With the re-launch of Binance Launchpool, Usual, a stablecoin project based on real-world assets (RWA), has attracted widespread attention in the market. As an important new force in the crypto space, Usual's design philosophy and operational methods differ from traditional algorithmic stablecoins, bringing unique potential and challenges. The following provides a professional analysis of Usual's core value and market prospects:
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1. Project background: From monetary policy to blockchain innovation
Usual's founder Pierre Person was a member of the French Parliament, responsible for monetary policy, and served as an advisor to President Macron. This experience brings Usual a rare sensitivity to policy and professional insight. In 2022, Person founded Usual with the aim of reshaping the stablecoin market using decentralized technology. Within just two years, its platform's total TVL (Total Value Locked) has exceeded $370 million, demonstrating market recognition of its design philosophy.
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2. Innovation and differentiation of the USD0 stablecoin
Core features
USD0 is Usual's core product, as the first liquid deposit token (LDT) backed by real-world assets (such as U.S. Treasury bonds), and is fully compliant, completely distinguishing it from the 'algorithmic stablecoins' of the previous bull market.
Source of stability: USD0 is backed by ultra-short-term high-credit assets at a 1:1 ratio, minimizing volatility risks.
Minting method:
1. Direct model: Users deposit RWA assets and receive USD0 at a 1:1 ratio.
2. Indirect model: Users deposit USDC or USDT to indirectly mint USD0 through third-party collateral providers.
Market positioning
The positioning of USD0 is to become a bridge connecting traditional finance (TradFi) and decentralized finance (DeFi), meeting the demand of institutional investors and crypto natives for stable, efficient value storage tools. This RWA-centric stablecoin model currently has few competitors, indicating a broad market space.
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3. Community-driven token economics
Token distribution
Total supply: 4 billion
Initial circulation: 12.37%
Community distribution: 90%, with internal teams and advisors accounting for only 10%, demonstrating the project's emphasis on decentralization and community participation.
Binance Launchpool allocation: 7.5%.
Token value
Governance and revenue distribution: $USUAL will serve as the governance token, granting holders rights to income benefits and decision-making in platform agreements.
Deflationary model: Similar to Bitcoin's halving mechanism, the earlier holders participate, the more tokens they receive, and the supply gradually decreases over time.
Potential risks
Although the distribution plan is friendly, early internal investors may pose selling pressure risks; additionally, whether the project can continuously attract user traffic is also an important consideration for maintaining token value.
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4. Advantages and challenges
Advantages
Strong traditional finance partners: Integrating RWA asset providers like BlackRock, with high credibility.
Compliance and transparency: Provides a secure and stable option for institutional investors with high compliance requirements.
Well-developed ecosystem infrastructure: Cross-chain infrastructure design helps enhance USD0's market liquidity and use cases.
Challenges
Competitive pressure: The market demand for RWA-supported stablecoins is gradually increasing, but competitors like Circle (USDC supporting RWA) and MakerDAO are also accelerating their layout.
Asset transparency and risk control: Whether RWA as a foundation will be affected by geopolitical or economic environments impacting its value stability still requires further verification.
Funding size limitation: The publicly raised amount is only $8.5 million, which still has room for improvement compared to mainstream DeFi projects, and caution is needed regarding the limitations that insufficient funds may impose on development.
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5. Conclusion and recommendations
Usual's positioning is accurate, filling the gap between traditional finance and DeFi, and establishing a differentiated advantage with high transparency and innovative models. For the stablecoin market, USD0 is a potential incremental asset type that is expected to attract institutional and high-net-worth users. However, before participating, the following points should be closely monitored:
1. Asset transparency: Verify the reliability of RWA holdings and collateral;
2. Ecosystem development progress: Pay attention to whether USD0 can successfully expand more use cases;
3. Market liquidity: Track the performance of the token in the secondary market to avoid high volatility risks due to low liquidity.
As a participant, Usual's $USUAL may be worth diversifying, but individual risk tolerance should be cautiously evaluated, and position management should be reasonable.$BNB #USUALonLaunchpool&Pre-Market #USUAL
