Binance announced that it will launch the 61st project USUAL at 18:00 Beijing time on November 19th and start pre-market trading
Before the mining ends, let’s take a look at the product significance and vision of this project.
Usual makes stablecoins no longer a place to hide private money
You know that stablecoins like Tether or Circle make so much money, but the revenue is actually taken away by the company, and the users get nothing. Usual wants to change the rules of the game. It doesn't want to embezzle the profits like them, but to put everyone's interests on the table and share them equally! Its stablecoin is completely decentralized, which means that everyone can participate in governance and decision-making, and power is not concentrated in the hands of a few people.
Stop relying on banks
Many of the current stablecoins rely on bank reserves, which means that when a bank has problems, the security of the stablecoin will also be threatened. However, Usual has done a remote bankruptcy operation. Its stablecoin does not rely on banks at all, but is collateralized by super-safe assets such as short-term US government bonds, ensuring that everyone's money is safer and will not be implicated by the bank's messy reserve problems.
Stablecoins are everyone’s money, not theirs
Usual is also very interesting. It not only wants to make the profit distribution of stablecoins more fair, but also wants every user to have the opportunity to share these profits. Simply put, if you deposit money in Usual, the profits earned by that money belong not only to the platform, but also to you. Usual uses governance tokens to turn all users into decision makers. Whoever makes money can share. It hopes to let more people, not just users, but us, truly control our own money and profits.
You get what you pay for, join early and you will get big rewards
Usual is also smart in that it provides more opportunities for returns to those who join early. By staking your stablecoins, you can not only earn interest, but also get governance tokens, which will give you more say in the future development of the platform. In short, if you support it early, the returns will be greater, and being part of the platform is like investing and becoming a shareholder of the platform at the same time.
In summary:
Usual is not trying to be a traditional money-making machine, but a fair, transparent, decentralized stablecoin and financial platform. It gives users more control and opportunities to share profits, avoiding some of the opaque and unfair practices of traditional banks and centralized platforms. In short, Usual is about allowing everyone to participate in this financial world, share profits, and make decisions, rather than just being a bystander.
Therefore, if you are interested in stablecoins or DeFi, Usual may be a project worth paying attention to. It is not only innovative, but also solves many pain points in the current market.