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USD0++ Enhanced TBill

Introducing USD0 Liquid Bond

USUAL revolutionizes value distribution by redistributing protocol-generated value to holders of USD0 Liquid Bonds (USD0++).

USD0++ is an enhanced and boosted 4-year DeFi T-bill, secured by a principal locked in USD0 during 4 years, ensuring principal recovery. It allows users to benefit from the growth and success of the protocol. Unlike traditional models, USD0++ not only provides protocol revenues but also distributes ownership of the protocol through its innovative reward mechanisms.

It offers a yield in USUAL tokens, aiming to outperform the risk-free rate while guaranteeing the risk-free yield. During the Pills campaign, USD0++ grants access to points in the form of Pills. These Pills make their holders eligible for the airdrop at the end of the campaign. After this period, USD0++ will generate returns in the form of $USUAL tokens. To ensure a minimum yield, USD0++ features a mechanism called Base Interest Guarantee (BIG).

USD0 Liquid Bond as en Enhanced and Boosted TBill

USD0 Liquid Bond is an enhanced T-bill with the following characteristics:

  • No Risk to Principal: USD0++ is a bond containing locked USD0. There is no risk taken by the protocol with the locked USD0, as they remain simply immobilized.

  • No Volatility from Interest Rate Risk: USD0++ guarantees a yield linked to the interest rate of the underlying RWA in the form of USD0 through the Base Interest Guarantee (BIG). Since the collateral consists of overnight repos with very short maturities, the value of USD0++ is not affected by the volatility of interest rates, whether they rise or fall.

  • Liquid on the Secondary Market: Unlike many permissioned assets, USD0++ is liquid on the secondary market. You can either mint it via USD0 or purchase it directly on the secondary market.

  • Permissionless and Composable: USD0++ is integrated with numerous DeFi protocols, making it composable with a wide range of products.

  • No Minimum Amount Required: USD0++ can be held without any minimum amount required.

  • Higher Yield through USUAL Tokens: The innovation of USD0++ lies in its ability to distribute ownership of the Usual protocol to users through $USUAL tokens. This governance token ensures that USD0++ holders share in the present and future revenues of the protocol, providing extra value to the yield distributed in this form.

  • Guaranteed Risk-Free Yield: Thanks to the Base Interest Guarantee (BIG) mechanism, USD0++ Liquid Bond ensures its holder a yield at least equal to that generated by the USD0 collateral, boosted by the floating liquidity of non-locked USD0.

  • Bear and Bull Market Product: The yield distributed by the protocol, whether in $USUAL or $USD0, is designed to perform well in both bull and bear markets.

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