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It’s Not Unusual: Stablecoin Platform Altcoin USUAL Bucks Crypto Downtrend Following Binance Listing

It’s Not Unusual: Stablecoin Platform Altcoin USUAL Bucks Crypto Downtrend Following Binance Listing

Daily HodlDaily Hodl2024/12/19 16:00
By:by Daniell Marlow

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 ).

“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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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