【Usual: USD0 always maintains redeemable 1:1 collateral and strong secondary liquidity】On January 1, news broke that Usual officially announced that yesterday (December 31 at 07:00 UTC), the Usual protocol experienced a large-scale sell-off of USD0 triggered by a single whale trade on the secondary market, raising user concerns about the USD0's peg to the US dollar. USD0 briefly fell to $0.99, with some basis deviations due to ongoing sell-offs, but quickly returned to full peg. All dollar-pegged stablecoins in the market will exhibit price fluctuations of a few basis points around $1, which is a normal phenomenon brought about by the mechanism of dollar-pegged stablecoins. USD0 can always be redeemed for its underlying collateral at a 1:1 ratio to ensure the solvency of the Usual protocol. Redemptions are processed through smart contracts, and currently, any whitelisted entity can access this, with our ultimate goal being to make it entirely permissionless. USD0 also has strong secondary liquidity, with the liquidity of the collateral depending on tokenized RWA issuers. Usual selects diversified assets such as USYC, Ethena's USDTB, BlackRock's Securitize BUIDL fund, and Ondo's OUSG, ensuring multiple exit pathways and optimal liquidity. This incident is a significant stress test for the USD0 US dollar peg, and Usual remains strong and will always focus on the stability of the system.