The native token of a decentralized fiat stablecoin-issuing platform is rallying against the dipping crypto markets.
Two days ago, the world’s largest crypto exchange by trading volume, Binance, added support for Usual Protocol (USUAL).
[adinserter block="1"]“Binance is excited to announce that Usual (USUAL) will be added to Binance Simple Earn, Buy Crypto, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below.”
According to a post on the social media platform X from Usual in response to the Binance listing, the team says the protocol aims to usher in a “stablecoin renaissance”.
“90% for the Community: Usual is built to empower, with the majority of tokens for users.
No VC (venture capital)/Team Dumps: Just 10% allocated to insiders, cliffed for one year.
100% Revenue for the DAO (decentralized autonomous organization): Every $ of revenue belongs to USUAL holders”
According to the Usual Protocol’s website, USUAL acts as a governance token performing two major functions:
“1. Usual is a multi-chain infrastructure that aggregates the growing tokenized Real-World Assets (RWAs) from entities like BlackRock, Ondo, Mountain Protocol, M0 or Hashnote to transform them into a permissionless, on-chain verifiable, and composable stablecoin (USD0).
2. Usual is built around the redistribution of power and ownership to users & third parties, akin to a scenario where Tether’s TVL providers would own the company and the associated revenues.”
USUAL is going for $1.43 at time of writing, up 17% on the day. Meanwhile, the total crypto market cap is down 6% over the same period.
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