From the opening of Launchpool on November 15 to the end of pre-market trading on December 17, the Usual stablecoin has been on the Binance homepage for more than a month, attracting widespread attention. From the opening to now, the price of Usual has risen by up to four times, especially in December when the market generally fell, Usual actually rose by 35% against the trend. What is so unique about it that makes the cryptocurrency circle so crazy?
Usual's outstanding performance is inseparable from its strong founding team and senior investment background. Founder Pierre Person was once an advisor to the French president and made important contributions to the promotion of French cryptocurrency regulation. He co-founded Usual with Hugo Sallé de Chou, who founded Pumpkin, a payment startup similar to Venmo in 2014 and once had 2 million active users. In addition, there are senior figures in the crypto industry such as Adli Takkal Bataille and Pierre Cumenal, and the strength behind them is evident.
In terms of investment institutions, Usual's supporters include well-known investment institutions such as Dewhales, IOSG, and Kraken Ventures, as well as endorsements from multiple angel investors such as Frax, Curve, and Defi Dad. The participation of these bigwigs not only brings capital support to Usual, but also enhances its market credibility.
As a stablecoin project, Usual has a very simple operating model. Users can deposit cryptocurrencies such as USDC, USDT, and ETH into the platform, and the Usual team will convert them into low-risk assets such as U.S. short-term Treasury bills and repurchase agreements for value-added. Compared with traditional banks, the feature of Usual is that it provides a stablecoin USD0, which users can use for other DeFi projects, such as pledging USD0 to obtain USD0++, without relying on the traditional financial system.
Usual's governance token USUAL has been launched, and currently 12.37% of the tokens have been unlocked, and the remaining tokens will be gradually released according to the lock-up amount of USD0++. This token release mechanism ensures that its issuance speed does not exceed the economic expansion speed of the protocol, which helps to maintain the long-term healthy development of the project.
For investors, Usual's current fundamentals look very solid. The locked assets have exceeded $1.14 billion, and the annual revenue has reached $46 million. Although the market may face volatility, Usual's future is still full of potential against the backdrop of the continued growth in demand for stablecoins in the crypto market.
Of course, it is worth noting that when staking USUAL tokens, there will be a 10% loss when withdrawing them, and this part of the fee will be distributed to long-term stakers.
For investors who are willing to hold for the long term, Usual's stability and potential returns are worth paying attention to. There may be some market fluctuations in the short term, but if you are optimistic about the role of stablecoins in the future market, Usual is undoubtedly a project worth paying attention to.
