Deep Dive
1. Finalize USUAL STAR Sunsetting (Early 2026)
Overview: A key decentralization step involves sunsetting the USUAL STAR token, which was issued to early investors. Its associated rights are intended to conclude at maturity, simplifying the governance structure so that authority rests solely with the USUAL token. This move aims to reduce complexity and align all economic and governance rights under a single token (Usual Blog).
What this means: This is bullish for USUAL because it streamlines value accrual and voting power into one asset, potentially increasing its utility and demand from governance participants.
2. Transfer Labs Assets to DAO (Early 2026)
Overview: To advance decentralization, assets and intellectual property developed by the core team (the Labs) using DAO resources will be transferred into the direct ownership of the Usual DAO. This formalizes the DAO as the owner of the protocol's core infrastructure, clarifying the separation between the builder (Labs) and the owner (DAO) (Usual Blog).
What this means: This is bullish for USUAL as it strengthens the protocol's credible neutrality and community ownership, reducing key-person risk and potentially attracting more institutional trust and capital.
3. Consolidate Under USUAL v2 Vision (2026)
Overview: The long-term vision, often referred to as USUAL v2, focuses on consolidating the product lineup into a coherent system. This includes a clarified USD stablecoin suite (USD0 for cash, USD0a for delta-neutral yield, bUSD0 for bonds), the expansion of multi-currency assets like EUR0, and the activation of FX rails for seamless cross-currency swaps. The goal is to build a scalable yield infrastructure that relies more on utility than incentives (Usual Blog).
What this means: This is neutral-to-bullish for USUAL; successful execution could significantly expand Total Value Locked (TVL) and protocol revenues, which fuel buybacks and staker rewards. However, the timeline for full rollout carries execution and market adoption risks.
Conclusion
Usual's roadmap is pivoting from bootstrapping to a phase of governance simplification and product consolidation, aiming to cement USUAL as the singular vessel for value and control in its ecosystem. Will the shift to a fully DAO-owned infrastructure attract the deeper liquidity needed to scale its multi-currency vision?