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Usual Labs
Usual is a secure, decentralized protocol that issues a stablecoin, USD0, backed by Real-World Assets. It aims to redistribute the value captured from its operations back to the community through its governance token, $USUAL, effectively making users the owners of the protocol.
Distributed
Description
Usual Labs is the entity behind the Usual Protocol, a decentralized finance (DeFi) system built on the Ethereum mainnet. The core of the protocol is the USD0 stablecoin, which is collateralized by Real-World Assets (RWAs). The protocol's architecture consists of several smart contracts managing stablecoin issuance, structured financial products, swaps between RWAs and stablecoins, and asset pricing. The system also includes wrapper contracts for RWAs to enhance security. Usual Labs prioritizes the security of the protocol, engaging in regular audits and maintaining an active bug bounty program to identify and address potential vulnerabilities. As a decentralized protocol, it functions as a decentralized banking system, issuing the USD0 fiat-backed stablecoin by combining the security of real assets with the composability and liquidity of DeFi. Unlike traditional stablecoin issuers, Usual aims to redistribute value back to its users, giving them ownership and governance through the $USUAL token. The protocol ensures that 90% of the value generated circulates within the community, turning users into owners and creating a more equitable financial model. Its products include the USD0 stablecoin, USD0++ for liquid staking, and the $USUAL governance and revenue-sharing token, with plans for a yield optimizer, fixed rates, and fixed terms.Grant Funding
VC Funding
None
2024
$0
$8.5M