# Usual Revenue Distribution The **USUALx Revenue Distribution Module** lets USUALx holders commit their **staked USUAL** for fixed durations to gain access to the protocol’s **revenue distributions** via the **Revenue Switch**. * **Only locked USUALx earns protocol revenue** (weekly USD0 distributions). * **Unlocked (basic staked) USUALx** still earns its share of the 22**% daily USUAL emission**, but **does not** participate in weekly USD0 revenue distributions. * **Longer lock durations** receive **duration-based boosts**, increasing a user’s *relative* share of weekly revenue. *** ## Design Philosophy The Locking Module directs protocol revenue to committed participants and aligns long-term holders with protocol health. By requiring immutable time commitments to access revenue, the mechanism: * **Filters for conviction:** Only participants willing to commit capital for defined periods receive the protocol’s real yield. * **Reduces volatility:** Locked positions cannot be withdrawn impulsively, supporting a more stable staker base. * **Supports sustainable growth:** Revenue flows to durable supporters of the ecosystem rather than short-term yield seekers. *** ## From Staking to Revenue: The Full Stack Staking is the first step in a layered participation model, where each layer unlocks additional benefits: | Layer | Action | Benefit | | -------------------- | --------------------------------------------- | ----------------------------------------------------------- | | **1. Staking** | Deposit USUAL → receive USUALx | Earn 22,5% of daily USUAL emissions | | **2. Locking** | Lock USUALx for 1, 3, 6, or 12 months | Become eligible for protocol revenue via the Revenue Switch | | **3. Revenue Share** | Hold locked USUALx through full weekly epochs | Receive weekly USD0 distributions from protocol earnings | | **4. Governance** | Hold USUALx | Participate in on-chain governance votes | Longer lock durations provide **higher revenue boosts**—the protocol rewards long-term commitment with a proportionally greater share of distributed revenue. Locks are **immutable until expiration**. At maturity, tokens become fully liquid and can be **withdrawn or re-locked**. Users can also maintain **multiple lock positions simultaneously**, each with its own duration. *** ## How It Works The Locking Module is layered on top of basic USUALx staking. The end-to-end flow is: 1. **Stake USUAL → Receive USUALx**\ Deposit USUAL into the staking contract at the current exchange rate and receive **USUALx**. No lock-up is required at this stage. Simply holding USUALx earns you a share of the **\~22% daily USUAL emission**. 2. **Lock USUALx → Become Eligible for Protocol Revenue**\ Lock your USUALx for a fixed duration to become eligible for **weekly USD0 revenue distributions** via the Revenue Switch. 3. **Hold Through Epochs**\ Revenue is distributed on a **weekly epoch** schedule (**Monday UTC+0 to Sunday UTC+0**). To qualify for a given week’s distribution, your locked position must remain locked for the **entire epoch**. 4. **Maturity → Withdraw or Re-lock**\ When the lock expires, your USUALx becomes liquid again. You can: * **Withdraw** (convert USUALx back to USUAL at the then-current, appreciated exchange rate), or * **Re-lock** for a new term. *** ## Lock Durations and Revenue Boosts USUALx can be locked for one of four fixed durations. Each duration applies a **revenue boost** that increases the position’s **revenue-share weighting** for weekly USD0 distributions: | Lock Duration | Revenue Boost | | ------------- | ------------- | | 1 month | Base level | | 3 months | Higher boost | | 6 months | Higher boost | | 12 months | Maximum boost | > **Important:** Revenue boosts affect **revenue-share weighting only**. They do **not** change governance voting power, USUAL staking emission rates, or token supply mechanics. *** ### Epoch Eligibility Rules Eligibility is governed by strict epoch-based rules: * **Full-epoch requirement:** Your locked position must remain intact for the **entire weekly epoch** (Monday through Sunday UTC+0) to qualify. * **Top-ups during an epoch:** Additional locks or increases made during an active epoch count toward the **next epoch**, not the current one. * **Withdrawals void the epoch:** **Any withdrawal during an active epoch voids all reward eligibility for that epoch.** The locked position must remain untouched for the full week to earn that week’s distribution. * **Mid-epoch new locks:** Locks created mid-epoch begin earning revenue distributions starting the **following epoch**. *** ## Dual-Yield Structure Locked USUALx positions can receive two yield streams at the same time: 1. **USUAL staking emissions**\ **22% of all daily USUAL emissions** are distributed to all USUALx holders (both locked and unlocked). This value accrues through the **appreciating USUALx-to-USUAL exchange rate**. Post-disinflation, this corresponds to **301,203 USUAL/day** (\~22.3% of total daily emissions). 2. **USD0 revenue distributions**\ Weekly Revenue Switch payouts in **USD0**, available **only** to locked USUALx positions and **weighted by lock duration** (via the revenue boost). *** ## Managing Multiple Positions Users can manage **multiple lock positions** at the same time: * Multiple lock positions can be opened with different **amounts** and **durations**. * Each position is tracked independently, with its own **maturity date** and **boost level**. * Creating a new lock does **not** affect existing locks. * This enables lock “laddering” to balance **liquidity** and **yield optimization**. *** ## Smart Contracts | Contract | Address (Ethereum) | | ------------- | -------------------------------------------- | | USUALx | `0x06B964d96f5dCF7Eae9d7C559B09EDCe244d4B8E` | | USUALx Lockup | `0x85b6f9bddb10c6b320d07416a250f984f0f0e9ed` | *** ## Procotole Revenue & Revenue Switch ### Revenue Sources Protocol revenue is generated from multiple sources: | Source | Description | | --------------------------- | ------------------------------------------------------------------- | | **T-Bill collateral yield** | Primary source, yield from US Treasury Bills and repos backing USD0 | | **Protocol fees** | Fees from minting, redeeming, and other protocol operations | | **Fira lending fees** | 10 bps base borrowing fee | ### Revenue Distribution Flow ``` T‑Bill yield + protocol fees + unstaking fees ↓ Protocol revenue pool ↓ ┌───────────────┴───────────────┐ ↓ ↓ 30% to USUALx stakers 70% to DAO treasury (weekly, in USD0) (compounding, buybacks, strategic deployment) ``` --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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