Why Usual?
Cryptocurrency needs a fiat-backed stablecoin that is fully on-chain, supported by an infrastructure that ensures enhanced neutrality, transparency, and security.
Usual introduces a model that aims to rebuild Tether fully on-chain. In this system, the issuer is controlled by the holders of the Usual governance token. This includes decision-making over risk policies, the nature of the collateral, and liquidity incentive strategies.
Put an End to the Privatization of Profits
Tether and Circle generated over $10B in revenue in 2023, with valuations exceeding $200B. Yet, none of this wealth is shared with the users who contribute to their success. Usual is designed to provide an alternative to fiat-backed stablecoins that privatize profits from customer deposits while socializing losses. Centralized actors behind major fiat-backed stablecoins replicate the problematic structures of traditional banking, which contradict the principles of decentralized finance.
Usual's approach aims to create a fairer financial system by redistributing value and power more equitably among all users.
Usual's goal is to empower users to become owners of the infrastructure, treasury, and governance of the protocol. By redistributing 100% of the value and control through its governance token, Usual ensures that its community holds the reins.
The Usual protocol allocates its governance token to users and third parties who contribute value, realigning financial incentives and returning power to the participants within the ecosystem.

Revolutionizing Stablecoin Ownership & Growth Exposure
Unlike traditional stablecoins like Tether, which retain all revenues for their shareholders, or yield-bearing stablecoins that redistribute only yields to users through permissioned mechanisms, Usual takes a transformative approach giving both yield and growth exposure to the user.
How It Works
Usual aggregates the yield generated by the collateral backing its stablecoin into the protocol’s treasury. Rather than redistributing this yield directly as cash flow, the value is retained within the protocol, enhancing the intrinsic worth of the governance token ($USUAL). This token grants users both ownership and decision-making power over the protocol, its treasury, and future revenues, aligning incentives and fostering sustainable growth.
Key Features of Usual’s Model:
Ownership and Revenue Sharing:
Treasury Allocation: 100% of the protocol’s revenues flow into the treasury, and 90% of the ownership of these revenues is distributed to the community via governance tokens.
Actual Cash Flow: Reflecting real-time protocol revenues in the treasury.
Future Cash Flow: Based on potential growth in Total Value Locked (TVL) and protocol revenues.
Governance Rights:
Holders of $USUAL can influence key decisions such as revenue redistribution, collateral management, and risk policies.
Utility Rights:
$USUAL tokens unlock staking opportunities, validator token mechanisms, and “bribing” strategies akin to the Curve War, enabling users to redirect liquidity incentives and enhance token utility.
Why Usual Stands Out
This model not only redistributes revenue but also ownership, creating powerful incentives for early adopters. By aligning interests among participants through transparent, public token distribution, Usual establishes a robust foundation for sustainable growth and decentralized governance. It is a protocol designed to reward community engagement, giving users a meaningful stake in its present and future success.
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