The decentralized stablecoin issuer Usual's governance token USUAL has been soaring since its official launch in November. Vivek Ramaswamy, the co-leader of the U.S. government's efficiency department D.O.G.E, even posted a statement on his X platform account last night, claiming that the D.O.G.E department has reached a partnership with USUAL to reduce the federal fiscal deficit and promote cryptocurrency initiatives:
We believe this partnership will not only promote fiscal responsibility, but also greater financial inclusion... We are jointly committed to exploring new ways to harness the potential of digital currencies to achieve sustainable economic growth and stability.
The price of USUAL surged on the news, but Azoria Partners CEO James Fishback quickly debunked the claims, stating that Vivek Ramaswamy has confirmed to him that his account was hacked, and the DOGE and USUAL partnership announcement was a fraud, and the fraudulent tweet has since been deleted.
Surprisingly, even after the debunking statement was released, the price of USUAL continued to soar, reaching a new all-time high of $1.6521 at 2 PM today, a single-day gain of over 30%. It has since pulled back, currently trading at $1.4485, up 26% in the last 24 hours.
What is Usual?
Usual is a stablecoin protocol that has launched USD0, a fully compliant stablecoin backed 1:1 by real-world assets (RWA) and without the need for permission. USUAL is the governance token that allows the community to guide the network's future development.
Usual recently announced partnerships with Ethena and Securitize to launch the "Stablecoin Holy Trinity" strategy, emphasizing liquidity, yield, and composability, with the goal of reshaping the DeFi ecosystem. The key highlights include:
- Real-asset backing: Accepting USDtb and BUIDL as collateral for the first time, achieving stability and high liquidity.
- Yield enhancement: Creating leading stablecoin market yields through RWA (real-world assets) and delta-neutral strategies.
- Composable interoperability: Realizing low slippage and high-efficiency liquidity through the 1:1 exchange mechanism between USDtb, USD0, and sUSDe.
