Fixing Stablecoins and Sharing the Profits: Usual’s Vision for Web3
Decentralization is what first got me hooked on Bitcoin, crypto, and Web3.
Taking power from a few and redistributing it to the many is the ultimate Robin Hood story, and it deeply resonates with my core beliefs.
Every day, thousands work toward this decentralized vision: in finance, identity, data storage, and more.
But wait—one area seems to have missed the decentralization memo entirely.
Stablecoins: Web3’s Fragile Foundation
Surprisingly, one of the most centralized components of Web3 is also its backbone: stablecoins.
Tokens like USDT and USDC dominate the market, but their reliance on private entities (Tether and Circle) makes them anything but decentralized. They control reserves and peg stability, ultimately holding immense power over the ecosystem.
Moreover, stablecoin giants like Tether and Circle are collecting immense revenues—over $10 billion collectively so far in 2024—with a projected market cap exceeding $200 billion.
Yet, despite the staggering numbers, not a single cent of this value flows back to the users who rely on these stablecoins daily.
To Big To Fail
The problem? If these centralized players collapse due to mismanagement, regulation, or financial turmoil, it’s not just their tokens that go down. It’s the entire Web3 infrastructure that’s grown too dependent on them.
In short, stablecoins are now “too big to fail.” This dependence is the biggest vulnerability of an industry built on decentralization.
Usual: Fixing the Weak Link
This is where Usual comes in. Usual is a project that aims to make stablecoins truly decentralized and put the power back into the hands of users.
At the core of Usual are three tokens designed to address this systemic issue while creating new opportunities:
USD0: A decentralized stablecoin backed by real-world assets (RWAs).USD0++: A yield-generating version of USD0, designed for passive income.$USUAL: A governance token that lets holders share in the ecosystem’s revenue through staking.
A Closer Look at USD0
USD0, a stablecoin that eliminates the risks tied to centralized alternatives, is at the heart of Usual's mission. Backed by real-world assets (RWAs) like U.S. Treasury Bills, USD0 is:
Fully Decentralized: No central authority manages the reserves—everything is transparent and governed on-chain.Stable and Reliable: With RWAs maintaining a 1:1 peg, USD0 provides stability without sacrificing decentralization.Perfect for DeFi: Seamlessly integrates into protocols, making it a foundational building block for Web3.
Simply put, USD0 combines traditional finance's trustworthiness with crypto's transparency and resilience.
$USUAL — Earning from Stablecoins Made Simple
Here’s where it got (really) excited when reading through the project's documentation.
Most stablecoin profits have historically gone to centralized entities like Tether and Circle. They earn massive sums from on-chain fees or interest on reserves—and keep it all. And remember, we are talking about huge revenues.
Usual flips the script.
With the $USUAL token, you get a share in the revenue generated by USD0 and USD0++ by staking your tokens.
It’s a way to turn what has always been a one-sided system into a decentralized, community-driven opportunity.
Use Cases — How USUAL Works
The earning potential isn’t the only thing that sets Usual apart. The entire project is designed for a variety of use cases. Let's briefly touch on some of them (one could easily write a whole article about each).
Passive Income: Stake $USUAL to earn your share of the stablecoin revenue stream.DeFi Integration: USD0’s design makes it composable and scalable across protocols, enhancing its utility.A Resilient Stablecoin: USD0++ offers yield generation while maintaining stability, appealing to both institutional and retail users.
In essence, Usual allows the community to profit from what centralized entities have historically monopolized.
Final Thoughts
Stablecoins are the lifeblood of Web3—but their current form is dangerously centralized.
Usual is here to change that.
With USD0, USD0++, and $USUAL, the project offers more than just decentralization. It offers empowerment, transparency, and the chance for everyone to share in the growth of stablecoins.
It’s a bold move, and it might just redefine how we think about the foundation of Web3.
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USUAL is launching on Binance. Here’s everything you need to know:
Farming Period: Users can begin staking BNB and FDUSD for USUAL airdrops starting November 15, 2024, at 00:00 (UTC).Pre-Market Trading: Binance will initiate Pre-Market trading for the USUAL/USDT pair on November 19, 2024, at 10:00 (UTC).Spot Trading: The official spot listing for USUAL will follow, with details to be announced.