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Source: Usual; Compilation: Deng Tong, Bitchain Vision
GM Usual Community!
Now we’re halfway through the Pills campaign and are quickly approaching the highly anticipated TGE.As centralized players such as Tether and Circle surpass traditional financial giants such as BlackRock, Usual remains committed to redistributing billions of dollars in value created by users—returning them to users themselves.
Since its launch on July 10, 2024, we have achieved remarkable milestones together despite the challenges of the bear market.Within just two months, Usual’s TVL has reached $225 million, ranking among the top 15 stablecoins – a testament to the power and vision of our community.
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The fastest-growing fiat currencies on Ethereum this summer support stablecoins and the top five fiat currencies support stablecoins.
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Usual Protocol expects annualized revenue to reach $10 million, ranking among the 40 most profitable crypto projects.
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Fiatcoin supported stablecoins ranked fifth in the past 90 days, with transaction volume of US$1.18 billion.
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The second-ranked fiat currency on Curve supports stablecoin pools.
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Usual is the number one fixed income vault on Pendle, and has the second largest liquidity.
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The location of the first USDC vault on Morpho, which provides top-notch earnings with deposits of over $50 million, is the largest vault after Maker.
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The number of holders (12k) is twice that of the entire RWA market.Although the market slowed this summer, the Usual team didn’t have a break.We have been working on preparing a range of integrations and new features, all of which will end the pre-release phase and release Usual v1 and TGE.
At Usual Labs, we are committed to staying completely transparent as we explore the future of the protocol.Below, you will find key updates about our progress and future developments, including:
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$USUAL staking functionality, fair distribution and Pills activity airdrop
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USD0++ features and 1:1 redemption
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USD0++ Earnings and New Collateral Partnerships
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Revenue management and metrology systems
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Usual War and Future Synthetic Coins
As we continue to work hard to be the most resilient, neutral and sustainable fiat-backed stablecoin in DeFi, we remain focused on providing real value to our users.
Here are our achievements so far and what we plan to follow!
Roadmap
With the pre-release phase coming to an end, Usual has cemented its position in the DeFi ecosystem, ensuring integration with major protocols such as Curve, Morpho and Pendle.Usual is now fully connected to DeFi, ranking among the top protocols in the field.
Over the next two months, we will continue to establish partnerships with the new agreements to further enhance the composability of your Usual assets.Several exciting partnerships are about to be announced to expand the utility of Usual assets across multiple chains to unlock more possibilities for our users.
The pre-release phase will end around November 15 with the Pills event.At this time, Usual’s entire mechanism will operate in full swing, bringing the protocol into a mature stage.
TGE Roadmap
USUAL | Governance Tokens
$USUAL is not just a governance token, it also represents ownership of protocol infrastructure and revenue.It provides a unique way for the community to participate in protocol governance and success.90% of $USUAL will be allocated to the community, and only 10% will be allocated to insiders (teams, consultants, investors).This distribution structure protects users from future dilutions and promotes equitable, sustainable and long-term ecosystems.
The issuance of $USUAL is directly related to the TVL and revenue of the agreement.As the protocol evolves, fewer tokens are issued, creating scarcity, which helps increase the value of $USUAL and reward long-term holders.
The main features of TGE
TGE and Listing (Mid November 2024)
$USUAL TGE is expected to be around mid-November 2024.USD0++ holders will be able to claim their daily earnings in the form of $USUAL.Shortly after TGE, the exchange will provide liquidity.More details about TGE will be shared in early November 2024.
$USUAL Airdrop
Airdrops will reward participants from the pre-release stage based on the number of Pills held by the participant.Pills holders will collectively receive 7.5% of the total $USUAL supply.More information about airdrops will be released in early October 2024.
$USUAL staking module
Starting with TGE, $USUAL holders can stake their tokens as $USUALx to unlock future governance rights.The staker will also receive 10% of all $USUALs issued by the agreement in the future.This staking mechanism incentivizes long-term holding by providing additional exposure to the growth of the agreement.
Upcoming features in the first quarter of 2025
Governance mechanism:
Usual is a decentralized protocol.As it continues to evolve, $USUAL holders will gain control over key decisions such as risk policies and the introduction of new synthetic assets.
Provide liquidity incentives through meters:
Usual will introduce a metering mechanism that enables the community to effectively direct liquidity where it is needed most.
Fund Management
In the future, revenue from the agreement will be managed by $USUAL holders.The holder will have the right to decide on the allocation and management of funds.
Qualified collateral and Usual war
In the pre-release phase, Usual is backed by Hashnote $USYC, ensuring full collateral through overnight repos.In the future, $USUAL holders will have the right to decide on collateral allocations to comply with the agreement’s risk policy.
USD0++ | Mortgage and Savings
USD0++ Introduction: USD0++ is the pledged version of the Usual stablecoin USD0.By locking USD0 to USD0++, holders can support the sustainability of DAO’s future cash flow and achieve fair distribution of $USUAL tokens.Following the expansion phase before launch, USD0++ will become a key collateral asset in the lending market, permanent DEX, centralized exchanges (CEXs) and fund management tools, providing returns above risk-free interest rates.
Through its debt-taking mechanism, USD0++ is fully composable and efficient in the DeFi protocol, providing an innovative approach to the allocation of value across the ecosystem.
The main functions of TGE
TGE’s 1:1 Redemption Guarantee
To ensure liquidity stability and maintain confidence in the agreement, USD0++ holders will be able to exchange their USD0++ for USD0 at a 1:1 ratio during the TGE period.This feature ensures a smooth transition and consolidates trust in the protocol value allocation mechanism.
USD0++ Revenue
After the Pills event ends, USD0++ holders will begin to receive rewards in the form of $USUAL tokens.These rewards will be collected daily through the agreement dApp.
DeFi and CeFi collateral integration
USD0++ has been integrated with multiple DeFi protocols.The Usual protocol is committed to ensuring that USD0++ is a key collateral asset on DeFi and CeFi platforms.
Features for the first quarter of 2025
Basic Interest Guarantee (BIG) Mechanism
The BIG mechanism allows USD0++ holders to arbitrate between alpha gains paid in $USUAL and minimum gains guaranteed by the underlying collateral.This ensures that holders can always get a comparable gain to the market’s risk-free interest rate, providing safety nets and additional flexibility.
Multiple term options
Usual will launch various USD0++ with different deadlines, allowing users to adjust the deadline for locking USD0 according to their specific needs.
Price Stable Module (PSM) and Unbinding Functions
The price stability module and unbinding period will allow users to unlock their USD0++ bonds based on the parameters related to $USUAL, ensuring stable price and proper liquidity management.
USD0 | Counterparties and payment methods
USD0 is a stablecoin of the Usual protocol designed to be safer than USDC and USDT by avoiding exposure to partial reserves from traditional banks.It provides full collateral transparency, allowing anyone to verify their support in real time.In addition, USD0 also includes an insurance mechanism to prevent abnormal market events and ensure long-term stability.
Since the beginning of the pre-release phase, Usual has focused on optimizing USD0’s liquidity, positioning it as the primary payment and transaction tool in its ecosystem.Major integration with major ecosystem partners will be announced in the coming weeks to further enhance their use cases and adoption.
The main features of TGE
DeFi cross-chain integration and listing
USD0 will achieve cross-chain compatibility in early October 2024, allowing seamless use of USD0, USD0++, and the upcoming $USUAL on major EVM-compatible chains.The official listing of USD0 on major platforms will be announced in November 2024.
Key Partnerships
Usual is preparing to announce key partnerships with TradFi and Real World Asset (RWA) players to increase transparency and diversify USD0 collateral support.Please continue to pay attention to further updates to these collaborations.
Second quarter of 2025
New synthetic assets expansion
In the second quarter of 2025, Usual will expand its product range beyond USD0, consolidating its role as a decentralized banking agreement between Tether and Maker.While USD0 is the stablecoin for the protocol, Usual aims to introduce new synthetic assets built on the same principles, but adds a basis for directionality and encryption support.These new products will enhance flexibility and expand the financial instruments available in the Usual ecosystem.
The upcoming synthetic assets will leverage the protocol’s infrastructure to provide users with innovative ways to interact with digital assets, driving further adoption and practicality in the DeFi and TradFi sectors.
