Usual Protocol
StablecoinsActive· EU

Usual Protocol

Aggregates treasury tokens into a single stablecoin. The model is simple: wrap other peoples tokenized treasuries and distribute the yield. Down from $1.8B peak, but the concept is sound.

01 /

Brief

RWA-backed stablecoin protocol aggregating tokenized T-bill tokens from multiple providers into USD0. ~$563M market cap.

02 /

Snapshot

Key terms and identifiers.

Asset classes
Treasuries
Token standards
erc-20
Regulatory
mica
Jurisdiction
EU
03 /

Connections

Who they build with, build on, integrate with.

Flow

Capital, products, and distribution moving outward.

Dependency

Where this player builds on, integrates, or relies on others.