After more than a month, Binance's new round of Lanchpool has finally arrived. However, contrary to what many expected, this time the new Usual is not that popular, and many old investors, including myself, have missed out.
The reason is that Usual is focused on stablecoin issuance, and many old investors will subconsciously associate it with the algorithmic stability that was all the rage in the last bull market. Every time they hear these two words, they will think of the collapse. To this day, I still remember rushing to the algorithmic stability with hundreds of U in gas fees, and then there was no 'then'.
In fact, Usual is completely different from what everyone understands as stable. Their stablecoin is fully compliant and supported 1:1 by real-world assets (RWA), which is completely different from the original algorithmic stablecoins.
According to the official introduction, Usual is a multi-chain infrastructure that integrates the growing tokenized real-world assets (RWA) of BlackRock, Ondo, Mountain Protocol, M0, and Hashnote, transforming them into permissionless, on-chain verifiable, and composable stablecoin USD0.
In April this year, Usual announced the completion of a $7 million financing round, 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 financing round of $1.5 million, with investments from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed, specific valuation data has not been disclosed.
In other words, the disclosed financing amount of Usual is only $8.5 million, which is clearly 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 focused on those top-tier projects, Usual went directly to Binance, and if you haven't participated before, you can join the Lanchpool mining.
Missing the boat is missing out on the research of the Usual project, after all, they have solidly entered the universe and have some real skills.
1. Founder: Former political advisor to the President of France
Usual CEO Pierre Person was previously a member of the French National Assembly, mainly working on monetary policy, and also served as a political advisor to French President Macron.
In 2022, this guy founded Usual with the aim of rebuilding 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 liquid deposit token
USD0 is the first liquid deposit token (LDT) provided by Usual, supported by real-world assets (RWA) at a 1:1 ultra-short maturity, ensuring its stability and security. At the same time, USD0 serves as an RWA stablecoin aggregating various U.S. Treasury bond tokens and can be minted in two different ways:
① Direct RWA deposit: Users deposit eligible RWA into the protocol and receive an equivalent USD0 at a 1:1 ratio;
② Indirect USDC/USDT deposit: 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.
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% will be allocated to insiders (team, advisors, investors), ensuring fair distribution and genuine participation for users.
As the official governance token, $USUAL holders will have actual income from the platform protocol, future revenue, and ownership of the infrastructure.
It is worth noting that USUAL is deflationary, just like Bitcoin's halving mechanism, the earlier you participate in the distribution, the more tokens you will receive.
For more project information, you can refer to the Binance research report: https://www.binance.com/zh-CN/research/projects/usual
