JoeJoeLove
@JoeJoeLove
Usual 社区大使｜Defi研究
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"Will USUAL really 'decouple'?"
🤔 Many newcomers are worried about the issue of 'decoupling', coincidentally catching up with the recent FUD about USUAL decoupling across the network, so we need to have a good discussion on this topic.
Everyone is worried about the 'decoupling' in three aspects:
👉 USD0 decouples from other stablecoins (such as USDC/USDT).
👉 The exchange rate of USD0++ decouples from USD0.
👉 The exchange rate fluctuations between USUALx and USUAL.
Before diving deeper, we need to understand the core underlying design of USUAL.
⭐ USD0 is a stablecoin supported by 1:1 collateralized RWA assets ⭐
The collateral assets are currently mainly short-term US Treasury products from Hashnote.
(Everyone can learn about what US Treasury bonds are, short-term US Treasury bonds (T-bills), and what overnight reverse repos (ON RRPs) are, roughly understood as: USUAL is safer than American banks.)
Everyone is worried about the 'decoupling' in three aspects:
👉 USD0 decouples from other stablecoins (such as USDC/USDT).
👉 The exchange rate of USD0++ decouples from USD0.
👉 The exchange rate fluctuations between USUALx and USUAL.
Before diving deeper, we need to understand the core underlying design of USUAL.
⭐ USD0 is a stablecoin supported by 1:1 collateralized RWA assets ⭐
The collateral assets are currently mainly short-term US Treasury products from Hashnote.
(Everyone can learn about what US Treasury bonds are, short-term US Treasury bonds (T-bills), and what overnight reverse repos (ON RRPs) are, roughly understood as: USUAL is safer than American banks.)
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What's the rush? 😅
$USUAL Emergency! Everyone, based on your own situation, set a stop-loss line! Although I am optimistic in the long term, it's also important to be cautious. Trading should be flexible and rational in response.
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The Fantasy Journey of "Web3 Teacher" - USUAL (Part 2)
🤡"Bit Fool" @bitfool1
Platform fans: 114K+
This teacher published his "analysis" on December 21:
1️⃣No ability to expand underlying assets, only relying on Hashnote to provide asset packages
Actual situation:
🤏On December 18, USUAL officially announced cooperation with ethena and BlackRock to expand new RWA collateral: $USDtb;
🤏On December 20, USUAL officially announced cooperation with M^0 to expand new RWA collateral: $USUALM (TVL is close to 30M);
Teacher, you write articles so fast, you don't even check the news three days ago? 🥶
2️⃣The underlying income goes into the dealer's pocket
Actual situation:
The underlying income goes into the DAO treasury and is distributed by community voting.
Isn't this the most decentralized way of income redistribution at the moment?
In addition, by the so-called "banker", do you mean VC or project party?
Do you know that they only have 10% of the shares and they have to lock it for one year?
Do you know that USUAL's airdrop is purely linear and there is no possibility of insider trading?
Teacher, did you spend all your time researching projects to write "novels"?
3️⃣Use users' money to buy Hashnote assets, and the income is taken away by the banker
Actual situation:
Each USD0 corresponds to a 1:1 RWA asset, which is transparent and traceable on the chain. The underlying income goes into the DAO treasury, and your "banker theory" can be put to rest.
4️⃣The cooperation with Ethena is a nesting doll, which has nothing to do with RWA
Actual situation:
USUAL has included the RWA asset $USDtb developed by Ethena and BlackRock as collateral. Teacher Zhu, are you really not afraid that Ethena and BlackRock's legal department will come to your door?
That's all. I can't post more. My eyes are blinded by the light and my breasts are still swollen🤮
I hope that after reading this article, the fans of these teachers can move their fingers to check the basic information and grow into knowledge users.
Even if only one person wakes up and realizes the true face of the "teacher", I will be very happy.
Boycott "teachers" starts with every leek!
Attached is the USD0 collateral address: https://etherscan.io/address/0xdd82875f0840aad58a455a70b88eed9f59cec7c7
(Follow my personal Twitter: https://x.com/TravelToEW)
🤡"Bit Fool" @bitfool1
Platform fans: 114K+
This teacher published his "analysis" on December 21:
1️⃣No ability to expand underlying assets, only relying on Hashnote to provide asset packages
Actual situation:
🤏On December 18, USUAL officially announced cooperation with ethena and BlackRock to expand new RWA collateral: $USDtb;
🤏On December 20, USUAL officially announced cooperation with M^0 to expand new RWA collateral: $USUALM (TVL is close to 30M);
Teacher, you write articles so fast, you don't even check the news three days ago? 🥶
2️⃣The underlying income goes into the dealer's pocket
Actual situation:
The underlying income goes into the DAO treasury and is distributed by community voting.
Isn't this the most decentralized way of income redistribution at the moment?
In addition, by the so-called "banker", do you mean VC or project party?
Do you know that they only have 10% of the shares and they have to lock it for one year?
Do you know that USUAL's airdrop is purely linear and there is no possibility of insider trading?
Teacher, did you spend all your time researching projects to write "novels"?
3️⃣Use users' money to buy Hashnote assets, and the income is taken away by the banker
Actual situation:
Each USD0 corresponds to a 1:1 RWA asset, which is transparent and traceable on the chain. The underlying income goes into the DAO treasury, and your "banker theory" can be put to rest.
4️⃣The cooperation with Ethena is a nesting doll, which has nothing to do with RWA
Actual situation:
USUAL has included the RWA asset $USDtb developed by Ethena and BlackRock as collateral. Teacher Zhu, are you really not afraid that Ethena and BlackRock's legal department will come to your door?
That's all. I can't post more. My eyes are blinded by the light and my breasts are still swollen🤮
I hope that after reading this article, the fans of these teachers can move their fingers to check the basic information and grow into knowledge users.
Even if only one person wakes up and realizes the true face of the "teacher", I will be very happy.
Boycott "teachers" starts with every leek!
Attached is the USD0 collateral address: https://etherscan.io/address/0xdd82875f0840aad58a455a70b88eed9f59cec7c7
(Follow my personal Twitter: https://x.com/TravelToEW)
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The Fantastical Drift of the 'Web3 Teachers' — USUAL Edition (Part 1)
Recently, some web3 'teachers' have been frantically FUDing USUAL, and I find it puzzling. USUAL is such a transparent protocol with such excellent fundamentals; from what angles are they FUDing it?
Looking at the content of these 'teachers', I feel like I'm in a toilet, surrounded by 💩💩💩
Here are two 'teachers' and their 'insights' 🤮🤮🤮:
🤡 'Teacher Zhu Talks Blockchain'
Followers on the platform: 11.9K+, reportedly also has a significant following on Bilibili and WeChat public account, main points:
1️⃣ The USUAL team is not real-name verified.
Actual situation:
The USUAL team has always been verifiable by real names, for detailed information, see: https://rootdata.com/zh/Projects/detail/Usual?k=MTE5NTI%3D…
Teacher, are you part of the Chinese web3 circle? If you had ever heard of Rootdata, you wouldn't come up with such a stupid lie. I suspect you aren’t seriously FUDing; such a poor loophole is laid out like this...
2️⃣ US treasury bonds once dropped 30%. If there is no clearing mechanism, who provides the margin when US treasury bonds depreciate?
Actual situation:
🤏 US treasury bonds dropped 30%?
I don't know where the teacher found this data from a parallel universe. You must be referring to a 30% drop in US treasury bond yields, right? A single word difference makes a world of difference; you know how to play.
US treasury bonds have never dropped below $1 face value. As long as yields don't drop below 0, the face value won't be lower than 1.
🤏 Do dollar-denominated assets backed by US treasury bonds still need margin?
Sorry, I haven’t heard of such operations on Earth.
US treasury bonds are used as collateral for other assets; this is the first time I've heard they need to find a 'guarantor' for themselves.
3️⃣ Cannot stabilize the exchange rate between USD0 and USDC.
Actual situation:
USD0 is a stablecoin backed 1:1 by US treasury bonds, with the exchange rate fluctuation against USDC only between 0.2% to 0.02%.
And yesterday, the exchange rate between USDT and USDC also reached 0.142%.
4️⃣ RWA yields are low, and APY is too high; it's a scam.
Actual situation:
RWA yields are the baseline, amplified through DeFi mechanisms and marketization. Isn't this a normal operation?
You’re already involved in web3 but still trying to apply web2 models rigidly?
The high initial APY is due to the low supply; this is known as the 'head mining effect.'
The teacher shouts scam after looking at the data but refuses to do the math; haven't you heard of the term 'head mining'?
⬇️⬇️⬇️ Please go to the personal homepage to see the second part — Bit Fool Teacher
(Follow personal Twitter: https://x.com/TravelToEW)
Recently, some web3 'teachers' have been frantically FUDing USUAL, and I find it puzzling. USUAL is such a transparent protocol with such excellent fundamentals; from what angles are they FUDing it?
Looking at the content of these 'teachers', I feel like I'm in a toilet, surrounded by 💩💩💩
Here are two 'teachers' and their 'insights' 🤮🤮🤮:
🤡 'Teacher Zhu Talks Blockchain'
Followers on the platform: 11.9K+, reportedly also has a significant following on Bilibili and WeChat public account, main points:
1️⃣ The USUAL team is not real-name verified.
Actual situation:
The USUAL team has always been verifiable by real names, for detailed information, see: https://rootdata.com/zh/Projects/detail/Usual?k=MTE5NTI%3D…
Teacher, are you part of the Chinese web3 circle? If you had ever heard of Rootdata, you wouldn't come up with such a stupid lie. I suspect you aren’t seriously FUDing; such a poor loophole is laid out like this...
2️⃣ US treasury bonds once dropped 30%. If there is no clearing mechanism, who provides the margin when US treasury bonds depreciate?
Actual situation:
🤏 US treasury bonds dropped 30%?
I don't know where the teacher found this data from a parallel universe. You must be referring to a 30% drop in US treasury bond yields, right? A single word difference makes a world of difference; you know how to play.
US treasury bonds have never dropped below $1 face value. As long as yields don't drop below 0, the face value won't be lower than 1.
🤏 Do dollar-denominated assets backed by US treasury bonds still need margin?
Sorry, I haven’t heard of such operations on Earth.
US treasury bonds are used as collateral for other assets; this is the first time I've heard they need to find a 'guarantor' for themselves.
3️⃣ Cannot stabilize the exchange rate between USD0 and USDC.
Actual situation:
USD0 is a stablecoin backed 1:1 by US treasury bonds, with the exchange rate fluctuation against USDC only between 0.2% to 0.02%.
And yesterday, the exchange rate between USDT and USDC also reached 0.142%.
4️⃣ RWA yields are low, and APY is too high; it's a scam.
Actual situation:
RWA yields are the baseline, amplified through DeFi mechanisms and marketization. Isn't this a normal operation?
You’re already involved in web3 but still trying to apply web2 models rigidly?
The high initial APY is due to the low supply; this is known as the 'head mining effect.'
The teacher shouts scam after looking at the data but refuses to do the math; haven't you heard of the term 'head mining'?
⬇️⬇️⬇️ Please go to the personal homepage to see the second part — Bit Fool Teacher
(Follow personal Twitter: https://x.com/TravelToEW)
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You really can make things up😁
“““10,000 pieces $USUAL Daily earnings 6,038.4 pieces
The primary mine is so powerful, five to six times in ten days, the rhythm is to earn a lot, tonight at 19:00 the withdrawal will be open, want to give it a try?””
🙃 usual staking debuff
1. Staking requires at least seven days, and withdrawing will incur a 10% deduction of the coins.
2. Rewards are calculated based on a twenty-four-hour cycle, the more people stake, the lower the earnings.
As the annualized rate decreases, the number of stakers decreases, and the coins in staking flow out, within three days, I will see the waterfall of usual 🤪
#USUAL现货即将上线 #山寨季何时到来？
The primary mine is so powerful, five to six times in ten days, the rhythm is to earn a lot, tonight at 19:00 the withdrawal will be open, want to give it a try?””
🙃 usual staking debuff
1. Staking requires at least seven days, and withdrawing will incur a 10% deduction of the coins.
2. Rewards are calculated based on a twenty-four-hour cycle, the more people stake, the lower the earnings.
As the annualized rate decreases, the number of stakers decreases, and the coins in staking flow out, within three days, I will see the waterfall of usual 🤪
#USUAL现货即将上线 #山寨季何时到来？
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While opening spot trading, on-chain staking will also be initiated.
Quoted content has been removed
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Statement on USUAL Token Supply Situation
— By USUAL BD Leader Grandma:
The total minted amount of the token and the maximum supply are completely different figures.
📍 The total supply at launch is not 4 billion!
📍 We have contacted the Binance team to change their announcement.
✅ The total minted amount of $USUAL can be seen on the blockchain for the most accurate number, which is currently about 340 million https://etherscan.io/token/0xC4441c2BE5d8fA8126822B9929CA0b81Ea0DE38E…
✅ The forecasted total supply of tokens for the next four years is 4 billion, please note, this is the maximum total for the next four years.
✅ @binance
The pre-market circulation on Binance is 7.5%, which is 300 million $USUAL , the excess is the minted but not circulated part.
✅ The initial circulation after the Binance launch and airdrop will be around 12.37% (including pre-market on Binance + the part that is not locked in the community). Additionally: the community airdrop amount is 8.5%, of which part will be locked.
These figures will not change at launch and during the airdrop, please spread the word about the correct data.
Invest rationally, for more information, feel free to join the Usual Chinese Telegram group to get the latest updates to help you DYOR: @usual_asia
— By USUAL BD Leader Grandma:
The total minted amount of the token and the maximum supply are completely different figures.
📍 The total supply at launch is not 4 billion!
📍 We have contacted the Binance team to change their announcement.
✅ The total minted amount of $USUAL can be seen on the blockchain for the most accurate number, which is currently about 340 million https://etherscan.io/token/0xC4441c2BE5d8fA8126822B9929CA0b81Ea0DE38E…
✅ The forecasted total supply of tokens for the next four years is 4 billion, please note, this is the maximum total for the next four years.
✅ @binance
The pre-market circulation on Binance is 7.5%, which is 300 million $USUAL , the excess is the minted but not circulated part.
✅ The initial circulation after the Binance launch and airdrop will be around 12.37% (including pre-market on Binance + the part that is not locked in the community). Additionally: the community airdrop amount is 8.5%, of which part will be locked.
These figures will not change at launch and during the airdrop, please spread the word about the correct data.
Invest rationally, for more information, feel free to join the Usual Chinese Telegram group to get the latest updates to help you DYOR: @usual_asia
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Instead of shorting during this free time, you're here talking trash...
In a few days, the $USUAL will be short, and there are hundreds of millions of coins ready to be dumped. Can you handle it? The depth is so poor that you might be stuck for a lifetime. Every day coins mined will be dumped, and currencies like this are crashing badly. The circulating market value plus the airdrop is already five to six hundred million dollars, this project is not worth this price now #重大空投观察 #加密市场回调 $ETH $BTC
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USUAL New User Onboarding Guide (Part 2)
4️⃣ Earnings Calculation/Distribution/View/Claim
The APY earnings data for each strategy marked on the official website is based on the compound interest calculation results at the current Binance price;
Calculate $Usual earnings based on holdings and time;
Rewards are distributed once every 24 hours, at 4 AM UTC+8;
The “Pending Rewards” displayed in the upper left corner of the Earn page on the official website indicates the $Usual earnings that have accumulated but have not yet been claimed;
Earnings have a 7-day “confirmation period,” and can be freely claimed after 7 days (the reward from Day 1 can be claimed on Day 8, the reward from Day 2 can be claimed on Day 9...)
5️⃣ Other Explanations
💯 Community-based Token
90% of the $Usual tokens belong to the community, and 10% belong to the team + investors
💯 About USD0++ Redemption
USD0++ redemption for USD0 has four methods:
Method 1 Fee Redemption: Pay a small unstake fee for a 1:1 redemption (official website Unstake function, closing time to be determined)
Method 2 Burn Redemption: Burn a small amount of $Usual tokens for a 1:1 redemption (function opening time to be determined)
Method 3 Price Floor Redemption: Users can choose to redeem at the price floor without any additional costs (opening time to be determined)
Method 4 Maturity Redemption: 1:1 redemption upon maturity after 4 years
🌹 Additionally, the official provides generous rewards for USD0/USD0++ LP to enhance depth and reduce user swap slippage in third-party DEXs
💯 About Inflation
In the token economics of USUAL, $Usual is designed as an anti-inflation token, specifically reflected in:
As TVL grows, the minting rate of $Usual tokens will decrease, thus curbing inflation, highlighting scarcity, and boosting token value
💯 Safe and Transparent Collateral Mechanism
View collateral: https://etherscan.io/address/0xdd82875f0840aad58a455a70b88eed9f59cec7c7
4️⃣ Earnings Calculation/Distribution/View/Claim
The APY earnings data for each strategy marked on the official website is based on the compound interest calculation results at the current Binance price;
Calculate $Usual earnings based on holdings and time;
Rewards are distributed once every 24 hours, at 4 AM UTC+8;
The “Pending Rewards” displayed in the upper left corner of the Earn page on the official website indicates the $Usual earnings that have accumulated but have not yet been claimed;
Earnings have a 7-day “confirmation period,” and can be freely claimed after 7 days (the reward from Day 1 can be claimed on Day 8, the reward from Day 2 can be claimed on Day 9...)
5️⃣ Other Explanations
💯 Community-based Token
90% of the $Usual tokens belong to the community, and 10% belong to the team + investors
💯 About USD0++ Redemption
USD0++ redemption for USD0 has four methods:
Method 1 Fee Redemption: Pay a small unstake fee for a 1:1 redemption (official website Unstake function, closing time to be determined)
Method 2 Burn Redemption: Burn a small amount of $Usual tokens for a 1:1 redemption (function opening time to be determined)
Method 3 Price Floor Redemption: Users can choose to redeem at the price floor without any additional costs (opening time to be determined)
Method 4 Maturity Redemption: 1:1 redemption upon maturity after 4 years
🌹 Additionally, the official provides generous rewards for USD0/USD0++ LP to enhance depth and reduce user swap slippage in third-party DEXs
💯 About Inflation
In the token economics of USUAL, $Usual is designed as an anti-inflation token, specifically reflected in:
As TVL grows, the minting rate of $Usual tokens will decrease, thus curbing inflation, highlighting scarcity, and boosting token value
💯 Safe and Transparent Collateral Mechanism
View collateral: https://etherscan.io/address/0xdd82875f0840aad58a455a70b88eed9f59cec7c7
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USUAL Newcomer Onboarding Guide (Chinese)
Continuing from the previous text,
3️⃣ Other Earning Strategies
👉 Provide LP liquidity to earn $Usual token rewards🔥
Method One: Provide USD0/USD0++ LP Enjoy 10.5% of total $Usual minting
Method Two: Provide USD0/USDC LP Enjoy 2.5% of total $Usual minting
Method Three: Provide USUAL/USD0 LP Enjoy 2% of total $Usual minting
Tips:
Currently, you can provide USD0/USD0++ and USD0/USDC two types of LP in Curve
You can provide USD0/USD0++ LP in Morpho
👉 Pendle Related Strategies🔥
Method One: Buy and hold YT-USD0++: Leverage USD0++ to earn $Usual (principal returns to 0 at maturity)
Method Two: Buy and hold PT-USD0++: Hold until maturity to earn fixed APY (maturity returns USD0++, no $Usual rewards)
Method Three: Buy and hold LP-USD0++: Earn Pendle+$Usual rewards (please note market volatility risks, turning on KEEP YT Mode is more suitable for beginners)
🌹 Related Strategies
You can also deposit PT-USD0++ and LP-USD0++ into other protocols like Equilibria, Pendle, Morpho, etc., to earn additional rewards
(This is just a strategy introduction, please control your own risks)
👉 USDC Deposits
Deposit USDC in Morpho to earn APY returns provided by Morpho (no $Usual rewards)
Continuing from the previous text,
3️⃣ Other Earning Strategies
👉 Provide LP liquidity to earn $Usual token rewards🔥
Method One: Provide USD0/USD0++ LP Enjoy 10.5% of total $Usual minting
Method Two: Provide USD0/USDC LP Enjoy 2.5% of total $Usual minting
Method Three: Provide USUAL/USD0 LP Enjoy 2% of total $Usual minting
Tips:
Currently, you can provide USD0/USD0++ and USD0/USDC two types of LP in Curve
You can provide USD0/USD0++ LP in Morpho
👉 Pendle Related Strategies🔥
Method One: Buy and hold YT-USD0++: Leverage USD0++ to earn $Usual (principal returns to 0 at maturity)
Method Two: Buy and hold PT-USD0++: Hold until maturity to earn fixed APY (maturity returns USD0++, no $Usual rewards)
Method Three: Buy and hold LP-USD0++: Earn Pendle+$Usual rewards (please note market volatility risks, turning on KEEP YT Mode is more suitable for beginners)
🌹 Related Strategies
You can also deposit PT-USD0++ and LP-USD0++ into other protocols like Equilibria, Pendle, Morpho, etc., to earn additional rewards
(This is just a strategy introduction, please control your own risks)
👉 USDC Deposits
Deposit USDC in Morpho to earn APY returns provided by Morpho (no $Usual rewards)
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USUAL Newbie Guide (Part 1)
After Usual enters the "income discovery" stage, users can earn daily income through dozens of strategies
(such as holding USD0++, Pendle YT, staking $Usual, etc., which are listed in detail on the Earn page of the official website)
This post will introduce basic content such as income strategies and income viewing/collection to newcomers
1️⃣ Income strategy: holding USD0++
That is, holding $USD0++ tokens in the wallet (generating the same efficiency income regardless of the source)
🔥Income: Automatically earn $Usual token rewards after holding (enjoy 45% of the total $Usual casting)
This strategy is currently the most basic and popular income strategy. Get $USD0++ Here are the methods:
♥️Prepare in advance: Hold mainstream assets such as USDC/USDT/ETH in the Ethereum mainnet of the on-chain wallet (USDC is recommended)
👉Method 1 Official website Swap
Step 1: Open the official website Swap page https://app.usual.money/swap?action=swap
Step 2: Select token (the target token is USD0 by default, you need to click it, and select USD0++ in the pop-up menu)
Step 3: Check the preview information and perform the Swap operation
👉Method 2 Third-party DEX Swap
You can buy $USD0++ in third-party DEXs such as Curve and OKx wallet. Curve is recommended (sufficient liquidity and low wear)
Take Curve as an example: Open Curve official website: curve.fi ➡️Select token ➡️Check the preview information ➡️Perform Swap operation
2️⃣ Staking $Usual token strategy
It is expected to be launched at the same time as the spot in mid-December $Usual on-chain staking function
🔥Benefits include:
Earn $Usual token rewards (enjoy 10% of the total $Usual minting)
Earn 33% burning redemption fees (burn $Usual: USD0++ ➡️USD0)
DAO governance rights
After Usual enters the "income discovery" stage, users can earn daily income through dozens of strategies
(such as holding USD0++, Pendle YT, staking $Usual, etc., which are listed in detail on the Earn page of the official website)
This post will introduce basic content such as income strategies and income viewing/collection to newcomers
1️⃣ Income strategy: holding USD0++
That is, holding $USD0++ tokens in the wallet (generating the same efficiency income regardless of the source)
🔥Income: Automatically earn $Usual token rewards after holding (enjoy 45% of the total $Usual casting)
This strategy is currently the most basic and popular income strategy. Get $USD0++ Here are the methods:
♥️Prepare in advance: Hold mainstream assets such as USDC/USDT/ETH in the Ethereum mainnet of the on-chain wallet (USDC is recommended)
👉Method 1 Official website Swap
Step 1: Open the official website Swap page https://app.usual.money/swap?action=swap
Step 2: Select token (the target token is USD0 by default, you need to click it, and select USD0++ in the pop-up menu)
Step 3: Check the preview information and perform the Swap operation
👉Method 2 Third-party DEX Swap
You can buy $USD0++ in third-party DEXs such as Curve and OKx wallet. Curve is recommended (sufficient liquidity and low wear)
Take Curve as an example: Open Curve official website: curve.fi ➡️Select token ➡️Check the preview information ➡️Perform Swap operation
2️⃣ Staking $Usual token strategy
It is expected to be launched at the same time as the spot in mid-December $Usual on-chain staking function
🔥Benefits include:
Earn $Usual token rewards (enjoy 10% of the total $Usual minting)
Earn 33% burning redemption fees (burn $Usual: USD0++ ➡️USD0)
DAO governance rights
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If you have questions about the Usual protocol, you can reply to me to ask.
Labrin_quant_sheep
--
$USUAL
Here comes Aloha again, go learn about this protocol quickly
Protocol for 10 days, TVL increased by 200M
nfa dyor
Here comes Aloha again, go learn about this protocol quickly
Protocol for 10 days, TVL increased by 200M
nfa dyor
See original
Asymmetric Comparison: In-depth Analysis of Usual and Luna
As the Usual protocol enters the【Yield Discovery】stage, the ultra-high APY returns have amazed countless DeFi players, with the protocol's TVL increasing by over 70M in just 7 days.
This has also led to new users' concerns, with some drawing parallels to the high-yield stablecoin black swan Luna, worrying that Usual might carry similar risks.
Let's analyze this in depth ⬇️ ⬇️ ⬇️
Will Usual repeat Luna's fate?
First, the answer: No. The analysis process is as follows:
⭐ First, although both belong to the stablecoin sector, it's essential to distinguish clearly:
The $USD0 issued by Usual is a stablecoin supported by 1:1 RWA real assets, while Luna's $UST is an "algorithmic stablecoin." The two have fundamental differences, and forcing a comparison between them is quite unfair and asymmetric.
⭐ Secondly, why did Luna collapse?
In the Luna protocol, destroying an amount of $Luna worth 1 dollar would mint 1 $UST, and vice versa, the effect is reversed.
This creates the logic of the $UST algorithmic stablecoin, where "the left foot supports the value of the right foot." There exists a significant hidden danger: $Luna must have value support; otherwise, when faced with collective FUD moments, both tokens will collapse.
⭐ Does Luna have value support?
At least initially, it did not. Later, the Luna Foundation purchased assets like BTC as value reserves, but this was far from sufficient compared to the circulating market value of $Luna.
Then, the black swan appeared, Luna faced FUD, and both tokens spiraled into collapse.
⭐ Why won’t Usual repeat Luna's fate?
The answer lies in: $USD0 is supported by 1:1 RWA real assets (short-term US Treasuries). No matter how much FUD occurs, it won't lead to a collapse because there are US Treasuries as a safety net, which is one of the charms of the RWA sector.
As for why the return given by $USUAL is so high, we'll break it down next time~
As the Usual protocol enters the【Yield Discovery】stage, the ultra-high APY returns have amazed countless DeFi players, with the protocol's TVL increasing by over 70M in just 7 days.
This has also led to new users' concerns, with some drawing parallels to the high-yield stablecoin black swan Luna, worrying that Usual might carry similar risks.
Let's analyze this in depth ⬇️ ⬇️ ⬇️
Will Usual repeat Luna's fate?
First, the answer: No. The analysis process is as follows:
⭐ First, although both belong to the stablecoin sector, it's essential to distinguish clearly:
The $USD0 issued by Usual is a stablecoin supported by 1:1 RWA real assets, while Luna's $UST is an "algorithmic stablecoin." The two have fundamental differences, and forcing a comparison between them is quite unfair and asymmetric.
⭐ Secondly, why did Luna collapse?
In the Luna protocol, destroying an amount of $Luna worth 1 dollar would mint 1 $UST, and vice versa, the effect is reversed.
This creates the logic of the $UST algorithmic stablecoin, where "the left foot supports the value of the right foot." There exists a significant hidden danger: $Luna must have value support; otherwise, when faced with collective FUD moments, both tokens will collapse.
⭐ Does Luna have value support?
At least initially, it did not. Later, the Luna Foundation purchased assets like BTC as value reserves, but this was far from sufficient compared to the circulating market value of $Luna.
Then, the black swan appeared, Luna faced FUD, and both tokens spiraled into collapse.
⭐ Why won’t Usual repeat Luna's fate?
The answer lies in: $USD0 is supported by 1:1 RWA real assets (short-term US Treasuries). No matter how much FUD occurs, it won't lead to a collapse because there are US Treasuries as a safety net, which is one of the charms of the RWA sector.
As for why the return given by $USUAL is so high, we'll break it down next time~