Usual
USUAL
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
USUAL serves as the native governance token for Usual protocol, an RWA-backed stablecoin (USD0) ecosystem. The project demonstrates strong protocol development and delivery, including the release of Usual V2 in June 2026, multi-chain deployments across Ethereum, BNB Smart Chain, and Base, and backing by institutional venture capital ($10M Series A). The protocol maintains clean security audits with Halborn, Cantina, and Sherlock, and no verified hacks, depegs, or regulatory enforcement actions have occurred. However, overall evaluation is constrained by substantial insider governance concentration (50%), persistent monthly token emissions running through mid-2028, a severe unrecovered drawdown from all-time highs, and unverified grassroots engagement metrics. No qualifying red-flag events were established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Usual (USUAL)
USUAL is the native governance token of Usual, a decentralized finance protocol focused on a real-world asset (RWA) backed stablecoin (USD0) ecosystem. Launched as an ERC-20 token on Ethereum, USUAL is also deployed across bridged environments on BNB Smart Chain and Base. The protocol is designed to integrate RWA-backed collateral into on-chain finance, allowing USUAL holders to participate in protocol governance and parameter setting via a decentralized autonomous organization (DAO) framework.
The protocol's development is led by Usual Labs, which completed a $10 million Series A funding round in December 2024 backed by investors including Binance Labs, Kraken Ventures, Galaxy Venture Capital, and OKX Ventures. The protocol rolled out Usual V2 in June 2026 and operates a published audit program featuring evaluations by firms such as Halborn, Cantina, Sherlock, and Blackthorne. The protocol maintains a bug bounty program and public transparency infrastructure.
Several tokenomic adjustments and structural risks characterize the project. In November 2025, governance proposal UIP-11 reduced the total maximum supply from 4.0 billion to 3.0 billion tokens, and a restructuring retired the non-transferable USUAL* token into liquid USUAL at a 0.97:1 ratio. The token trades at a severe drawdown from its January 2025 all-time high, and the protocol's USD0++ derivative experienced an unverified liquidity and redemption crunch around the same period. Additionally, governance and emissions remain concentrated, with insiders holding 50% of governance rights and ongoing linear monthly vesting schedules extending through June 2028.