Usual Protocol Implements Key Changes for Stability

by Giorgi Kostiuk

a year ago

Usual Protocol has introduced changes to its mechanism to boost trust and increase sustainability.

USD0 Peg Issues

Recently, the USD0 stablecoin lost its peg to the US dollar, causing concerns among Usual Protocol's users.

1:1 Early Payout Option

Starting next week, Usual Protocol will offer a 1:1 early payout option. This feature allows users to forfeit a portion of their accumulated rewards and use their assets at a 1:1 ratio. The maximum payback period is six months, addressing liquidity concerns.

Weekly Revenue Distribution

The protocol has decided to activate its revenue distribution mechanism earlier than planned. Starting Monday, Usual will distribute revenues to USUALx holders weekly, in USD0. Monthly revenues are expected to be around $5 million, corresponding to an APR of over 50% in current conditions.

To address concerns and ensure the sustainability of the protocol, the activation of the revenue switch will be brought forward. Starting Monday, Usual will begin distributing revenues to USUALx holders in USD0 on a weekly basis, with monthly revenues anticipated to be approximately $5 million.

These changes are aimed at enhancing trust in the Usual Protocol and supporting its future sustainability.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Ripple Prime Expands Offerings with Access to Crypto Derivatives on Coinbase

Ripple has announced that its Ripple Prime clients now have access to crypto derivatives on Coinbase, including futures contracts for Bitcoin, Ethereum, XRP, and Solana.

Gustavo Mendoza8 minutes ago

Ripple Unveils Prime Broker Model to Enhance Institutional Trading with XRP

Ripple has unveiled a new whitepaper detailing its Prime Broker model, which aims to enhance institutional trading infrastructure using XRP.

Rajesh Kumar8 minutes ago

Nevin Shetty Sentenced to Two Years for Fraudulent Diversion of Company Funds

Nevin Shetty was sentenced to two years in prison for diverting $35 million from his employer to his DeFi platform, resulting in significant losses and layoffs.