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Usual USD0(USUAL)

Total Value Locked$84.07m

TVL by Chain

Ethereum$84.07m

Key Metrics

Fees 30d$299,832

Fees 30d by chain

Ethereum$299,832

Fees 7d$56,215

Ethereum$56,215

Fees 24h$6,227

Ethereum$6,227

Cumulative Fees$75.92m

Ethereum$75.92m

Revenue 30d$290,801

Revenue 30d by chain

Ethereum$290,801

Revenue 7d$54,112

Ethereum$54,112

Revenue 24h$5,926

Ethereum$5,926

Cumulative Revenue$61.38m

Ethereum$61.38m

Holders Revenue 30d$102,198

Holders Revenue 30d by chain

Ethereum$102,198

Holders Revenue 7d$11,601

Ethereum$11,601

Holders Revenue 24h$0

Ethereum$0

Cumulative Holders Revenue$13.32m

Ethereum$13.32m

Market Cap$23.23m

$USUAL Price$0.012

All Time High$1.61

All Time Low$0.0075

View $USUAL token page

$23.59m

$USUAL Volume 24h$2.04m

CEX Volume$1.34m

DEX Volume$744,546(36.48% of total)

Staked$11.72m(50.43% of mcap)

Total Raised$18.5m

Apr 17, 2024$7mRound: StrategicInvestors: IOSG Ventures, Kraken Ventures, GSR, Mantle Network, Flowdesk, StarkWare, Avid3, Bing Ventures, Breed VC, Hypershere, Kima Ventures, Psalion, Public Works, 0x Ventures, LBank Labs, TRGC, Capsule Corp., Pleb Capital, Kalpha DAO, KaizenDAO, Primony, 0xSalazar, apolynya, HighStakesCap, DCF God, Nicolas Bacca, Sebastien Couture

Nov 6, 2024$1.5mRound: Community RoundInvestors: echoxyz, Comfy Capital, Jed Breed

Dec 23, 2024$10mRound: Series AInvestors: Binance Labs, Kraken Ventures, Galaxy Digital, OKX Ventures, Coinbase Ventures, Wintermute Ventures, Echo, IOSG Ventures, Fasanara Digital Ventures, Symbolic Capital, Amber Group, GSR, Psalion, Hypershere, Avid3, FunFair Ventures, LeadBlock Partners, White Loop Capital, PHAEDRUS, Krypital Group, JPEG Trading, M^0

Protocol Information

The Usual protocol is a decentralized finance framework centered around USD0, a stablecoin designed as a liquid deposit token. It embodies the principle of redistributing value generated by users through a revenue-based token, USUAL. This approach enables users to access yields while simultaneously gaining exposure to the protocol’s growth and long-term success.

Website X/Twitter

Category:RWA

Sub Category: Treasury Bills

Audits:

Methodology

TVL: TVL represents the value held by the protocol Fees: Yields from underlying assets,usual stability loan interests, total USD0 redemption fees and USD0++ early unstake fees.Revenue: Fees kept by Usual (treasury and USUAL holders), excluding the USD0 paid to sUSD0 and USD0a stakers and the Euler vault interest paid to lenders.Holders Revenue: USD0 paid to USUALx lockers from RWA yield, plus USUAL early unstake penalties distributed to USUALx stakers or burnt.

Yields

Pools Tracked6

Average Supply APY10.36%

Hacks

Date: May 27, 2025

Amount: $43,000

Classification: Input Validation

Technique: Missing Input Validation

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Invesco USTB ($597.72m)Ethena USDtb ($470.17m)Huma ($401.1m)Re ($400.68m)Anemoy Capital ($333.48m)OpenTrade ($251.08m)Plume Vaults ($231.2m)Theo Network thUSD ($132.2m)Frax USD ($106.79m)Sky RWA ($73.85m)

Income Statement for Usual USD0

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024
Gross Protocol Revenue	$68.76K	$1.08M	$2.82M	$3.26M	$6.28M	$9.34M	$25.04M	$21.84M	$5.89M	$302.32K
RWA Yield	$51.58K	$704.32K	$822.38K	$992.66K	$1.66M	$2.71M	$4.09M	$9.93M	$2.87M	$0
Early Unstake penalty	$11.6K	$311.37K	$3.37K	$227.57K	$1.09M	$2.19M	$17.59M	$10.06M	$109.51K	$0
Mint/Redeem Fees	$3.03K	$22.11K	$5.56K	$215.11K	$30.44K	$69.46K	$409.32K	$1.25M	$198.81K	$0
Assets Yields	$2.59K	$41.62K	$77.81K	$461.94K	$3.36M	$4.37M	$2.95M	$608.75K	$0	$0
Management Fees	$0	$0	$936	$3.14K	$3.32K	$1.2K	$0	$0	$0	$0
LP Fees	$0	$0	$1.91M	$1.36M	$135.07K	$0	$0	$0	$0	$0
Cost of Revenue	$2.69K	$43.42K	$80.35K	$457.37K	$3.26M	$4.23M	$2.86M	$590.41K	$0	$0
Assets Yields	$2.45K	$40.36K	$75.53K	$448.06K	$3.26M	$4.23M	$2.86M	$590.41K	$0	$0
RWA Yield To USD0 Stakers	$234	$3.06K	$4.81K	$9.3K	$5.01K	$0	$0	$0	$0	$0
Gross Profit	$66.06K	$1.04M	$2.74M	$2.8M	$3.01M	$5.11M	$22.18M	$21.25M	$3.18M	$0
RWA Yield	$51.34K	$701.27K	$817.55K	$983.36K	$1.66M	$2.71M	$4.09M	$9.93M	$2.87M	$0
Early Unstake penalty	$11.6K	$311.37K	$3.37K	$227.57K	$1.09M	$2.19M	$17.59M	$10.06M	$109.51K	$0
Mint/Redeem Fees	$3.03K	$22.11K	$5.56K	$215.11K	$30.44K	$69.46K	$409.32K	$1.25M	$198.81K	$0
Assets Yields	$76.75	$1.25K	$2.33K	$13.88K	$100.78K	$130.93K	$88.58K	$18.36K	$0	$0
Management Fees	$0	$0	$936	$3.14K	$3.32K	$1.2K	$0	$0	$0	$0
LP Fees	$0	$0	$1.91M	$1.36M	$135.07K	$0	$0	$0	$0	$0
Earnings	$66.06K	$1.04M	$2.74M	$2.8M	$3.01M	$5.11M	$22.18M	$21.25M	$3.18M	$0
Token Holder Net Income	$11.6K	$311.37K	$3.37K	$227.56K	$255.99K	$1.08M	$8.35M	$3.08M	$0	$0
Early Unstake penalty	$11.6K	$311.37K	$3.37K	$227.56K	$255.99K	$1.08M	$8.35M	$3.08M	$0	$0

Income Flow Visualization

YearlyQuarterlyMonthlyCumulative

Frequently Asked Questions

What is Usual USD0's TVL?

Usual USD0 currently has $84.07m in total value locked. TVL has decreased 6.4% over the past 30 days.

What chains does Usual USD0 operate on?

Usual USD0 operates on Ethereum. Ethereum holds the largest share at 100%.

How much has Usual USD0 generated in fees and revenue?

Over the past 30 days, Usual USD0 generated $299,832 in fees. Of that, $290,801 was protocol revenue. Based on the trailing year, the annualized rate is $12.84m in fees and $9.39m in revenue.

What is the USUAL token price and valuation?

USUAL is currently trading at $0.012. Its circulating market capitalization is $23.34m, ranking it #1,005. Its fully diluted valuation is $23.71m. Supply currently stands at 1.949b circulating, 1.98b total supply, 3b maximum supply.

How has USUAL performed recently?

USUAL is down 9.1% over the past 7 days and up 2.1% over the past 30 days. Its all-time high is $1.61, reached on Dec 19, 2024. The token is currently 99.3% below that level.

How does Usual USD0's TVL compare to similar protocols?

Among RWA protocols tracked by DefiLlama, Usual USD0 ranks #16 by TVL. The category holds $4.708b across 173 protocols, and Usual USD0 accounts for 1.8% of that total. Other leading protocols include Invesco USTB, Ethena USDtb, Huma, Re, Anemoy Capital, OpenTrade, Plume Vaults, Theo Network thUSD, Frax USD, and Sky RWA.

How many yield pools does Usual USD0 have?

DefiLlama tracks 6 Usual USD0 yield pools with an average APY of 10.4%.

Has Usual USD0 ever been exploited?

Usual USD0 has 1 recorded security incident. The most recent incident occurred on May 27, 2025 and involved $43,000. It was classified as Input Validation.