The world of decentralized finance (DeFi) continues to evolve, and one of the most anticipated developments in late 2024 is the launch of Usual (USUAL) on Binance Launchpool. As a next-generation, decentralized fiat-backed stablecoin issuer, Usual aims to redefine how value, ownership, and governance are distributed in the crypto ecosystem. With its innovative approach to real-world asset (RWA) integration and profit-sharing mechanisms, USUAL stands out as a transformative project in the stablecoin landscape.
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What Is Usual (USUAL)?
Usual is not just another stablecoin—it’s a multi-chain infrastructure designed to aggregate tokenized real-world assets (RWAs) from leading institutions such as BlackRock, Ondo Finance, Mountain Protocol, M0, and Hashnote. These assets are then transformed into a permissionless, on-chain verifiable, and composable stablecoin known as USD0.
At the heart of Usual’s mission is the redistribution of power and ownership. Unlike traditional centralized stablecoin issuers like Tether or Circle, where profits are privately held, Usual leverages its native $USUAL governance token to ensure that users who contribute to the protocol’s growth also share in its success.
This model mirrors a future where DeFi participants aren’t just users—they’re stakeholders with real influence over risk policies, collateral composition, and liquidity incentives.
Why Usual Matters: Three Key Insights
Usual was built on three foundational observations about the current state of stablecoins and DeFi:
- Profit Concentration: In 2023 alone, Tether and Circle generated over $10 billion in revenue, with valuations exceeding $200 billion. Yet, none of this wealth was shared with the users who helped build their ecosystems.
- Limited RWA Integration: While RWAs like tokenized U.S. Treasury bonds exist, fewer than 5,000 addresses hold them on-chain—highlighting poor integration with broader DeFi applications.
- Misaligned Incentives: Current yield models fail to reward early adopters who take on higher risks. Usual addresses this by offering governance rights and revenue sharing to those who stake early and contribute value.
These insights form the backbone of Usual’s vision: a fairer, more transparent financial system powered by decentralization.
The Vision Behind Usual
Rebuilding Tether On-Chain: Neutrality and Transparency
One of Usual’s boldest goals is to recreate Tether entirely on-chain, but with critical improvements. Instead of being controlled by a centralized entity, the issuance and management of Usual’s stablecoin will be governed by $USUAL token holders.
This means decisions around:
- Risk parameters
- Collateral types
- Liquidity mining strategies
...are all made transparently through decentralized governance.
By removing intermediaries and placing control in the hands of the community, Usual enhances neutrality, auditability, and trust—key pillars for long-term adoption.
Moving Beyond Bank-Linked Reserves
Most fiat-backed stablecoins rely on reserves held in commercial banks. However, this exposes them to systemic risks—most notably demonstrated by the collapse of Silicon Valley Bank (SVB). Traditional fractional reserve banking practices can jeopardize the very stability these stablecoins promise.
Usual eliminates this vulnerability by decoupling from traditional banking systems. Instead of bank deposits, Usual’s collateral is directly tied to short-term government bonds, ensuring higher safety and capital preservation. This prudent approach is further reinforced by strict risk policies and an insurance fund designed to protect against market volatility.
Ending Profit Privatization
Centralized stablecoin issuers have replicated the flawed structures of traditional banking: profits are privatized, while risks are socialized. When things go well, shareholders benefit; when they don’t, users bear the brunt.
Usual flips this model on its head. By redistributing 100% of generated value and control through its governance token, it ensures that every participant has skin in the game. Users who deposit funds or stake assets become co-owners of the protocol’s infrastructure, treasury, and future income streams.
This isn’t just about fairness—it’s about aligning incentives across the entire ecosystem.
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Redefining Ownership and Yield Distribution
While some protocols share a portion of their earnings with users, Usual takes it further. It pools the yields generated from its stablecoin reserves and uses them to fund the protocol. In return, contributors receive $USUAL tokens, granting them:
- Voting rights
- Influence over protocol upgrades
- A share of future revenues
This mechanism does more than distribute income—it redistributes ownership. Early supporters gain significant upside potential, creating powerful incentives for long-term engagement and network effects.
Transparency in token distribution ensures that all stakeholders’ interests remain aligned, fostering a resilient and self-sustaining ecosystem.
Tokenomics of USUAL
Understanding the economic design of $USUAL is crucial for assessing its long-term viability.
- Total Supply: 4,000,000,000 USUAL
- Initial Circulating Supply: 494,600,000 USUAL (12.37% of total supply)
- Launchpool Allocation: 300,000,000 USUAL (7.5% of total supply)
- Smart Contract (Ethereum):
0x430a2712cEFaaC8cb66E9cb29fF267CFcfA38a42
Of the Launchpool rewards:
- 85% (255 million USUAL) allocated to BNB stakers
- 15% (45 million USUAL) allocated to FDUSD stakers
This strategic allocation encourages participation from both native Binance users and those already engaged with fiat-backed stablecoins, broadening Usual’s initial user base.
Frequently Asked Questions (FAQ)
Q: What is the purpose of the $USUAL token?
A: $USUAL serves as the governance and ownership token for the Usual protocol. It allows holders to vote on key decisions, influence risk policies, and earn a share of protocol-generated revenues.
Q: How is Usual different from USDT or USDC?
A: Unlike centralized stablecoins, Usual is fully decentralized and redistributes 100% of its value to users via its governance token. It also avoids exposure to commercial banks by using short-term government bonds as collateral.
Q: Where can I stake $USUAL during the Launchpool event?
A: You can stake BNB or FDUSD on Binance Launchpool starting November 15, 2024, at 08:00 (UTC+8). Rewards will be distributed over four days.
Q: Is pre-market trading available for USUAL?
A: Yes. Binance will offer pre-market trading for USUAL/USDT starting November 19, 2024, at 18:00 (UTC+8), with a personal cap of 40,000 USUAL per user.
Q: What are the risks associated with Usual?
A: While Usual reduces reliance on banks by using government bonds, it remains exposed to macroeconomic factors like interest rate changes and bond market fluctuations. Additionally, as a new protocol, smart contract risk and adoption challenges exist.
Q: Can non-U.S. residents participate in the Launchpool?
A: Participation depends on your jurisdiction. Users should check local regulations before staking or trading.
With its bold vision for decentralization, transparency, and equitable value distribution, Usual (USUAL) represents a paradigm shift in how stablecoins operate. By empowering users as true owners—not just customers—it sets a new standard for what a modern financial infrastructure should look like.
Whether you're a DeFi veteran or new to crypto, watching how Usual evolves could offer valuable insights into the future of money.
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