Usual, a stablecoin protocol launched in July this year, is rapidly gaining traction in the decentralized finance (DeFi) market. With its focus on growing its DeFi portfolio and launching innovative vaults, Usual aims to be a decentralized alternative to existing stablecoins like Tether. But what exactly is Usual, and how is it setting itself apart in the competitive world of DeFi?
What Is Usual and How Does It Work?
Usual is a stablecoin protocol that issues a stablecoin called USD0 backed by real-world assets (RWA) as collateral. Unlike other centralized stablecoins, Usual is committed to decentralization and redistributes value and ownership fairly among its users through its governance token, USUAL. The protocol's unique approach not only offers stability but also empowers its community by granting them a say in the protocol's development through decentralized governance.
What Are the Key Features of Usual's Growth?
Usual has quickly emerged as one of the fastest-growing stablecoins on the market, attracting support from prominent investors such as IOSG, Kraken Ventures, and GSR. Additionally, several DeFi founders from projects like Curve, Frax, Balancer, and Convex have invested in Usual as angel investors. In just 45 days since its launch, Usual has achieved a total value locked (TVL) of over $200 million, demonstrating its appeal and rapid adoption in the DeFi space.
How Is Usual Expanding Its DeFi Portfolio?
Usual is actively focusing on expanding its DeFi portfolio through strategic collaborations and the launch of new vaults. This week, the protocol plans to launch a new vault on Ether Fi, further solidifying its presence in the DeFi landscape. By continuously developing more DeFi protocol partnerships, Usual aims to provide diverse investment opportunities for its users and enhance the overall utility of its stablecoin, USD0.
What Makes Usual's Liquidity Stand Out?
Liquidity is a key factor in Usual's rapid growth. The protocol has already amassed significant liquidity across multiple DeFi platforms: over $75 million on Curve, $50 million locked on Pendle, and $45 million in the Morpho USDC lending vault. These impressive liquidity figures underscore Usual's strong market presence and its ability to attract capital, making it a formidable force in the stablecoin ecosystem.
When Is the Usual Airdrop and What Can Users Expect?
Usual's governance token, USUAL, plays a central role in the protocol's mission to redistribute value fairly among its users. To further incentivize community involvement, Usual has planned an airdrop of USUAL tokens in the fourth quarter of 2024. This airdrop will provide users with a share of protocol ownership, encouraging active participation and alignment with Usual's long-term vision.
Why Is Usual Positioned as a Decentralized Alternative to Tether?
Usual sets itself apart from centralized stablecoins like Tether by emphasizing decentralization and transparency. By leveraging real-world assets as collateral and redistributing governance through USUAL tokens, Usual offers a more community-centric approach to stablecoin issuance. This model not only ensures the stability of USD0 but also empowers users with a voice in the protocol's future direction.
Conclusion
Usual is more than just another stablecoin; it is a fast-growing, decentralized alternative designed to disrupt the stablecoin market. With its innovative approach to DeFi portfolio expansion, robust liquidity, and commitment to community-driven governance, Usual is poised to become a major player in the DeFi landscape. As it continues to grow and evolve, Usual's impact on the market will likely only increase, making it a protocol worth watching in the coming months.
What Is Usual? What Are the Key Features of Its Growth? - I hope this article was informative.
