Usual (USUAL): A New Kind of Secure and Transparent Stablecoins

What is Usual (USUAL)?

Usual (USUAL) is a multi-chain infrastructure designed to transform the financial landscape by creating a decentralized and secure stablecoin. At its core, Usual aggregates tokenized Real-World Assets (RWAs) from prominent institutions such as BlackRock, Ondo, and Hashnote to create USD0, a permissionless, on-chain stablecoin that is verifiable and composable, giving users the ability to engage with real-world value in a decentralized manner.

What sets Usual apart is its focus on redistributing power and ownership. Unlike traditional centralized financial systems where control and profits are concentrated in the hands of a few, Usual aims to provide ownership and governance to the community.

Usual’s model challenges the inequities of traditional finance by ensuring that financial power and profits are shared fairly among participants. The system redistributes value and aligns the interests of users with the growth and success of the protocol, in contrast to centralized banking systems that often privatize profits while socializing losses.

Who Created Usual (USUAL)?

Usual is the product of Usual Labs, a team of driven professionals and visionaries passionate about reshaping the future of decentralized finance. Since its inception in the third quarter of 2022, Usual Labs has worked tirelessly to bring the Usual DAO and its ecosystem to life, blending expertise from traditional finance, cutting-edge DeFi, and the regulatory and political landscapes.

The CEO of Usual Labs is Pierre Person, who brings invaluable experience from his background as a former French Member of Parliament. His political insight and leadership are crucial in navigating the complex landscape of decentralized finance and regulation. He is joined by Adli Takkal Bataille, the DeFi OG and Liquid Fund Manager serving as the DEO, and Hugo Sallé de Chou, the COO, a fintech entrepreneur known for his work in P2P payments with Pumpkin.

Manfred Tourron, the CTO, is a core contributor to Tendermint and Gnoland/Scaleway, providing technical leadership and innovation. Meanwhile, Pete, the CFO, brings over 10 years of experience in quantitative finance from BNP Paribas, ensuring the financial strategy of Usual is robust and secure. Rounding out the leadership team is Allan Floury, the VP of Product, who has a rich background in building on ecosystems like Cosmos and Starknet, playing a pivotal role in the development and implementation of Usual’s products.

What VCs Back Usual (USUAL)?

Usual’s vision is supported by a diverse network of angel investors and venture capital firms who share the protocol's commitment to advancing decentralized finance. Over 150 investors have placed their trust in Usual, bringing a wealth of expertise, resources, and credibility to the project.

VCs that have invested in Usual are Kraken Ventures, LBank Labs, Axelar, IOSG Ventures, flowdesk, etc.

Key investors also include prominent figures from the DeFi and crypto space, such as Michael Egorov, the founder of Curve Finance, and Sam, the founder of Frax Finance. Their backing solidifies Usual's position as a leader in DeFi innovation. Additionally, Charlie, a significant figure in the DefiLlama and Curve ecosystems, has also shown strong support for Usual.

How Usual (USUAL) Works

Usual’s ecosystem centers around two main products: the USD0 stablecoin and the USUAL governance token. Each asset plays a critical role in how Usual operates and aims to serve its users. Together, these assets form the foundation of Usual’s approach to creating a trustworthy and community-governed financial ecosystem.

1. USD0: A New Kind of Stablecoin

USD0, the first Liquid Deposit Token (LDT) offered by Usual, is a fiat-backed stablecoin tied 1:1 to U.S. dollars. Stablecoins are digital assets meant to maintain a stable value, usually by being pegged to a currency like the U.S. dollar. However, unlike some stablecoins, which can sometimes face issues with transparency or security, USD0 is fully backed by Real-World Assets (RWA). This means that each USD0 token is backed by real assets with ultra-short maturities, such as U.S. Treasury Bill tokens, ensuring that it remains stable and secure.

USD0’s unique feature is its backing through Treasury Bill tokens, which are safer and more stable compared to other fiat-backed stablecoins that may rely on traditional bank deposits. This approach makes USD0 a “bankruptcy-remote” asset, meaning it is separate from the risks associated with commercial banks. USD0 is also fully transferable and permissionless, making it easy for DeFi users to integrate and use across different platforms.

Benefits of USD0

● Stability and Trust: USD0 avoids risky practices like fractional reserves, meaning that for every USD0 issued, there is an actual dollar-equivalent asset backing it.

● Enhanced Security: By using Treasury Bills instead of bank-based reserves, USD0 reduces the risks associated with traditional fiat-backed stablecoins, which can be vulnerable to issues in the banking sector.

● Unified Liquidity: USD0 brings together different deposits, providing users with a more efficient and accessible way to manage their assets within the DeFi ecosystem.

● Alternative to USDT/USDC: USD0 offers a transparent, decentralized option for users who want more security and less dependence on commercial banking.

2. USUAL: Usual’s Governance Token

USUAL is Usual’s governance token, designed to give users a say in the future of the platform. In traditional finance, decisions about products and policies are usually made by a small group of executives or board members. However, Usual aims to put these decisions into the hands of its community members, giving them the power to vote on important issues within the platform. This setup aligns with Usual’s community-centered values and allows users to directly impact the direction of the project.

Key Functions of USUAL

● Ownership Rights: USUAL holders have a say in decisions related to the protocol’s infrastructure, collateral policies, treasury management, and revenue distribution. This means users can influence the overall direction and priorities of the Usual platform.

● Staking Rewards: Users who hold USUAL can stake (lock up) their tokens to earn additional USUAL tokens over time. This staking process also unlocks access to exclusive features and services within the platform.

● Value Accrual: USUAL has a deflationary structure, meaning the supply decreases over time through mechanisms like buy-backs. This approach is designed to increase the token’s value and provide long-term benefits to holders.

● Community Distribution: Unlike many tokens where a significant portion goes to insiders or founders, 90% of USUAL is distributed to the community, making it a genuinely community-owned asset.

Usual Goes Live on Bitget

The introduction of USD0 and USUAL is a game-changer for the DeFi space. Stablecoins are critical to DeFi, serving as a bridge between traditional finance and blockchain-based systems. However, existing stablecoins often face issues like a lack of transparency, over-reliance on traditional banking, and governance centralization. With its focus on security, transparency, and community-driven governance, Usual is setting a new standard for stablecoins and DeFi protocols.

We are thrilled to announce that Usual (USUAL) will be listed in the Innovation and DEFI Zone. Check out the details below:

Deposit Available: Opened

Trading Available: 18 December 2024, 11:00 (UTC)

USUAL/USDT

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.