Usual is a stablecoin project built on the Ethereum network, allowing users to stake assets and receive the project's stablecoin - USD0. The aim of Usual is to become a platform that provides a safe, transparent stablecoin, helping users to gain additional profits from holding, through the project's financial product suite.
Although Usual only launched in mid-July 2024, the platform has already achieved a TVL of 130 million USD just after 30 days.
Usual's Products
The operational model of Usual includes three types of tokens: Liquid Deposit Token, Liquid Bond Token, and USUAL token. Accordingly:
Liquid Deposit Token
Liquid Deposit Token refers to Usual's stablecoin - USD0, which users receive when staking other assets such as USDC, USDT... According to the Usual team, USD0 is backed by US Treasury bonds (US T-bills) and some other repo (repurchasing agreement) assets.
Since USD0 is backed by short-term assets, this stablecoin possesses advantages such as high liquidity and low risk. However, in return, the backing from short-term assets is often accompanied by low interest rates for the stablecoin.
As mentioned above, USD0 is backed by repo assets and one of these is the USDY token - a type of asset backed by US Treasury and bank deposits. Accordingly, users can use the USDY token to provide liquidity and earn transaction fees each time someone mints USD0 tokens.
Liquid Bond Token (LBT)
Liquid Bond Token is a mechanism that allows users to stake the stablecoin USD0 and receive USD0++ tokens at a 1:1 ratio. The benefit of holding LBT tokens is that users can utilize them for DeFi activities such as providing liquidity on Curve...
Even if the LBT token is not used, holders can still earn interest from the RWA assets (US T-bills, repo) of the USD0 token. Additionally, rewards from LBT will be distributed to users in the form of USUAL tokens. Therefore, the purpose of LBT is not only to increase the utility of the USD0 stablecoin but also the USUAL token.
USUAL Token
USUAL is a governance token for project voting, aimed at increasing decentralization for the platform. The standout feature of USUAL is that this token can only be obtained through LBT rewards, thereby enhancing fairness, decentralization, and "favor" for those individuals who contribute significantly to the platform.
At the time of writing, USUAL has not officially launched, but the team shares that 90% of the total supply will be allocated to the Usual community and 10% to project contributors.
What is the USUAL Token?
USUAL Token Key Metric
Token Name: Usual
Ticker: USAL
Blockchain: Ethereum
Total Supply: 4,000,000,000 USUAL
Distribution Ratio of USUAL Token
Community Incentive: 64.5%
Initial Airdrop: 8.5%
Binance Launchpool: 7.5%
DAO & Ecosystem: 7.5%
Investor & Advisor: 5.68%
Team: 4.32%
Liquidity: 2%
The team, investors, and partners of the Usual project
Project Team
The Usual team includes members with experience in finance, technology, and even politics:
Hugo Sallé de Chou: Co-Founder and COO at Usual. Previously, he founded the tech startup Pumpkin, which was later acquired by the French bank - Crédit Mutuel Arkea.
Pierre Person: CEO at Usual. He has experience in French politics, having worked at companies like Les Jeunes avec Macro, Renaissance. Pierre is even a member of the Paris Parliament.
Investors and Partners
On April 17, 2024, Usual successfully raised 7 million USD in a Strategic round led by IOSG Ventures and Kraken Ventures. This funding round also included several large funds such as GSR Market LTD, Mantle, StarkWare…
Usual's strategic partners include names like Bail Security, Balancer, Curve Finance…