Usual: Stablecoin or a dangerous investment?

Usual is a stablecoin that is declared as a “stable asset”. But if a coin pegged to a fiat currency drops more than 30% in two days, the question is: What is its stability? Such volatility may indicate weak liquidity, a risky reserve model, or market manipulation. Investors should be careful with Usual, because such "stablecoins" are more like a speculative asset, which calls into question their true attachment to real values.