After more than a month, Binance's new Lanchpool is finally here. However, unlike what many people expected, Usual was not that popular this time, and many old investors, including the author, missed out.
The reason is that Usual is issuing stablecoins, and many old investors will consciously associate it with the popular stablecoin in the last bull market. Whenever they hear these two words, they will think of the crash. To this day, I still remember that I spent hundreds of U of gas to buy stablecoin, and then nothing happened.
In fact, Usual is completely different from what everyone understands as algorithmic stablecoins. Their stablecoins are 1:1 backed by real-world assets (RWA) and are fully compliant, which are completely different from the original algorithmic stablecoins.
According to the official introduction, Usual is a multi-chain infrastructure that integrates the growing tokenized real-world assets (RWA) of BlackRock, Ondo, Mountain Protocol, M0, and Hashnote entities, and transforms them into a permissionless, on-chain verifiable and composable stablecoin USD0.
In April this year, Usual announced the completion of a $7 million financing, led by IOSG and Kraken Ventures, with participation from GSR, Mantle, Starkware, Flowdesk, Avid 3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works and X Ventures.
Seven months later, Usual announced the completion of a new round of financing of US$1.5 million, with participation from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed. The specific valuation data was not disclosed.
That is to say, the amount of financing disclosed by Usual is only 8.5 million US dollars, which is obviously not on the same level as those projects that raise tens of millions or even hundreds of millions of dollars. However, when most people are working on those top projects, Usual has a direct connection to Binance. If you have not worked on it before, you can participate in Lanchpool mining.
Even if we miss out, we still cannot miss the research on the Usual project. After all, they actually went to the Institute of Astronomy and they must be quite capable.
1. Founder: Former political adviser to the French president
Usual CEO Pierre Person was a member of the French Parliament, where he worked mainly on monetary policy and served as a political adviser to French President Emmanuel Macron.
In 2022, this guy founded Usual, aiming to rebuild a stable feedback mechanism through decentralized data so that users can obtain more data ownership.
To date, the total TVL of the Usual platform has exceeded US$370 million.
2. USD0: The first liquid deposit token
USD0 is the first Liquid Deposit Token (LDT) provided by Usual, which is backed by real-world assets (RWA) at an ultra-short term of 1:1 to ensure its stability and security. At the same time, USD0, as an RWA stablecoin that aggregates various U.S. Treasury tokens, can be minted in two different ways:
① Direct RWA deposit: Users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio;
② Indirect USDC/USDT deposit: Users deposit USDC/USDT into the protocol and receive USD0 at a 1: 1 ratio. This indirect method involves third-party collateral providers who provide the necessary RWA collateral.
3. $USUAL: 90% of the total supply is allocated to the community
The total supply of $USUAL is 4 billion, with an initial circulation of 12.37%, of which Binance Launchpool accounts for 7.5%.
The official document emphasizes that 90% of the total token supply will be allocated to the community and 10% to internal personnel (team, consultants, investors) to ensure fair distribution and real participation of users.
As the official governance token, $USUAL holders will own the actual revenue, future revenue and infrastructure ownership of the platform protocol in the future.
It is worth noting that USUAL is deflationary, just like Bitcoin’s halving mechanism, the earlier you participate in the distribution, the more tokens you will get.
For more project information, please refer to Binance Research Report: https://www.binance.com/zh-CN/research/projects/usual
