Binance announced that it will launch the 61st project Usual (USUAL) on Launchpool at 18:00 Beijing time on November 19. Users can participate in mining by locking BNB and FDUSD. Usual is a decentralized legal stablecoin issuer that provides multi-chain infrastructure to convert real world assets (RWA) into stablecoin USD0. Users can obtain USD0 through direct or indirect deposits. Usual has completed two rounds of financing with a total amount of US$8.5 million and a total TVL of US$350 million. The total supply of USUAL tokens is 4 billion, of which 90% will be allocated to the community.
Project Introduction
Usual is a secure, decentralized fiat stablecoin issuer that will distribute platform ownership and governance through its platform token USUAL in the future. Usual is a multi-chain infrastructure that brings together the growing tokenized real-world assets (RWA) of BlackRock, Ondo, Mountain Protocol, M0, and Hashnote entities, and transforms them into a permissionless, on-chain verifiable and composable stablecoin USD0.
Usual's mechanism and core selling points
Usual Money is a stablecoin protocol whose core mechanism includes three tokens. The first is USD0, which is a stablecoin issued at a 1:1 ratio with RWA assets as reserves. The second is USD0++, which is a tradable certificate for a 4-year USD0 bond designed by it. The third is Usual, which is its governance token.
We know that the current stablecoin track is divided into three categories according to the direction of evolution. They mainly include:
Efficient medium of exchange: This type of project mainly refers to fiat-backed stablecoins such as USDT and USDC. Their main use value is to connect real-world assets with on-chain assets. Therefore, the focus of these projects is on how to create more liquidity for issued assets, thereby bringing users a better trading experience and increasing adoption.
Anti-censorship: This type of project mainly refers to decentralized stablecoins such as DAI and FRAX, which are collateralized by crypto assets. Their main use value is to provide storage and risk hedging capabilities for funds with high privacy requirements under the premise of anti-censorship. Therefore, the construction focus of these projects is on how to increase the stability of the protocol as much as possible while ensuring the degree of decentralization of the protocol, and to have a stronger fault tolerance in dealing with risks such as bank runs;
Yield-based low-volatility wealth management product certificates: This type of project mainly refers to USDe and other projects, which package the certificate of a low-risk wealth management product with Delta risk neutrality into a stable currency. Their main use value is to capture more income for users and ensure the low volatility of the principal as much as possible. Therefore, the construction center of these projects is how to find more low-risk and high-return investment portfolios.
In the actual evolution of the project, these attributes are intertwined, but usually the core innovation of a project is one of the above three. Usual Money belongs to the third category. Therefore, its main core selling point is to bring benefits to users through USD0. So let's take a look at how Usual Money is designed. When judging a stablecoin project, it is usually analyzed from two dimensions, one is stability, and the other is growth. Products like USD0 usually have relatively strong growth, but are slightly weaker in stability.
The top five projects in the Web3 Top 100 are: Usual, Bless, Pnut, Espresso Systems, and 0G. In addition, Wyden's ranking has improved the most, with an overall ranking increase of 1,080 places. It is reported that RootData has launched the first "Web3 Hot Project Ranking". This popularity ranking helps users capture the real attention pulse and improve the accuracy of users' investment decisions through 4.3 million real user behavior data.
Financing Background
Usual Labs received US$7 million in financing in mid-April this year, led by IOSG Ventures and KrakenVentures, and participated by multiple projects and institutions such as GSR and Mantle Network. Usual Labs officially announced that the funds will be used for the test network work and smart contract auditing of the issuance of stablecoin $USD 0.
On November 7, 2024, the stablecoin protocol Usual completed US$1.5 million in community financing, with participation from The Echonomist, Breed Syndicate and Comfy Capital.
It is worth noting that Usual Labs has also received support from many industry experts including 0xSalazar, apolynya, a well-known researcher in the crypto industry, HighStakesCap, a well-known trader, and the co-founder of Axelar, and has obtained US$75 million in TVL, which is another big step forward for the development of the Usual protocol.
Project development team members and supporters
The project has been launched on Sesame Open Door Exchange on November 15, and Binance has issued an announcement that it will be officially launched on Binance on November 19. So how much potential do you think Usual, a stablecoin, has in the current bull market?
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