What is Usual (USUAL)?

Deep Dive

1. Core Stablecoin System & RWA Backing

Usual Protocol's primary function is to issue permissionless, transparent stablecoins. Its flagship asset, USD0, is backed 1:1 by tokenized U.S. Treasury Bills from institutional providers like BlackRock and Ondo Finance. This real-world asset (RWA) collateralization aims to provide a stable value anchor and full reserve verifiability, addressing common critiques of centralized stablecoins. The protocol has also expanded to euros, launching EUR0 backed by European sovereign bonds and integrating virtual IBANs for seamless SEPA transfers, simplifying fiat on- and off-ramps for European users.

2. USUAL Token: Governance & Aligned Incentives

The USUAL token is the economic and governance heart of the protocol. Holders vote on key parameters, treasury management, and upgrades. Uniquely, the protocol directly shares up to 90% of its generated revenue with the community. According to its official communications, up to 70% of revenue is used for buybacks, while 30% is paid weekly in USD0 to users who lock their USUAL tokens for set periods (1 to 12 months), creating a yield mechanism tied to protocol performance.

3. Security & Transparency Focus

The protocol emphasizes security and operational integrity. It has undergone multiple audits and launched a record $16 million bug bounty program to safeguard user funds. Governance decisions, treasury allocations, and buyback transactions are tracked on public dashboards, reinforcing its commitment to transparent, community-aligned operations.

Conclusion

Usual Protocol is fundamentally a community-governed DeFi platform that merges traditional finance stability—through RWA-backed stablecoins—with decentralized revenue distribution. Its design incentivizes long-term participation by directly tying token holder rewards to protocol adoption and financial performance. As the landscape for stablecoins evolves, how will Usual's model of transparent, shared value influence broader DeFi infrastructure?