Usual Money: Decentralization stablecoin innovation backed by RWA

RWA Decentralization stablecoin: The innovative journey of Usual Money

Stablecoins, as the cornerstone of the cryptocurrency industry, play a key role in large-scale payments and industry adoption. As of the end of July 2024, the total market value of stablecoins reached 168 billion USD, with the two major centralized stablecoins USDT and USDC accounting for about 90% of the market share.

The stablecoin market is highly profitable, with two major players generating over $10 billion in revenue and a valuation exceeding $200 billion in 2023. In the first quarter of 2024, one giant even recorded a profit of $4.52 billion. This monopoly on profits contradicts the spirit of cryptocurrency, thus giving rise to numerous decentralized stablecoin projects.

Decentralization stablecoins can be divided into three categories based on the collateral ratio: over-collateralized, equal-collateralized, and under-collateralized. However, the collateral for these projects is mostly crypto assets, which require complex mechanisms to cope with coin price fluctuations. Introducing real-world assets (RWA) as collateral can effectively solve this problem. In 2023, the growth of RWA on the blockchain exceeded 800%, showing great potential.

The Usual Money project introduces U.S. Treasury bonds as collateral while providing transparency and security based on Ethereum smart contracts, returning profits to the community and contributors. This design combines the 1:1 RWA characteristics of a centralized stablecoin protocol with on-chain security and transparency.

Project Background

In April 2024, Usual Labs completed a $7 million financing round with participation from several well-known investment institutions. Founder Pierre Person was a French politician who promoted the country's cryptocurrency asset legislation.

On July 10, the Usual mainnet was launched. As of August 6, the total value locked (TVL) of the project reached $146 million. The USD0 stablecoin is mainly traded in the USD0/USDC pool of a certain decentralized trading platform, with liquidity reaching $11.33 million. In addition, USD0 has approximately $30 million in collateral on a certain lending platform.

The project token $USUAL is scheduled to be launched in the fourth quarter of 2024, with 90% allocated to the community.

usual.money: RWA Decentralization stablecoin (with interactive tutorial)

Mechanism Analysis

Collateral and Minting

USD0 is the first RWA stablecoin that aggregates various US Treasury bond tokens, which can be minted in two ways:

  1. Direct RWA deposit: Users deposit eligible RWA at a 1:1 ratio and receive an equivalent of USD0.
  2. Indirect USDC/USDT deposits: Users deposit USDC/USDT at a 1:1 ratio to obtain USD0, with RWA collateral provided by a third party.

This design allows Usual to integrate RWA token liquidity from various platforms, addressing the challenges of RWA clearing in the secondary market and retail investors obtaining RWA returns.

Earning Mechanism

USD0++ is an appreciation-type treasury bond of USD0, while $USUAL is the governance and reward token of the protocol. Users can earn returns by staking USD0, choosing between USUAL token returns or basic interest guarantees. Regardless of whether USD0++ is obtained through primary issuance or the secondary market, holders have the right to receive USUAL tokens.

usual.money: RWA Decentralization stablecoin (with interactive tutorial)

User Participation

Pills Activity Overview

  • The pre-launch phase starts on July 10 and lasts for 4 months.
  • Airdrop 7.5% of the total supply of $USUAL
  • Users can obtain airdrop qualifications through referrals and TVL contributions.
  • Linear distribution: the more you deposit, the more you earn.

Participation Steps

  1. Visit Usual Money dApp
  2. Deposit USDC, USDT, or ETH to mint USD0
  3. Ways to earn Pills:
    • Mint USD0++
    • Hold USD0++
    • Provide liquidity in specific liquidity pools
  4. Add liquidity to earn Pills

usual.money: RWA Decentralization stablecoin (with interactive tutorial)

Phase 2 Event

On August 4th, Usual launched the second phase of the event, where users can earn Pills by completing tasks on the platform.

Through this innovative RWA Decentralization stablecoin model, Usual Money aims to provide users with a safer, more transparent, and profitable stablecoin option, while promoting further development in the cryptocurrency industry.

USUAL-7.02%
RWA-4.41%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
ruggedNotShruggedvip
· 9h ago
Monopoly makes people angry
View OriginalReply0
MoonRocketmanvip
· 9h ago
Fuel Exhaustion Alert
View OriginalReply0
LostBetweenChainsvip
· 9h ago
Worthy of in-depth study and follow
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)