Usual is a decentralized stablecoin protocol aiming to bring transparency, safety, and community ownership to fiat-backed stablecoins. It introduces USD0, a stablecoin entirely backed by tokenized real-world assets (RWA) like short-term U.S. Treasury bills.

Unlike traditional stablecoins that operate through centralized entities (e.g., Tether and Circle), Usual is governed by its users, who can actively participate in key decision-making processes through the $USUAL governance token.
Project Features

1. Governance by Token Holders: Users who hold the $USUAL governance token have the right to vote on key decisions, such as asset allocation, risk policies, and profit distribution. This ensures a decentralized approach where control rests with the community, not a central authority.
2. Fully On-Chain Asset Collateralization: USD0 is entirely backed by tokenized RWAs, such as U.S. Treasury bills and other low-risk assets, that are kept on-chain. This direct on-chain collateralization model eliminates dependency on banks, reducing risks associated with fractional reserve practices.
3. Yield Redistribution Model: Instead of allowing profits from stablecoin reserves to be retained by the protocol, Usual redistributes yield from USD0’s collateral back to token holders. This unique structure aligns incentives between the protocol and its user base, rewarding those who contribute to the protocol's growth.
4. Multi-Chain Infrastructure: Usual operates on multiple blockchains, making it interoperable with various DeFi ecosystems. This infrastructure enables seamless integration with tokenized assets from providers like BlackRock, Ondo, and Mountain Protocol, improving USD0’s accessibility across different platforms.
USD0

USD0 is Usual’s premium stablecoin product, designed to redefine stability and transparency in decentralized finance. Fully backed by tokenized real-world assets like U.S. Treasury bills, USD0 aims to be a highly secure, dollar-pegged stablecoin that offers the best of safety and accessibility
How It Works

Usual uses a multi-chain infrastructure, meaning it can operate across different blockchain networks, to aggregate tokenized real-world assets (RWAs) onto the blockchain. USD0, its stablecoin, is fully backed by these tokenized RWAs, typically short-term bonds such as U.S. Treasury bills, which are known for their high liquidity and low risk.
The protocol employs smart contracts to automate the management of collateral and yield redistribution. For instance, when collateral assets generate yield, the smart contract pools these profits and redistributes them to $USUAL token holders. This is all governed by a strict risk policy embedded in the protocol, which ensures USD0 remains bankruptcy remote—meaning it is not affected by the risks associated with banks that practice fractional reserve lending.
Governance is another critical aspect. Through the $USUAL token, holders can vote on decisions such as risk management strategies, collateral types, and incentives. This decentralized governance model gives the community control, allowing them to adapt the protocol to changing market conditions while maintaining transparency and security.
Bankruptcy-Resistant Collateralization
By collateralizing USD0 with tokenized government bonds and avoiding commercial banks, Usual ensures that the stablecoin is shielded from risks related to the traditional banking system, such as fractional reserves.
Profit Redistribution Through Treasury Pooling
All yield generated by USD0’s collateral is pooled into the protocol's treasury. This treasury is then used to fund rewards for $USUAL holders, aligning long-term incentives for participants and early adopters.
Permissionless, Composable Stablecoin
USD0 is designed to be interoperable across various DeFi protocols, enabling permissionless integration and composability within the broader DeFi ecosystem.

With Bitcoin Hitting 100k it's time to re-enter Defi world. New Projects Coming with unique and innovative approaches for decentralized finance Ethena, Fluid and now Usual.
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