Announcement

Jun 5, 2025

Jun 5, 2025

Jun 5, 2025

Laying the Foundations for What’s Next

Laying the Foundations for What’s Next

Laying the Foundations for What’s Next

Q1 turned external doubt into a disciplined relaunch: incentives realigned, borrowing and vault layers activated, security hardened, and core assets live on multiple chains. Usual now operates as a revenue-sharing, composable banking primitive—ready for the next cycles.

Roadmap 2025 → 2026

S1 2025 Wrap-up

From “stablecoin with yield” to a community-owned Blackrock

S1 2025 was full throttle — no resting: real yield for stakers, FED-independent revenue through fixed-rate borrowing, validated USD0++ as high-grade collateral, fortified security with a world-record bounty, and upcoming TVL growth by expanding beyond stablecoin.

Core KPIs

  • TVL: $635M of which $581M staked in USD0++ over the next 4 years

  • Annual revenue: $27M (top-40 DeFi)

  • Total value distributed to users: $259M

    • Distributed to USUAL stakers: $13M (top-10 rev-share protocol)

    • Distributed to USD0++ and LP (airdrop and after): $246M

  • USUAL staked: >50 % of supply

  • USL TVL: $250M

  • Cumulative on-chain volume : $51B for USD0 and USD0++

  • Community: more than 150k followers and users in our socials

  • Unique users: 250k users that connected their wallet.


Month
Main Update
Jan
Revenue Switch on: up to 100% of fees distributed every week.

> $13M already distributed. USUAL APY crushing 55%.
Feb
First governance proposal to launch theUSL” with Euler: borrow USD0 at a 5% fixed rate against USD0++.

> $200M cap filled instantly. Lending revenue flows to DAO.
Mar
Vaults open: users can farm yield across protocols with their USD0++ (Resolv, Superstate, Tac).

> $10M deployed. Liquidity redirected to power other protocols.
Apr
- Biggest bug bounty ever of $16M, with Sherlock and Nexus.
- ZK-powered revenue switch rewards via Brevis.
- Multichain: assets are now live on Base, BNB, Arbitrum.
June
- ETH0 launch: the best risk-adjusted yield on ETH.
- Gas Token + Smart Accounts: less gas friction on dApp interactions.


What is Usual?

Usual converts every idle cash or asset into a community-owned Blackrock that streams 100% of its net proceeds back to depositors. Three development axes drive the next phase:

1. The on-chain Blackrock


What Usual does
Why it’s new
User deposit, represented by a synthetic
Users deposit USDC, stETH, or T-Bills to mint a fully-collateralised synthetic (USD0, ETH0, BTC0).
Get access to a 100% backed synthetic that gives you the directionality of the asset and potential utility.
Yield distribution in USUAL
The yield generated by the collateral is minted as fresh USUAL, always linked to revenue generating assets.
Cash it out immediately or hold to compound the “bank’s” growth.
Protocol earnings streamed to USUAL holders.
Proceeds earned (Treasury coupons, ETH staking, payment fees) are streamed on-chain, 1-for-1, to USUAL holders.
Up to 100% rev-share, no spread kept by a middle-man — the first “mutualised BlackRock

The “Alpha or Beta” lever. Your Choice.
  1. You can cash out the yield, swapping your new tokens into stablecoins — a pure beta play, ideal for stable cash management.

  2. Or you can stake USUAL shares, compounding value and redistributions as the protocol’s balance sheet grows — the alpha play — capturing long-term upside as the “Central Bank” scales with every new user.


2. The Liquidity Bootstrapper

With over $650M TVL, Usual can invest in emerging protocols, redirecting TVL and seeding them while earning above-market yield:

Mechanism
Purpose
Value for USUAL holders
Strategic Vaults, Partnership or TVL reallocation (e.g. Euler, Hashnote)
Allow USD0++ holders to expose themselves to more productives assets.
Extra yield + upside in high-growth projects.
USL Expansion
Fixed-rate credit line that new protocols can tap for initial liquidity.
Interest income plus optional governance tokens.
Onchain TVL bribing
Allow USUALx to change allocation of flexible weight in a pre-define risk framework.
Reinforce USUALx utility and price.
New DeFi infra
Secret :)
New cash-flow for USUAL holders

USUAL becomes the default liquidity bootstrap layer for crypto projects, compounding returns into its own token.


What’s Next?

Upcoming feature drops:

  • Directional Yield (Q2 2025) – weekly payouts in USD0, ETH0, and soon BTC0.

  • Buy-back Logic (Q3 2025) – DAO acquires USUAL whenever price < discounted cash-flow.

  • ETH0 launch + gas utility (Q2 2025) – self-compounding smart-account flywheel.

  • Second version of the “++” model, with ETH0++ (Q3 2025) – TVL gate re-opens with instant-redeem token.

USUAL's mission remains clear: fight for the best equilibrium, grow cash flows, preserve intrinsic token value, and maintain defendable yields across all market cycles.


1. Yield Engine & New Redistribution Streams for USUAL token

Milestone
What Changes for Holders?
Q2 2025

USUAL v2 Tokenomics
 
- Directional Yield – weekly distributions can arrive in USD0, ETH0, or BTC0, mirroring the cash-flows earned by each synthetic collateral.
- Lock-for-Boost – longer-term stakers earn a higher share of revenue and governance weight.
Higher blended APY + optional macro/directional exposure; lock tiers incentivise diamond hands.
Q3 2025

Buy-Back Logic:
DAO‐driven repurchases whenever USUAL trades below the discounted value of forecast cash-flows (the “free-bet” zone).
Downside protection, tighter price-to-NAV spread.
Q3 2025

Second version of “++” model:
first applied to ETH0++, then rolled out to USD0++ and others. A “redeem token” lets users crystallise part of the future yield up-front and re-inject liquidity into the system.
TVL can grow again; arbitrage room now benefits USUAL stakers rather than outside speculators.
Q2-Q3 2025

Vault & USL Expansion
 
- New partner vaults redirect locked TVL to friendly protocols.
- Automation Vault (auto-restake, ++ boost).
One-click composability; USL liquidity loops get deeper.
Q4 2025

Collateral & Yield Optimisation:
Idle collateral may be rehypothecated into low-risk venues (per DAO mandate) to lift baseline yield.
Extra bps of revenue without altering risk appetite.


2. Synthetic Assets & Stablecoins

Date
Milestone
Q2-Q3 2025
Synthetic Expansion – launch of ETH0 (cap-gated TVL), followed by others (BTC0, SOL0, HYPE0, XAU0).
Q2-Q3 2025
ETH0 Gas Token + Smart Accounts – ETH0 becomes the native gas coin for Pectra-enabled smart wallets, with auto-claim, stake-on-claim, and auto-reinvest built in.
S2 2025
Multi-Currency Stable-Coins – roll-out of EUR-, GBP-, JPY-denominated “0” assets.
2025-2026
Payments & Banking Partnerships – announcements with banks/PSPs to settle in USD0 and selected synthetics.


3. Dedicated Infrastructure and R&D

Date
Milestone
End of 2025
Ship novel leverage primitives and infra tooling that amplify the utility of every synthetic product.


With yield engines scaling, liquidity deepening, and synthetics expanding, Usual is entering the next cycle, completing its transition from a yield-bearing stablecoin to a massive DeFi Blackrock.

The flywheel has spun before – every milestone in this roadmap is engineered to bring it back. This isn’t experimentation – it’s an execution plan.

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