Key Takeaways
$USUAL Labs is a decentralized protocol that is introducing USD0, a stablecoin that is derived from aggregating real-world assets from various entities.
The protocol was founded by Usual Labs, a French firm that successfully raised $7 million and received $75 million commitment in total value locked (TVL) from more than a hundred investors.
Ahead of the USUAL token launch, users can interact with the Usual platform and earn Pills by performing various activities.
Usual is a decentralized protocol focused on bridging traditional finance with decentralized finance by tokenizing real-world assets (RWAs). This process introduces opportunities to enhance liquidity and accessibility by introducing tangible assets such as real estate, commodities, and financial instruments into the blockchain ecosystem. Usual does this by aggregating various US Treasury Bill tokens from institutions such as BlackRock, Ondo, M0, Mountain Protocol, and Hashnote to be then transformed into a permissionless and on-chain verifiable stablecoin known as USD0.
By connecting RWAs with DeFi ecosystems, Usual is able to further enhance the liquidity of traditionally illiquid assets and make them more accessible to a bigger pool of investors. Fueling the Usual team’s mission is the observation that while RWAs are growing, their integration into DeFi remains a challenge. According to the team, there are less than 5,000 holders of RWA on the mainnet despite the introduction of new products including on-chain US Treasury Bills.
Usual’s goal is to provide an alternative to other fiat-backed stablecoins that redistributes value more equitably among users. The protocol is introducing a model that is essentially rebuilding Tether fully on-chain by letting holders of the Usual governance token make decisions such as risk policies and liquidity incentive strategies. As a result of redistributing 100% of the value and control through its governance token, members of the Usual community become owners of the infrastructure, treasury, and governance.
Other fiat-backed stablecoins are partly collateralized by reserves held in commercial banks, exposing the assets to the fractional reserve practices of these banks. Usual offers a collateralization model that is directly tied to very short-term bonds that is reinforced by a strict risk policy and an insurance fund.
While some models redistribute a portion of generated yields, Usual allows users to pool the generated yield which then forms Usual’s treasury. In return, users receive governance tokens.
Usual Labs, the French firm behind Usual, was founded by Pierre Person, Hugo Salle de Chou, and Adli Takkal Bataille who currently hold the positions of Chief Executive Officer, Chief Operating Officer, and Design Executive Officer respectively.
In April 2024, Usual Labs successfully raised $7 million and received $75 million commitment in total value locked (TVL) from more than a hundred investors. The round was co-led by IOSG Ventures and Kraken Ventures while receiving participation from industry players Mantle, Bing Ventures, Kima Ventures, X Ventures, and more. Usual is also backed by over 150 investors including Michael Egorov, founder of Curve, Sam, founder of Frax, and Charlie from DefiLlama and Curve.
In anticipation of the launch of the governance token, USUAL, the RWA stablecoin protocol is now running the Usual Pills campaign. By participating in various activities, users can earn pre-launch points, or Pills, to determine the amount of USUAL tokens they will receive during the airdrop. The team has allocated 7.5% of the USUAL total supply at the token generation event (TGE). The Pills program is meant to reward users who contribute liquidity during the bootstrapping phase of the Usual protocol. The pre-launch period is set to end in mid-November while the airdrop is scheduled for Q4 2024. Given this timeline and the opportunity to earn Pills, now is a great time to explore the Usual protocol!
