Usual (USUAL) Latest News
According to the official announcement, Binance will list Usual (USUAL) on Launchpool and Pre-Market.
The Pre-Market will launch USUAL at 2024-11-19 10:00 (UTC). The Launchpool will start at 2024-11-15 00:00 (UTC).
What is Usual (USUAL)?
Usual is a stablecoin protocol that launches USD, a permissionless and fully compliant stablecoin backed 1:1 by real-world assets (RWA), and USUAL, a governance token that allows the community to guide the future development of the network. Usual solves the current stablecoin market problems by redistributing profits to the community and rewarding token holders with the actual income generated by RWA.
Tags: DeFi RWA Stablecoin Protocol
Ecosystem: Ethereum Solana
Founded:2022
Location:France
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Usual (USUAL) project member
Adli Takkal Bataille is the co-founder of Usual and the president of Le Cercle du Coin. He graduated from the University of Bordeaux Montaigne.
Pierre PERSON, founder and CEO of Usual, is a former French politician and member of the National Assembly (French Parliament). He recently served as Vice President of the French President’s political party and led the country’s crypto-asset legislation.
Hugo Sallé de Chou is the co-founder and COO of Usual and a graduate of EDHEC Business School in France.
Andrew Lafortezza is the Head of Sales at Usual and was previously Head of Partnerships at Perpetual Protocol. He graduated from the University of Richmond.
Allan Floury is the Vice President of Product at Usual and graduated from Columbia University in the United States.
Usual (USUAL) financing details
On November 6, RWA stablecoin protocol Usual announced the completion of a new round of financing of US$1.5 million. This round of financing was participated by Comfy Capital, early crypto project investor echo, Breed VC founder Jed Breed, etc. The specific valuation data has not been disclosed yet.
Usual said the project plans to launch a token generation event TGE to support its construction of a USD0 stablecoin backed by real-world assets. The protocol raised $7 million in a strategic round of financing in April this year. Investors at the time included IOSG Ventures, Kraken Ventures, etc. As of now, the total financing has reached $8.5 million.
USD0 Token Introduction
USD0 is the first Liquid Deposit Token (LDT) provided by the Usual platform, which is backed by real-world assets (RWA) at an ultra-short term of 1:1 to ensure its stability and security. USD0 is an RWA stablecoin that aggregates various U.S. Treasury tokens. Users can mint USD0 on Usual in the following two ways:
Direct RWA Deposits：Users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio.
Indirect USDC/USDT deposits：Users deposit USDC/USDT into the protocol and receive USD0 at a 1:1 ratio. This method involves a third-party collateral provider to secure the required RWA collateral. This allows users to obtain USD0 without having to directly handle RWA.
According to the Binance announcement, the Usual (USUAL) token economics are as follows:
The total supply is 4 billion, with an initial circulation of 12.37%, of which the total Launchpool supply is 300,000,000 USUAL (7.5% of the maximum token supply).
Summarize
Usual chose RWA support to redesign the stablecoin USD0 in the stablecoin track supported by fiat currency and algorithm. The stablecoin market has huge room for imagination. It is worth patiently observing how USD0 will perform in the future.
