Today, I would like to extend the discussion on the "Binance Launchpool new project Usual" and share my thoughts on the RWA (Real-World Asset) sector.
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Background⬇️
I believe that those interested in this project have already understood that Usual is a fiat issuer, with the track being RWA+stablecoin, and the final output is $USD0. Currently, Usual's TVL is 414M.
Its native Token is $USUAL, which enjoys the governance and dividend rights of the protocol, with 90% of the Token supply allocated to the community and 10% to the team, VCs, and advisors. The market maker is likely to be GSR.
Here are my thoughts⬇️
1. Does Binance listing $USUAL mean the beginning of RWA Tokens regaining market attention?
Looking at the data, the RWA sector ranking has risen from 7th to 5th (largely due to the excellent performance of $OM), and the overall market remains relatively stable, without a frenzy in the RWA sector due to the Binance listing of $USUAL.
This is a normal occurrence. The market is a slave to numbers (prices) and information (catalysts), and it will follow the numbers and information and respond accordingly. From a different perspective, we have already seen large institutions (such as BlackRock) deploying on Ethereum, Avalanche, and Aptos, and it is foreseeable that the RWA sector will eventually experience a concentrated outbreak at a certain point in time. When the RWA sector erupts, $USUAL will be a good choice (listed on Binance spot+smaller than $ONDO, and $ONDO is not listed on the spot).
2. The market's disenchantment with BlackRock & RWA and the next RWA catalyst
What will be the future catalysts for the RWA sector? In my observation, the market has gradually become disenchanted with information such as "a project collaborating with BlackRock".
This is a diminishing marginal effect.
My personal view is that the large-scale promotion of PayFi may have a very positive impact on the RWA sector. We can see that whether it's Paypal, Coinbase, or Trump, they are all pushing in this direction. (Here's an explanation of PayFi: I believe the PayFi track is part of the RWA sector)
Paypal has launched $PYUSD (also subsidizing users) and allows merchants to buy, hold, and sell cryptocurrencies from their business accounts.
Coinbase Wallet is using a 4.7% APY to attract users and USDC deposits, and we can also often hear from the Base ecosystem leaders about the convenience of cross-chain payments using Basechain.
Meanwhile, the Trump Media & Technology Group is also considering launching a cryptocurrency payment service, applying for a service called TruthFi on Monday, and describing it as a platform for cryptocurrency payments.
All these signs indicate that PayFi is likely to become the mainstream narrative in the future market, and it may also become the ignition point for the RWA sector to regain market attention.
3. $USUAL and Pendle
The listing of $USUAL is also good news for Pendle. If you've been following my Pendle updates, you'll find that I often mention the $USD0 stablecoin pool. Pendle and Usual have been collaborating for a long time, and this Binance Launchpool will further increase the market's attention to $PENDLE.
This is also why I like Pendle, no matter how the market changes, the demand for Yield Farming continues to exist. And Pendle will play a very important role in it, from LSD to LRT, to the current BTCFi and Usual, Pendle has always been indispensable.
Remember this sentence: "Yield is everywhere, Pendle is everywhere".
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TG Channel (where my previous market insights were shared): https://t.me/SleepinRain
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