USUAL is a stablecoin launched by Usual Labs. Here is an overview of USUAL:
What it is: USUAL is a decentralized stablecoin, backed by real assets (RWAs) such as those issued by large institutions like BlackRock and Ondo. It aims to create a verifiable and computable stablecoin on-chain (USD0), giving users the ability to transact real-world value in a decentralized manner.
System: USUAL consists of two main products:
USD0: A fiat-backed stablecoin at a 1:1 ratio to the US dollar, aiming to maintain a stable value.
USUAL: This is a governance token that gives the holder a stake in the management of the protocol and the distribution of profits, and gives ownership and governance rights to users.
Objectives: USUAL focuses on redistributing power and ownership through a decentralized system where users can be part of the decision-making process. Unlike traditional financial systems where control and profits are concentrated in a few hands, USUAL aims to distribute this value fairly among participants.
Funding and Support: Launched in Q3 2022, Usual Labs has managed to attract support from over 150 angel investors and venture capital firms, including Kraken Ventures, LBank Labs, Axelar, and IOSG Ventures, as well as support from prominent figures in the crypto space such as Michael Egorov (founder of Curve Finance) and Sam (founder of Frax Finance).
