Interpreting Binance Launchpool’s latest project Usual: RWA decentralized stablecoin

This afternoon, Binance announced that it will launch the 61st project Usual (USUAL) on Launchpool at 6:00 PM Beijing time on November 19, and open pre-market trading. Users can lock BNB and FDUSD to participate in mining, and the mining period is from 00:00 Beijing time on November 15 to 8:59 on November 19, 2024. After this news was released, the BNB price briefly touched $660 and is currently reported at $648, with a 24-hour increase of over 6%. Below, Odaily will be the first to bring you the latest information on the Usual project launched on Binance Launchpool and its token economic model. Project Introduction Usual is a secure, decentralized issuer of fiat-backed stablecoins, and will distribute platform ownership and governance rights through its platform token USUAL in the future. Usual is a multi-chain infrastructure that integrates the growing tokenized real-world assets (RWA) of Blackrock, Ondo, Mountain Protocol, M0, and Hashnote, and converts them into a permissionless, on-chain verifiable and composable stablecoin USD0. Among them, USD0 is the first liquid deposit token (LDT) provided by Usual, supported by real-world assets (RWA) at a 1:1 ratio, ensuring its stability and security. At the same time, as an RWA stablecoin that aggregates various US Treasury token assets, USD0 can be minted on Usual in two different ways: - Direct RWA deposit: Users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio; - Indirect USDC/USDT deposit: Users deposit USDC/USDT into the protocol and receive USD0 at a 1:1 ratio. This indirect method involves third-party collateral providers who provide the necessary RWA collateral. This allows users to obtain USD0 without directly dealing with RWA. According to ROOTDATA data, Usual completed two rounds of financing this year, with a total amount of $8.5 million, specifically: - On April 17, Usual announced the completion of a $7 million financing round, led by IOSG and Kraken Ventures, with participation from GSR, Mantle, Starkware, Flowdesk, Avid 3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures. - On November 9, Usual announced the completion of a new $1.5 million financing round, with investments from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed. The specific valuation data has not yet been disclosed. According to defillama data, the current total TVL of the Usual platform is $350 million, close to its historical high. Token Economic Model According to official information, the fiat-backed stablecoin issuer Usual has a total token supply of 4,000,000,000 USUAL, of which the initial circulating supply accounts for 12.37% of the total token supply, which is 494,600,000 tokens. The Binance Launchpool allocation accounts for 7.5% of the total token supply, which is 300,000,000 tokens. Therefore, the initial airdrop is likely to be 4.87%. In addition, USUAL is an Ethereum native token, and its contract code is: 0x430a2712cEFaaC8cb66E9cb29fF267CFcfA38a42. The governance token USUAL of the fiat-backed stablecoin issuer Usual will have the actual revenue, future revenue, and infrastructure ownership of the platform protocol in the future. The official document also emphasizes that 90% of the total token supply will be allocated to the community, and 10% to insiders (team, advisors, investors), ensuring fair distribution to users and true participation.