Interpreting Binance Launchpool's New Listing Project Usual: Innovation Combining RWA with a Stablecoin

Source: Asher, Odaily Planet Daily

This afternoon, Binance announced that it will launch the 61st project, Usual (USUAL), on Launchpool at 18:00 on November 19, Beijing time, and open pre-market trading. Users can stake BNB and FDUSD to participate in mining, with the mining period from 00:00 on November 15 to 8:59 on November 19, 2024, Beijing time. Upon this news, the price of BNB briefly touched $660, currently trading at $648, with a 24-hour increase of over 6%.

Next, Odaily Planet Daily will take you to understand Binance Launchpool's latest project, Usual, and its tokenomics for the first time.

Project Introduction

Image Source: Official Tweet

Usual is a secure, decentralized issuer of fiat stablecoins, with future plans to distribute platform ownership and governance rights through its platform token USUAL. Usual is a multi-chain infrastructure that integrates the tokenized real-world assets (RWA) growth of entities like Belad, Ondo, Mountain Protocol, M0, Hashnote into a permissionless, on-chain verifiable, and composable stablecoin USD0.

USD0, provided by Usual, is the first Liquidity Deposit Token (LDT), supported by real-world assets (RWA) on a 1:1 ultra-short-term basis, ensuring its stability and security. Simultaneously, as a stablecoin of aggregated U.S. Treasury bond tokens, USD0 can be minted on Usual in two different ways:

Direct RWA Deposit: Users deposit qualifying RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio;

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 offer the necessary RWA collateral. This allows users to obtain USD0 without directly handling RWA.

According to ROOTDATA data, Usual completed two rounds of funding this year, totaling $8.5 million, including:

On April 17, Usual announced the completion of a $7 million funding round 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;

On November 9, Usual announced the completion of a $1.5 million new funding round, with participation from Comfy Capital, early crypto project investor echo, Breed VC founder Jed Breed, and specific valuation data has not been disclosed.

According to DefiLlama data, Usual's current total value locked (TVL) on the platform is $350 million, nearing its all-time high.

Usual TVL Data

Tokenomics

According to official information, Usual, the issuer of a fiat-backed stablecoin, has a total supply of 4,000,000,000 USUAL tokens, with the initial circulating supply accounting for 12.37% of the total token supply, amounting to 494,600,000 tokens. The Binance Launchpool allocation represents 7.5% of the total token supply, totaling 300,000,000 tokens. Therefore, the first-round airdrop may account for 4.87%. Furthermore, USUAL is an Ethereum native token, with the contract code: 0x430a2712cEFaaC8cb66E9cb29fF267CFcfA38a42.

The issuer of the fiat-backed stablecoin USUAL issued the governance token USUAL, which will have ownership of the platform protocol's actual revenue, future revenue, and infrastructure. The official documentation emphasizes that 90% of the total token supply will be allocated to the community, with 10% allocated to insiders (team, advisors, investors), ensuring fair distribution to users and genuine participation.

Interactive Experience

Project Website: https://app.usual.money/

STEP 1. Enter the interactive website and click on "Connect Wallet".

STEP 2. Click on "Counter", then click on "Deposit" to exchange USDC for USD0.

STEP 3. Click on "Drugstore" to form an LP, where each row has a corresponding APY and Pills reward (Pills points are related to future token airdrops).

Original Article Link

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