Updated on December 16.

USD0/++ Liquidity Transition's Final Phase

The liquidity transition introduced under UIP-11 has now reached its final phase. Over the past few weeks, the protocol has completed each step of the new structure, moving USD0 toward a clearer and more efficient liquidity path. Today marks the completion of the final step of this migration.

The transition began with the removal of incentives from the Curve USD0/USDC pool on November 20, 2025.

A migration option was made available for users who wanted to adjust their position. Pending rewards stopped accruing on November 20 at 02:00 UTC, and claimable rewards were updated three days later, in line with the standard validation period.

On December 16, 2025, the same applies to the Curve USD0/USD0++ pool and the Fluid USD0/USDC pool. Liquidity can remain on Curve or Fluid and will continue to earn fees, but all USUAL incentives have been removed. Users who wish to keep receiving USUAL incentives are encouraged to migrate their liquidity to Uniswap.

December 16 marks the final step of the transition.

Uniswap v3 as the primary liquidity venue

The USD0/USDC and USD0/USD0++ pools on Uniswap v3 are now live and receiving incentives, becoming the primary incentivized liquidity venue.

These pools are fully integrated into the dApp, allowing users to deposit directly into the incentivized range with a smooth, streamlined experience.

The new APYs are now visible, and users will begin receiving rewards one day after the end of the epoch, in accordance with the standard reward processing cycle.

With Uniswap v3 now active, the liquidity transition described in UIP-11 is complete. The system now operates with a single, efficient incentivized venue and a clearer structure for users interacting directly through the dApp. Thanks to concentrated liquidity, Usual products now benefit from tighter spreads, delivering greater efficiency for users, as requested by the community.