# Usual

> Redistributing the value monopolized by crypto giants

Usual is a decentralized stablecoin issuer backed by tokenized Treasury bills. It lets users mint stablecoins, earn yield through savings and bond products, and share in protocol revenue through its governance token.

Usual is a decentralized stablecoin issuer that backs its stablecoins with tokenized short-term government debt and shares protocol ownership with its community. Users mint fiat-pegged stablecoins against tokenized Treasury bills and can route them into savings, bond, and alpha yield products. The protocol directs the value created by its reserves to holders of its governance token rather than to a central operator.

Usual addresses the imbalance in which stablecoin users supply the capital that earns reserve yield while issuers keep the revenue. Collateral is held on-chain and verifiable in real time, and each stablecoin is minted and redeemed through contracts that accept approved collateral directly or convert other stablecoins through a swap engine. Protocol revenue is shared with users who stake and lock the governance token, while decisions on collateral, treasury, and parameters go through community governance.

Its offering centers on USD0, a dollar stablecoin, alongside a euro stablecoin and an ETH-pegged synthetic asset backed by staked ether. Holders can deposit into savings vaults, lock into a bonded token that pays daily rewards, or stake the governance token for emissions and revenue share. Usual is used by DeFi participants, liquidity providers, and institutions seeking yield-bearing stablecoin exposure.

- Type: Company
- Sector: Finance
- Status: Active
- Founded: 2022-01-01
- Profile: https://thegrid.id/profiles/usual

## Products

- [Usual](https://thegrid.id/profiles/usual): Usual is a decentralized application for the Usual protocol's yield, staking, and governance products. Users deposit stablecoins into savings vaults, lock them into a bonded token that pays daily rewards, or allocate them to a market-neutral alpha strategy, with each position accruing value on-chain. The app also handles staking and locking of the governance token for emissions and revenue share, along with liquidity provision and swaps between protocol tokens. (Yield Aggregator, Live, Main Product)
- [USD0](https://thegrid.id/profiles/usual): USD0 is a stablecoin issuance system that mints a dollar-pegged token one-to-one against tokenized US Treasury bill collateral. Eligible holders deposit approved collateral tokens to mint and redeem at par, while other users convert stablecoins through a swap engine that matches orders against collateral liquidity. The same architecture issues EUR0, a euro-pegged stablecoin backed by tokenized Eurozone government bills. Collateral is held on-chain and can be verified in real time, and reserve yield flows to the protocol for redistribution to its community. (Stablecoin Issuer, Live)
- [ETH0](https://thegrid.id/profiles/usual): ETH0 is a synthetic asset issuance system that mints an ETH-pegged token fully collateralized by wrapped staked ether. Users mint and redeem on-chain at any time, keeping one-to-one ether exposure while the token stays usable across lending, liquidity, and yield protocols. Staking yield from the collateral is redirected to holders as governance token rewards instead of accruing in ether. (Liquid Staking, Live)

## Assets

- [USD0 (USD0)](https://thegrid.id/profiles/usual): USD0 is a USD-pegged stablecoin issued by Usual Protocol. It is used as a payment method, trading counterparty, and collateral token within the protocol, and is deployed on multiple blockchains. The stablecoin aggregates various US Treasury Bill tokens to create diversified backing, eliminating reliance on traditional bank deposits and fractional reserve risks common in centralized stablecoins. (Stablecoin)
- [bUSD0 (bUSD0)](https://thegrid.id/profiles/usual): bUSD0 is a bond token issued by Usual that represents USD0 locked until a fixed maturity date. It is used to earn daily USUAL rewards funded by protocol revenue, and it remains tradable and usable as collateral while locked. Each bUSD0 redeems one-to-one for USD0 at maturity, and a separate redemption token allows early exit at par. (Liquid Staking Tokens (LSTs))
- [USUAL (USUAL)](https://thegrid.id/profiles/usual): USUAL is the governance token of the Usual protocol. It is used to vote on protocol decisions and represents ownership of the protocol's revenue. Holders stake it for USUALx to unlock governance power and receive a weekly USD0 revenue share when they lock USUALx. (Governance)
- [ETH0 (ETH0)](https://thegrid.id/profiles/usual): ETH0 is an ETH-pegged synthetic asset issued by the Usual Protocol and fully collateralized by Lido's wstETH. It is used to maintain ETH exposure while earning yield, with on-chain minting and redemption available at any time. Unlike traditional staked ETH which distributes staking rewards in ETH, ETH0 redirects the underlying wstETH yield and redistributes it to ETH0 holders as USUAL governance tokens. (Synthetic Assets)
- [EUR0 (EUR0)](https://thegrid.id/profiles/usual): EUR0 is a euro-pegged stablecoin issued by Usual and backed by tokenized Eurozone government bills. It is used for payments, trading, and as collateral across DeFi, with permissionless minting and redemption against other euro stablecoins. It shares the issuance architecture of USD0, extending the protocol's on-chain verifiable collateral model to the euro. (Stablecoin)
- [USD0a (USD0a)](https://thegrid.id/profiles/usual): USD0a is a vault token issued by Usual representing deposits in its market-neutral alpha strategy. It is used as a dollar savings instrument that users mint with USD0 or other dollar stablecoins and redeem for USD0. Its yield comes mainly from a dated futures basis trade, and its value accrues through a rising exchange rate rather than rebasing. (Vault Tokens)
- [sUSD0 (sUSD0)](https://thegrid.id/profiles/usual): sUSD0 is a vault token issued by Usual representing USD0 deposited in its savings vault. It is used to earn yield from the Treasury bill collateral backing USD0 while remaining composable across DeFi. Its balance does not rebase, and value accrues through an exchange rate that lets holders redeem for more USD0 over time. (Vault Tokens)
- [sEUR0 (sEUR0)](https://thegrid.id/profiles/usual): sEUR0 is a vault token issued by Usual representing EUR0 deposited in its savings vault. It is used to earn yield from the Eurozone government bills backing EUR0 while remaining composable across DeFi. Its balance does not rebase, and value accrues through an exchange rate that lets holders redeem for more EUR0 over time. (Vault Tokens)
- [USUALx (USUALX)](https://thegrid.id/profiles/usual): USUALX is a liquid staking token issued by Usual representing staked USUAL. It is used for governance access, earning a share of daily USUAL emissions, and locking to receive protocol revenue. Its exchange rate against USUAL rises as staking rewards accrue, so holders redeem for more USUAL without claiming rewards manually. (Liquid Staking Tokens (LSTs))

## Links

- [Main](https://usual.money)
- [Blog](https://usual.money/blog)
- [Media Kit/branding](https://usual.money/brand-kit)
- [Documentation](https://docs.usual.money)
- [Governance](https://snapshot.box/#/s:usualmoney.eth)
- [Whitepaper](https://docs.usual.money/resources-and-ecosystem/whitepaper)
- [Privacy policy](https://docs.usual.money/resources-and-ecosystem/legal-documentation/privacy-policy)
- [Terms of Service](https://docs.usual.money/resources-and-ecosystem/legal-documentation/terms-of-services)
- [LinkedIn](https://www.linkedin.com/company/usualmoney)
- [Twitter / X](https://x.com/usualmoney)
- [Telegram](https://t.me/UsualCommunity)
- [YouTube](https://www.youtube.com/channel/UCxshfCtZTlahG_Bwchclb8A)

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