More than a month later, Binance's new round of Launchpool has finally arrived. However, contrary to many people's expectations, this time the Usual token sale has not been as popular, and many seasoned investors, including myself, missed out.

The reason is that Usual is involved in stablecoin issuance, and many seasoned investors instinctively associate it with the previous bull market's popular stablecoins, often linking these two words to sudden crashes. Even today, I still remember the time I paid over a hundred U in gas fees for stablecoin transactions, and then nothing happened after that.

In fact, Usual's stablecoin is completely different from what people understand about algorithmic stability. Their stablecoin is 1:1 backed by real-world assets (RWA) and is fully compliant, which is starkly different from traditional algorithmic stablecoins.

According to the official introduction, Usual is a multi-chain infrastructure that integrates the growing tokenized real-world assets (RWA) from BlackRock, Ondo, Mountain Protocol, M0, and Hashnote, transforming them into a permissionless, on-chain verifiable, and composable stablecoin USD0.

In April this year, Usual announced the completion of $7 million in funding, led by IOSG and Kraken Ventures, with participation from GSR, Mantle, Starkware, Flowdesk, Avid 3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures.

Seven months later, Usual announced the completion of a new funding round of $1.5 million, with participation from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed, among others. Specific valuation data has not been disclosed.

In other words, the only publicly disclosed funding amount by Usual is $8.5 million, which is obviously not on the same scale as those projects that easily raise tens of millions or even over a hundred million. However, while most people are focusing on those major projects, Usual has made its way to Binance, and if one hasn't previously participated, they can join the Launchpool mining.

Missing out aside, research on the Usual project should not be overlooked, as they have genuinely integrated with the universe and have some capabilities.

1. Founder: Former political advisor to the French president

Usual CEO Pierre Person was a former member of the French National Assembly, mainly involved in monetary policy work, and has served as a political advisor to French President Macron.

In 2022, this guy founded Usual, aiming to rebuild a stable feedback mechanism through decentralized data, allowing users to gain more data ownership.

As of today, the total TVL of the Usual platform has exceeded $370 million.

2. USD0: The first liquidity deposit token

USD0 is the first liquidity deposit token (LDT) provided by Usual, backed by real-world assets (RWA) on a 1:1 basis with a super short duration to ensure its stability and security. At the same time, USD0 acts as an RWA stablecoin aggregating various US Treasury bond tokens, which can be minted in two different ways:

① Direct RWA deposit: Users deposit eligible RWA into the protocol and receive an equivalent USD0 on a 1:1 basis;

② Indirect USDC/USDT deposits: Users deposit USDC/USDT into the protocol and receive USD0 on a 1:1 basis. This indirect method involves third-party collateral providers who supply the necessary RWA collateral.

3. $USUAL: 90% of the total supply is allocated to the community

$USUAL total supply is 4 billion, with an initial circulation of 12.37%, of which Binance Launchpool accounts for 7.5%.

The official documentation emphasizes that 90% of the total token supply will be allocated to the community, and 10% to insiders (team, advisors, investors), ensuring fair distribution and genuine participation for users.

As the official governance token, $USUAL holders will have rights to the platform's actual revenue, future income, and infrastructure ownership.

It is worth noting that USUAL is deflationary, just like Bitcoin's halving mechanism, the earlier participants will receive more tokens.

For more project information, you can refer to Binance's research report: https://www.binance.com/zh-CN/research/projects/usual