On November 9, Usual announced the completion of a new round of financing of US$1.5 million. This round of financing was participated by Comfy Capital, early encryption project investor echo, Breed VC founder Jed Breed, etc. The specific valuation data has not been disclosed yet.
According to DefiLlama data, the current total TVL of the Usual platform is US$350 million, close to its historical high.
Usual TVL data
Token Economic Model
According to official information, the total supply of USUAL, the token issued by the legal stablecoin issuer, is 4,000,000,000, of which the initial circulation accounts for 12.37% of the total supply of tokens, which is 494,600,000. The number of Binance Launchpool accounts for 7.5% of the total supply of tokens, which is 300,000,000. Therefore, the first round of airdrops may be 4.87%. In addition, USUAL is an Ethereum native token, and its contract code is: 0x430a2712cEFaaC8cb66E9cb29fF267CFcfA38a42.
The USUAL governance token of the legal stablecoin issuer USUAL will have actual income, future income and infrastructure ownership of the platform protocol in the future. The official document also emphasizes that 90% of the total supply of tokens will be allocated to the community and 10% to internal personnel (team, consultants, investors) to ensure fair distribution and real participation of users.
Interactive Experience
Project official website: https://app.usual.money/
STEP1. Enter the interactive website and click "Connect Wallet".
STEP2. Click “Counter” and then click “Deactivate” to convert USDC to USD0.
STEP3. Click “Drugstore” to group LP. Each row has corresponding APY and Pills rewards (Pills points are related to future token airdrops).
