More than a month later, Binance's new Launchpool has finally arrived. However, contrary to what many expected, this round of Usual's new launch was not that popular, and many seasoned investors, including myself, missed out.
The reason is that Usual is focused on stablecoin issuance, and many seasoned investors instinctively associate it with the algorithmic stability that was very popular during the last bull market; hearing these two words often triggers memories of past failures. To this day, I still remember rushing to stablecoin projects with gas fees over a hundred dollars, and then there were no further developments.
In fact, Usual's stability is completely different from what everyone understands. Their stablecoin is fully backed by real-world assets (RWA) at a 1:1 ratio and is completely compliant, which sharply contrasts with the original algorithmic stablecoins.
According to the official introduction, Usual is a multi-chain infrastructure that integrates the growing tokenized real-world assets (RWA) from BlackRock, Ondo, Mountain Protocol, M0, and Hashnote, transforming them into a permissionless, on-chain verifiable, and composable stablecoin USD0.
In April of this year, Usual announced the completion of a 7 million USD funding 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 funding round of 1.5 million USD, with participation from Comfy Capital, early crypto project investors echo, and Breed VC founder Jed Breed, though specific valuation data was not disclosed.
In other words, Usual's publicly disclosed funding amount is only 8.5 million USD, which is clearly not on the same scale as those projects that raise tens of millions or even over a hundred million. However, while most people are chasing those top-tier projects, Usual has directly accessed Binance, and those who haven't participated before can join the Launchpool mining.
Missing out is one thing, but research on the Usual project should not be overlooked, as they have genuinely made it to the cosmos and are quite capable.
1. Founder: Former political advisor to the French President
Usual CEO Pierre Person was a former member of the French National Assembly, primarily working in monetary policy and also served as a political advisor to French President Macron.
In 2022, this guy founded Usual, aiming to rebuild a stable feedback mechanism through decentralized data, allowing users to gain more data ownership.
As of today, Usual's total TVL has exceeded 370 million USD.
2. USD0: The first liquid deposit token
USD0 is the first liquid deposit token (LDT) offered by Usual, supported by real-world assets (RWA) at a 1:1 ultra-short duration to ensure its stability and safety. At the same time, USD0 acts as an RWA stablecoin that aggregates various U.S. Treasury token types and can be minted in two different ways.
① Direct RWA Deposit: Users deposit eligible RWA into the protocol and receive an equivalent of 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 supply the necessary RWA collateral.
3. $USUAL: 90% of the total supply is allocated to the community
$USUAL has a total supply of 4 billion tokens, 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, while 10% will be allocated to insiders (teams, advisors, investors), ensuring fair distribution and genuine participation for users.
As the official governance token, $USUAL holders will eventually have rights to the platform protocol's actual revenue, future income, and infrastructure ownership.
It is worth noting that USUAL is deflationary, similar to Bitcoin's halving mechanism; the earlier you participate in the token allocation, the more tokens you will receive.
For more project information, refer to Binance's research report: https://www.binance.com/en/research/projects/usual
