Usual Now Live on Spectra: PT/YT for Morpho USDC Lenders

We’re excited to announce that Usual is now live on Spectra, offering a new way for our community to supercharge their rewards with USUALUSDC+ from Usual’s Boosted USDC Vault on Morpho. Here’s how you can benefit from this integration!

Get USUALUSDC+ PT & YT on Spectra

Spectra unlocks more earning potential by splitting yield-bearing assets into Principal Tokens (PTs) and Yield Tokens (YTs). Together, these represent the total value of the asset, with the USUALUSDC+ pool expiring on November 12.

• Yield Tokens (YT): YTs represent the yield generated by your asset over time and expire on a certain date. As time passes and the yield is earned the value of YTs diminish eventually reaching 0 at maturity.

• Principal Tokens (PT): PTs represent the principal amount of your investment and are redeemable at a future date. As they represent a locked principal they are traded at a discount, and have their price increase as you get closer and closer to the maturity date at which time you can redeem for the asset. They represent a fixed yield, making them ideal for those seeking predictable returns.

  
  Earn Pills & Yield

• USUALUSDC+ Yield Tokens (YT): Earn the Morpho Lending yield, 1 Pill per day for each YT, Bonus Pills, and enjoy a Boost Catchup as long as you stay within Spectra or other Usual products.

• Liquidity Provider Tokens (LP): Earn 1 Pill per day for every $1 of USUALUSDC+ provided in LP, Bonus Pills, and also enjoy the Boost Catchup. Additionally, you’ll earn interest from the Morpho Vault.

• Principal Tokens (PT): While no Pills are directly awarded for PT you do earn a fixed rate thanks to the Discounted Cash Flow (DCF) mechanism of PT. Plus, you get a Boost Catchup and can grow your Final Boost multiplier by staying within the Usual ecosystem.

  
  

Boost Catchup

Whether you’re a new or existing Usual user, you can automatically benefit from the Final Boost when engaging with YT, PT or LP on Spectra. Here’s how it works:

• Existing Usual Rewarded Positions: If you're already holding rewarded Usual positions, your Final Boost will continue to accrue as long as you maintain other rewarded Usual positions. You can freely trade Usual products on Spectra, like YT for PT, without losing your Boost.

• Usual Positions Only on Spectra: If you hold only Usual positions on Spectra (USUALUSDC+ YT, LP & PT), your Final Boost will keep accruing as long as you maintain your positions or trade within Usual products. Switching to a non-standard product (e.g., selling YT for USDC) gives you a one-week grace period to revert to a recognized Usual product before losing your Boost.

  
  

Why Collect Usual Pills?

If you believe in a user-driven crypto future where stablecoin value is shared among the community, not just dominated by giants like Tether and Circle, Usual Pills are your gateway.

By engaging with Usual during our pre-launch, you can earn Pills, which will be converted into $USUAL tokens at TGE in Q4 2024. These tokens represent 7.5% of the total $USUAL supply, making you an integral part of shaping the protocol’s future. You're not just a user—you’re an owner.

To learn more about maximizing your Pills, check out our Pills Campaign Rules.

What is USD0++?

USD0++ is a 4-year enhanced DeFi T-Bill backed by locked USD0, yielding returns in $USUAL tokens. It offers a direct stake in the growth and governance of the Usual protocol. For more details, explore our product documentation.

How It Works

During the Pills campaign, holding USD0++ earns you Pills and a share of the $USUAL airdrop. After the campaign, USD0++ continues to generate $USUAL tokens, ensuring ongoing rewards. The Base Interest Guarantee (BIG) provides a minimum yield, protecting your investment against market volatility. Learn more about this mechanism on our BIG page.

Join Usual today and help build a more decentralized, user-focused financial future. Don’t miss your chance to be part of this movement!