The risks of this type of project are really too obvious, but everyone is entering the market to gamble, just like a Ponzi scheme. Everyone knows it's a game of passing the buck, yet they all believe they won't be the last one holding the bag. This coin can be played for the short term, and it might even skyrocket like the original Luna, but if someone wants to treat it as a long-term investment target, that would really be foolish.

Recently, a new thing has emerged in the cryptocurrency circle, called USUAL Protocol, which claims to be a "decentralized bank" and to move real-world assets (RWA) to the chain. Does it sound familiar? Various "RWA narrative" projects have emerged one after another. Today, Lao Leek will take a look at this USUAL Protocol.

The core of USUAL is the USD0 stablecoin, which is said to solve the problem of uneven distribution of income of the current mainstream stablecoins. They have set up a mechanism of direct minting and indirect minting, which sounds quite fancy. Direct minting is to exchange collateral directly for USD0, and indirect minting is done through DAO. The white paper says that they will accept a variety of collateral, but what are they? What is the collateral ratio? These key information are not clearly stated, which makes people have to doubt their sincerity. Collateral is the lifeblood of stablecoins. If this aspect is not done well, the stability of USD0 will be worrying.

Another key to USUAL is the USUAL token, which is said to be a governance token, and a deflation model is also set up to stimulate user participation. Old leeks have seen this routine many times, it is nothing more than trying to pull the market and cut leeks. Of course, if the project can really develop, token holders can also get a share. But the question is, how big is this "if"? At present, the RWA track is still in its early stages and faces many challenges such as supervision and technology. Whether USUAL can stand out is still unknown.
The white paper also mentions risk management, saying that technical risks, mortgage risks, and product risks must be managed. This is right. Which project does not pay attention to risks? But the real risks are often hidden in the details and cannot be solved by talking about them. Old leeks suggest that if possible, carefully study their smart contract code to see if there are any loopholes.
In short, the starting point of USUAL Protocol is good, and it wants to solve some pain points in the current stablecoin and RWA fields. But old leeks want to remind everyone that any new project has risks, especially projects with relatively new concepts. Don't just listen to their exaggerations, but observe, think, and study more. Don't go all in easily, and don't be overwhelmed by FOMO emotions. #USUAL #USUAL走势分析 #RWA #稳定币 #DeFi