Usual｜Decentralized RWA stablecoin protocol

Duration

In Progress

Task

Supported Chains

Usual｜Decentralized RWA stablecoin protocol

Project Details

The Usual protocol is a Fiat stablecoin issuance protocol featuring decentralized governance and a transparent design. The protocol's design ensures user safety and reliability, based on the principles of decentralized finance (DeFi).

It aims to completely rebuild the Tether model on-chain. All transactions and governance are executed on the blockchain, ensuring transparency. Governance token ($USUAL) holders control the issuer and make decisions regarding risk policies, the nature of collateral, and liquidity incentive strategies.

Users can issue USD0 tokens at a 1:1 ratio by depositing real-world assets (RWA) such as US Treasury Bills into the protocol. It is also possible to indirectly issue USD0 by depositing USDC.

USD0 tokens can be used for payments, trade counterparties, and collateral within the DeFi ecosystem. By locking them and converting them to USD0++, additional returns can be obtained.

The TVL is $84.7M, trailing CurveUSD at $109M, GeminiUSD at $111M, and PaxosUSD at $119M.

Funding

They have raised $7M in funding led by IOSG Capital and Kraken Ventures.

Airdrop Information Details

You can earn Usual Pills through various activities within the protocol. $USUAL tokens will be distributed based on these points at TGE.

How to earn Usual Pills (Points)

Convert USDC to USD0 and lock it.
Provide liquidity for USD0 on Curve.

Pill Acquisition Details

Lock USD0 and mint USD0++ to earn 5 Pills. Holding USD0++ earns you 3 Pills daily.

Liquidity Provision (LP) Earn Pills by depositing USD0 or USDC into the designated pools on Curve. USD0/USDC pool: 1 Pill daily. USD0/USD0++ pool: 3 Pills daily for supplying USD0 and an additional 5 Pills distributed among USD0 LPs.

Pill Boosting A multiplier to increase the Pills earned during the pre-launch. The initial value is 1 and increases by 2% daily. Closing your position resets the multiplier to 1.

Official documentation is here

Airdrop Strategy

Airdrop Procedure Summary

Access the site here
Enter the referral code (7S95Q)
Connect your wallet and follow them on Twitter
Swap USDC to USD0
Lock USD0 to acquire USD0++

Illustrated Procedure

Access the site here
Enter the referral code (7S95Q)
Connect your wallet and follow them on Twitter
Swap USDC to USD0
Lock USD0 to acquire USD0++

Disclaimer

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