Usual USD
USD0 Rank #113Price chart
What is Usual USD?
Launch and backing
USD0 entered circulation in 2024, followed by Usual's public pre-launch campaign that July. Usual Labs was founded by Pierre Person, Adli Takkal Bataille and Hugo Sallé de Chou. The stablecoin targets a value of one US dollar. Its backing consists of short-duration US Treasury instruments and other eligible sovereign collateral represented on-chain.
Minting and redemption
A direct mint deposits an approved real-world-asset token into the collateral contract. The protocol issues the corresponding value in USD0. An indirect route accepts USDC and matches the deposit with a collateral provider supplying the required reserve asset. Direct redemption returns eligible underlying collateral; converting that collateral into bank dollars can require onboarding with its issuer.
Contracts and supply
USD0 is an ERC-20 asset whose primary deployment is on Ethereum. The protocol also supports Arbitrum, Base and BNB Chain. Supply expands when accepted collateral enters the system and contracts through redemption. Its reserve-based issuance does not follow a fixed mining schedule or a predetermined numerical supply cap.
Use in the protocol
USD0 can serve as a transfer asset, a trading pair or collateral in integrated DeFi markets. Keeping USD0 in a wallet does not itself pay the yield generated by its backing. Usual offers separate savings and bonded products that use USD0 under their own terms. The bonded product is now called bUSD0, replacing the earlier USD0++ name. Protocol governance and ownership rights belong to USUAL rather than to the stablecoin.
Where to trade USD0
1 exchanges · top 10
Live spot quotes from connected exchanges
USD0 funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.