OKX Ventures Supports Decentralized Stablecoin Innovation with Usual Protocol

user avatar

by Giorgi Kostiuk

2 years ago

OKX Ventures, the investment arm of the global cryptocurrency exchange OKX, has invested in Usual Protocol, a decentralized stablecoin issuer pioneering a unique financial model.

OKX Ventures Investment in Usual Protocol

OKX Ventures announced its involvement with Usual Protocol, stating that it aligns with their commitment to support projects that bridge traditional and decentralized financial technologies. Dora, the founder of OKX Ventures, expressed confidence in Usual developing into the new infrastructure that fuels long-term value creation for global decentralized finance.

We are excited to support USUAL in becoming the 'new infrastructure' that drives the long-term value creation and growth of global decentralized finance.Dora

Usual Protocol's Unique Model

Usual Protocol stands out in the stablecoin landscape by integrating decentralized governance in its issuance process and backing with real-world assets, notably U.S. Treasury Bills. This approach differentiates it from traditional stablecoins like USDT and USDC, allowing users to share in the protocol’s growth and future development.

Market Impact and Prospects

Currently, the USUAL token has a market capitalization of $635 million, with a trading volume of $964 million in the past 24 hours. The token's price has increased by 31.4%, now trading at $1.32. OKX Ventures has a fund size of $100 million and a portfolio that includes blockchain infrastructure and DeFi projects such as Sei Network, Arbitrum, and zkSync. The addition of Usual Protocol emphasizes their focus on impactful initiatives poised to transform the blockchain industry. Notably, this investment move adds OKX to the list of crypto exchanges supporting the protocol, along with Binance, which offered early access to the USUAL/USDT trading pair.

OKX Ventures' investment in Usual Protocol highlights their dedication to supporting innovative decentralized financial solutions with the potential to impact the global financial landscape.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Ecosystem Tokens Outperform Broader Altcoin Market

chest

Recent performance benchmarks indicate that Solana ecosystem tokens are outpacing the broader altcoin market, highlighting the active internal rotation within the network.

user avatarSon Min-ho

Arbitrum Achieves $814 Million in Daily DEX Volume

chest

Arbitrum has recorded an impressive $814 million in daily decentralized exchange volume, showcasing strong activity on the Ethereum Layer2 network.

user avatarAyman Ben Youssef

Securitize Enhances Tokenization Framework for Public Equities

chest

Securitize has enhanced its framework for tokenizing public equities, contributing to the integration of traditional assets into blockchain infrastructure.

user avatarTando Nkube

Significant Surge in Dogecoin Network Activity

chest

Significant surge in Dogecoin network activity with a 35% rise in active addresses and daily transactions exceeding 12 million.

user avatarKofi Adjeman

XRP Ledger Reaches 3 Billion Transactions Milestone

chest

The XRP Ledger has achieved a remarkable milestone by crossing 3 billion cumulative transactions.

user avatarNguyen Van Long

Cardano's Blockchain Verification Infrastructure Deployed by Major Retail Group

chest

A major retail group has successfully deployed blockchain verification infrastructure built around Cardano's ecosystem, enhancing the verification of authenticity, origin, and sustainability claims within supply chains.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.