> For the complete documentation index, see [llms.txt](https://docs.usual.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usual.money/usual-products/usual-governance-token/usual-staking-usdusualx.md).

# Usual Staking ($USUALx)

**USUALx** is the transferable ERC-20 token that represents **staked USUAL** in the Usual Protocol. Staking is the base layer of the protocol’s participation stack: it provides access to governance, earns a share of the protocol’s daily USUAL emissions, and is the prerequisite for unlocking protocol revenue through the **Locking Module**.

***

## How It Works

When you deposit **USUAL** into the staking contract, you receive **USUALx** at the **current exchange rate**. Over time, the **USUALx ↔ USUAL exchange rate increases** as staking rewards accrue. As a result, each USUALx becomes redeemable for **more USUAL** over time—**no manual claiming** is required.

```
Stake:    USUAL  → USUALx (at current exchange rate)
Unstake:  USUALx → USUAL  (at appreciated exchange rate) - 10% fees
```

***

## Key Facts

* **Stake USUAL → receive USUALx**, a transferable representation of your staked position.
* **USUALx holders receive 22% of all daily USUAL emissions**, distributed proportionally across USUALx supply.
* **Stake or unstake at any time**—basic staking has **no mandatory lock-up**.
* The **DAO apply an unstaking fee** (currently **10%**), of which **⅓ is redistributed to remaining stakers**.
* **Only locked USUALx earns protocol revenue** via the **Revenue Switch**.
* **Staking is the required foundation** for participating in the Locking Module and revenue share.

***

## Daily USUAL Emission

Stakers collectively receive **22% of all USUAL tokens issued each day**. This allocation serves as an **anti-dilution mechanism**, helping stakers hedge against the inflationary effects of broader USUAL distribution.

Following the **November 2025 disinflation shock**, daily emissions were reduced by approximately **50.7%** (from \~**2.74M** to \~**1.35M USUAL/day**). While the nominal amount flowing to USUALx remained constant at **301,203 USUAL/day**, the staking share of total emissions increased from **11%** to **22.31%**, giving stakers a proportionally larger share of the reduced supply.

***

## Unstaking Fee

The DAO can set an **unstaking fee** on withdrawals from USUALx back to USUAL. The fee is currently **10%** and is distributed as follows:

| Recipient                | Share     |
| ------------------------ | --------- |
| Remaining USUALx stakers | ⅓ (33.3%) |
| USUAL insiders           | ⅓ (33.3%) |
| DAO treasury / protocol  | ⅓ (33.3%) |

This fee structure discourages short-term speculative behavior while rewarding long-term participants. In **2025**, approximately **$400,000** was collected from unstaking fees.


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