What is Usual (USUAL)?

Deep Dive

1. Purpose & Value Proposition

Usual Protocol addresses perceived shortcomings in traditional stablecoins—such as centralized profit capture and opaque reserves—by building a decentralized system. Its primary value proposition is offering stablecoins that are permissionless to mint, fully backed by verifiable real-world assets (RWAs) like U.S. Treasury Bills, and that share the revenue generated from those assets directly with the community that governs them (Bitrue).

2. Technology & Ecosystem

The protocol operates on a multi-token model. USD0 and EUR0 are the stablecoins, while USD0++ is a liquid staking derivative. The ecosystem has expanded to include "Usual Savings" (yield-bearing tokens sUSD0/sEUR0) and specialized vaults for generating yield. It leverages cross-chain infrastructure, such as LayerZero's OFT standard, to deploy its stablecoins across multiple blockchains (Usual).

3. Tokenomics & Governance

The USUAL token is central to the protocol's decentralized governance. Holders vote on proposals (UIPs) to guide development. Its economics are designed to be value-accretive: up to 70% of protocol revenue is used to buy back USUAL tokens from the market, while the remaining ~30% is paid weekly in USD0 to users who lock their tokens, rewarding long-term alignment (Usual).

Conclusion

Fundamentally, Usual is a community-governed DeFi protocol that merges the stability of real-world assets with on-chain transparency and profit-sharing. How will its focus on equitable value distribution influence the adoption of its stablecoins in a competitive market?