Deep Dive
1. Stablecoin protocol
Usual aims to bring real-world assets onto blockchains through stablecoins such as USD0. Its reserves are described as tokenized short-term U.S. Treasuries, while the protocol also offers products for using stablecoins in savings and other onchain finance applications. (CoinMarketCap overview)
Asset backing does not eliminate risk: users still depend on reserve management, custody, redemption arrangements, and the stablecoin maintaining its intended value.
2. USUAL token
USUAL is not the stablecoin itself. It is the protocol’s governance token, intended to let holders participate in decisions; staking and locking can also connect users to protocol rewards or revenue distributions. The protocol’s USUALx product describes these staking, governance, and revenue-sharing functions. (Usual app)
Conclusion
Usual combines asset-backed stablecoins with a governance and reward system centered on USUAL. How effectively it can maintain stablecoin backing and make governance meaningful will shape the protocol’s core value.
