What opportunities exist for you in the rapidly evolving landscape of decentralized finance, particularly concerning Usual’s innovative approach to stablecoins and community engagement?
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An Introduction to Usual
Usual introduces a decentralized protocol that focuses on bridging traditional finance with decentralized finance through the tokenization of real-world assets (RWAs). In the quest to integrate RWAs into the blockchain ecosystem, Usual enhances liquidity and accessibility, incorporating tangible assets such as real estate, commodities, and financial instruments.
Usual Labs, the pioneering firm behind this project, has developed USD0, a stablecoin derived from aggregating various US Treasury Bill tokens from notable institutions. These include investment giants such as BlackRock, Ondo, and more. This approach transforms these assets into a permissionless and on-chain verifiable stablecoin, enhancing the financial landscape for a broader audience.
Understanding the Usual Protocol
Usual is designed with the purpose of creating an equitable alternative to existing fiat-backed stablecoins. Its model revolves around community governance, where holders of the Usual governance token can influence key decisions related to risk policies and liquidity incentives. By empowering the community, this protocol emphasizes a higher degree of user control and ownership over the system, allowing for a more democratic financial ecosystem.
One of the main drivers of the Usual protocol is the recognition that the integration of RWAs into decentralized finance poses multiple challenges. The venture aims to change this perception by inviting a larger pool of investors to access traditionally illiquid assets, thus reshaping the dynamics of investment and liquidity in this space.
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Goal and Vision of Usual
The overarching goal of Usual is to offer an innovative stablecoin solution that supports the redistribution of value among its users more equitably than traditional alternatives. With the backing of substantial investments and a well-established team, Usual aims to foster a sustainable and scalable decentralized finance ecosystem.
The introduction of Pills, Usual’s pre-launch point system, enables users to partake in various activities within the Usual framework, thereby qualifying for potential rewards in the form of USUAL tokens during the anticipated airdrop.
Earning Pills: The Pre-Launch Point System
The underlying philosophy of Pills is simple yet effective: rewarding user engagement and liquidity contributions before the official token launch. Below, you will find a detailed guide to earning Pills through various methods to maximize your potential rewards.
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Key Takeaways
- Usual Labs is spearheading a decentralized protocol aimed at integrating RWAs into decentralized finance via the USD0 stablecoin.
- The firm has raised $7 million in funding and achieved a total value locked (TVL) commitment of $75 million from over a hundred investors.
- The Usual Pills campaign allows users to earn Pills through various platform interactions leading up to the USUAL token launch.
Step 1: Connect Your Wallet
Connecting your wallet is the first step to engaging with the Usual protocol. Visit the Usual application site and enter your early access invite code. If you lack this code, you may find opportunities to obtain one by engaging with the Usual community on platforms such as X (formerly Twitter), Discord, and Telegram.
Follow these concise steps to complete this process:
- Visit Usual’s official app.
- Enter your invite code.
- Connect your MetaMask wallet.
- Accept the Terms and Privacy Policy.
This step is crucial as it establishes your identity within the Usual ecosystem and enables access to further functionalities.
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Step 2: Issue and Hold USD0++
Once you’ve connected your wallet, you now have the opportunity to engage with the platform by issuing and holding USD0++, which is integral to earning Pills. Here’s how to proceed:
Minting USD0
- Access Usual’s platform and navigate to the minting option.
- Choose a token type, input your desired amount, and approve the transaction. For instance, depositing 200 USDT might yield 199.89 USD0.
- Consider bonding USD0 for subsequent rewards.
By spending your USD0 to receive USD0++, you’re rewarded with 1 Pill per USD spent initially and 3 Pills for every USD held daily.
Daily Holding Rewards
The strength of this system lies in the daily rewards mechanism. By carefully managing your holdings, you not only enjoy the benefits of liquidity but can actively participate in generating your Pills over time.
Step 3: Interact with Partner Protocols (Optional)
Engaging with partner protocols is an optional yet rewarding avenue to accumulate additional Pills. Through your interactions with various associated platforms, you can earn anywhere from 1 to 3 Pills per USD on a daily basis.
Accessing the Drugstore
To discover the available partner protocols, proceed to the Drugstore section in the left panel. Here you will find:
- Available protocols
- Your position details
- Annual Percentage Yields (APYs)
- Daily Pills earned
While participation in these protocols may yield higher rewards, holding USD0++ presents a robust accumulation strategy by itself.
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Step 4: Referral Program
Referring other users to the Usual platform can significantly enhance your Pills earnings through the referral program. To access your referral code, head to the Hall section of the platform to monitor your performance and refer friends to the Usual community.
Maximizing Referral Earnings
- Share your personalized referral link within your network.
- Ensure that your referees engage with the platform.
- Earn a bonus from your referee’s Pills and from further referrals down the chain.
This multilayered referral system amplifies potential value, creating a lucrative incentive structure for fostering community engagement.
Conclusion
As you can now appreciate, Usual represents a transformative initiative within the decentralized finance landscape. Through the introduction of USD0 and the Pills campaign, it provides users with the tools and opportunities to engage earnestly in the financial ecosystem.
Participation in the airdrop process offers enticing prospects, particularly as the platform gears up for the release of the USUAL governance token.
Cautions to Consider
As with any decentralized finance project, the uncertainty inherent in cryptocurrency and airdrop processes necessitates caution. Always conduct thorough research and engage carefully before committing assets or connecting wallets.
Arming yourself with knowledge will ensure that your forays into the world of Usual are guided by informed choices, setting you on a path toward potential financial rewards amid the complexities of the decentralized finance landscape.
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