Deep Dive
1. Lock & Boost Staking (7 July 2025)
Overview: Usual introduced UIP-9, a redesigned staking system requiring users to lock $USUALx (staking derivative) for 1–12 months to earn boosted USD0 rewards.
The update ties rewards to commitment: 1-month locks grant 1× yields, while 12-month locks offer 8× multipliers. This aims to reduce sell pressure by incentivizing long-term holding. Smart contracts automatically distribute 30% of protocol revenue weekly to lockers, replacing the previous flat-rate model.
What this means: This is bullish for USUAL because longer lockups could stabilize prices by reducing circulating supply. However, shorter-term traders might face reduced flexibility. (Source)
2. Security Patch Post-Hack (28 May 2025)
Overview: A multi-chain flash loan attack targeting Usual’s stablecoin contracts was intercepted by BlockSec’s Phalcon system, prompting emergency patches.
The exploit attempted to manipulate collateral ratios across Ethereum and Polygon. Post-incident, Usual paused operations for 48 hours to deploy fixes, including stricter oracle validations and cross-chain slippage controls. No funds were lost, but the event highlighted risks in complex DeFi architectures.
What this means: This is neutral for USUAL. While the swift response showcases improved security infrastructure, the breach underscores lingering smart contract risks in multi-chain systems. (Source)
3. $16M Bug Bounty Launch (2 April 2025)
Overview: Usual partnered with Sherlock to launch crypto’s largest bug bounty program, offering up to $16M for critical vulnerabilities.
The program specifically targets flaws that could cause permanent fund loss or freezing. It follows 20 prior audits and a $209K public audit contest. At launch, Usual had $880M TVL, making it a high-value target for white-hat hackers.
What this means: This is bullish for USUAL because large bounties attract top-tier auditors, reducing long-term exploit risks. However, the high reward ceiling signals the protocol’s complexity. (Source)
Conclusion
Usual is prioritizing both user incentives (via locked staking) and enterprise-grade security (through bounties and rapid patches). The protocol’s response to May’s near-miss exploit demonstrates evolving defensive capabilities, while UIP-9 aligns holder rewards with long-term growth. How will these updates impact USUAL’s ability to attract institutional stablecoin liquidity in 2026?