RWA Decentralization stablecoin: usual.money analysis

Stablecoin Market Overview

Stablecoins are the cornerstone of the cryptocurrency industry, playing a key role in large-scale payments and industry adoption. As of July 30, 2024, the total market capitalization of stablecoins reached $168 billion. In the market landscape, the two major stablecoins account for about 90% of the share.

The stablecoin business is highly profitable, with major participants generating over $10 billion in revenue in 2023, and a valuation exceeding $200 billion. One institution recorded a profit of $4.52 billion in the first quarter of 2024. This concentration of profits has sparked a demand for Decentralization, prompting a continuous emergence of various decentralized stablecoin projects.

Innovation of usual.money

usual.money adopts an innovative approach by introducing U.S. Treasury bonds as collateral, while utilizing Ethereum smart contracts to provide transparency and security. This design can be viewed as an on-chain version of a centralized stablecoin protocol, combining the characteristics of 1:1 physical asset collateralization with the security and transparency of blockchain.

Project Background

In April 2024, Usual Labs completed a $7 million financing round, with participation from several well-known investment institutions. The project founder has extensive experience in politics and cryptocurrency legislation. On July 10, the Usual mainnet was launched, and by early August, the total locked value of the project reached $146 million.

USD0 provides liquidity on major decentralized trading platforms and has strategic vaults on lending platforms. The project plans to conduct a token generation event (TGE) in the fourth quarter of 2024, where 90% of the USUAL tokens will be allocated to the community.

Mechanism Analysis

( collateral and minting

USD0 can be minted in two ways:

1. Directly deposit qualified physical assets ) RWA ###
2. Indirect deposit of USDC/USDT, with RWA collateral provided by a third party.

This design allows users to obtain USD0 without directly handling RWA, while integrating RWA token liquidity from multiple platforms.

( Yield Mechanism

USD0++ is a locked version of USD0, offering two yield options:

1. Daily earnings in the form of USUAL tokens
2. Basic interest protection after the lock-up period ends

Regardless of how USD0++ is obtained, holders have the right to receive USUAL tokens.

User Participation

Usual has launched a series of activities to attract user participation:

1. Pre-launch phase airdrop activity, allocating 7.5% of the USUAL supply at TGE.
2. Earn "pills" through various methods, including minting, holding, and providing liquidity.
3. Complete tasks on social platforms to earn extra rewards

Users can participate in minting USD0, locking USD0++, and providing liquidity through the official application. The project has also designed a time multiplier mechanism to encourage long-term holding.

![usual.money: RWA Decentralization stablecoin (with interactive tutorial)])https://img-cdn.gateio.im/webp-social/moments-dc2d7f2271e74056cd17db127b23c612.webp###

Overall, usual.money provides a new solution for the decentralized stablecoin market by combining RWA and blockchain technology, aiming to balance security, transparency, and profitability.