The recent decline of $USUAL is mainly due to three reasons:

1. USD0 briefly decoupled; a large trader dumped over ten million USD, causing USD0 to briefly fall to around 0.98, but it quickly recovered, which can be seen as a stress test.

2. Usual withdrawals from staking were originally subject to a 10% fee, but someone formed a LP of usual and usualy on Uniswap, allowing many people to withdraw usual without a fee. This caused many large traders to worry that others would sell off, leading to a rush to withdraw and sell coins.

3. The annualized interest rate has decreased; due to the cost of unstaking, it now takes about ten days to recover this cost, and many people are reluctant to stake.

4. The buying power of spot market hoarders has diminished because staking generates income; many people feel that holding spot assets is not worthwhile. Although the secondary market sees daily trading volumes of over one hundred million USD, it has failed to retain user funds, with quick in-and-out trades.

Future expectations: First, we will look at the profit distribution on the 7th; if it rises above 1.5, confidence will be reestablished, and large traders will again enter the staking market. Additionally, we will observe the upcoming developments in DeFi to see if it can collaborate with major swap and lending markets to enhance the use cases and demand for USD0. When the interest rate drops below 100% in six months, the secondary market may see hoarders entering, as dilution will be reduced.