Yesterday afternoon, Binance announced that it will launch the 61st project on Launchpool: decentralized stablecoin protocol Usual (token name is USUAL). #新币挖矿&盘前交易USUAL
The activity lasts for 4 days:
08:00 on November 15 (Eastern Time Zone 8) to 07:59 on November 19, 2024 (Eastern Time Zone 8) In addition, pre-market trading will start at 18:00 on November 19 (Eastern Time Zone 8), and there is a high probability that it will be delayed..
Ps: This time it is not TON ecosystem or MEME. It is an innovative stablecoin protocol: Usual. What exactly is this project?
Project Introduction：
Usual is a decentralized legal stablecoin issuer that governs platform resources through the platform token $USUAL. Using multi-chain infrastructure, it integrates RWA assets from real entities such as BlackRock, Ondo, Mountain Protocol, M0, Hashnote, etc., and transforms them into permissionless, on-chain verifiable, and composable stablecoins $USD0.
First explain the concept:
USD0: The first Liquid Deposit Token (LDT) provided by Usual, backed by real-world assets (RWA) at an ultra-short term of 1:1, ensuring its stability and security. At the same time, USD0, as an RWA stablecoin that aggregates various U.S. Treasury tokens, can be minted on Usual in two different ways:
1. Direct RWA deposit: Users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio;
2. Indirect USDC/USDT deposits: Users deposit USDC/USDT into the protocol and receive USD0 at a 1:1 ratio. This indirect method involves third-party collateral providers who provide the necessary RWA collateral. This allows users to obtain USD0 without having to directly handle RWA.
USD0++: An innovative product in the Usual ecosystem, backed by USD0 locked in 4 years, ensuring that capital can be recovered. Allowing users to benefit from the growth and success of the protocol.
Differences from traditional RWA projects:
Unlike traditional RWA projects that are anchored to fiat currencies such as $USDT and $USDC, Usual chooses to anchor to ultra-short-term government bonds and highly liquid assets to decouple from fiat currencies and banking systemic risks.
In short, Usual, as an innovative stablecoin protocol, uses more liquid assets as RWA reserves, which can avoid the systemic risks of traditional stablecoins.
Project Team:
1. Adli Takkal Bataille: Co-founder of Usual
2. Pierre PERSON: Founder and CEO of Usual, former French politician and member of the National Assembly (French Parliament).
Hugo Sallé de Chou: Co-founder and COO of Usual.
4.Andrew Lafortezza: is the head of sales at Usual. He previously served as the head of partnerships at Perpetual Protocol.
Allan Floury, VP of Product at Usual
Project Financing:
The project has raised a total of US$8.5 million, led by IOSG Ventures and Kraken Ventures. The specific financing details are as follows:
1. April 17, 2024: Usual completes US$7 million in financing.
July 9, 2024: Usual goes live on the mainnet.
3. November 6, 2024: Usual completes US$1.5 million in financing.
The project’s token economy:
The total amount of 4 billion is allocated as follows:
Community incentives: 2.58 billion, accounting for 64.50%
Initial airdrop: 340 million, accounting for 8.50%
Binance launchpool: 300 million, accounting for 7.50%
DAO and Ecosystem: 300 million, accounting for 7.50%
Investors and advisors: 227.2 million, 5.68%
Team: 172.8 million, accounting for 4.32%
Liquidity: 80 million, accounting for 2%
About Launchpool:
The initial circulation is 494,600,000 (accounting for 12.37% of the total token supply), of which:
Binance launchpool: 300 million, accounting for 7.50%
First round of airdrop: 170 million, accounting for 4.25%
Liquidity: 24 million, accounting for 0.6%
DAO and Ecosystem: 0.008 billion, accounting for 0.02%
Summary and price estimate of the project:
Influenced by the news of Binance Launchpool, the previously depressed BNB realized an increase, soaring from $623.5 to a maximum of $660.4, an increase of 5.9%. Starting at 8 am today, BNB and FDUSD can participate in kuang mining.
This project is similar to ethena, and the general logic may be that the project party attracts RWA assets to enter, and TVL is directly linked to the project party's income. Almost all the stable currency income of the RWA assets is captured by the project party, and $USUAL is distributed as both the income of USD0++ and the airdrop reward. The project party can use the stable currency income to pull up the coin price. A higher $USUAL coin price will leverage a higher TVL, bringing more income to the project party, thus forming a flywheel. $ENA
The price of $USUAL will be known at 18:00 (ET) on November 19th, but referring to the comparison between ena and the initial circulating chips and TVL, the predicted price is between $0.2 and $0.4. What do you think?