What is Usual (USUAL)?

Deep Dive

1. Purpose & Value Proposition

Usual Protocol aims to solve centralization and opaque profit capture in traditional stablecoins. It issues permissionless, transparent stablecoins like USD0, which is fully backed by tokenized U.S. Treasury Bills from institutional providers like BlackRock and Ondo Finance (Bitrue). This model shifts revenue from reserve assets away from a central issuer and directly to protocol participants, creating a community-aligned financial system.

2. Technology & Architecture

The protocol's stability relies on verifiable, real-world asset (RWA) collateral. Reserves are attested on-chain and off-chain for transparency. Usual has expanded multichain, with its assets live on Ethereum, Arbitrum, BNB Chain, and Base, using cross-chain infrastructure like CCIP and LayerZero for seamless bridging (Usual Protocol). This architecture supports its suite of yield-generating products across different blockchains.

3. Tokenomics & Governance

The USUAL token is central to protocol governance and value accrual. Holders vote on key parameters like collateral types and fee structures. Uniquely, the protocol commits up to 70% of its revenue to buy back USUAL from the market, while the remaining 30% is distributed weekly to users who lock their tokens (Usual). This design directly ties the token's value to the protocol's financial performance and growth.

Conclusion

Usual Protocol fundamentally is a community-owned engine for generating yield from real-world assets, using transparent, asset-backed stablecoins as its foundation. How will its multichain expansion and evolving product suite shape its role in the broader DeFi landscape?