Usual, a decentralized stablecoin protocol, has successfully raised $10 million in a Series A funding round. The funding round was led by Kraken Ventures and Binance Labs, with participation from other venture capital firms and industry leaders.
Usual aims to blend the security of real-world assets with the composability and liquidity of decentralized finance. The protocol has experienced rapid growth on Ethereum and is focused on creating financial opportunities beyond traditional yield generation.
The funding will support Usual's expansion into centralized finance and enhance its value redistribution model. Usual has allocated 90% of its token distribution to users and is actively trading on Binance's spot market. The protocol has strategic partnerships with projects like Ethena and Securitize.
Usual has adopted an alternative collateral structure, M^0, to enhance the stability of its stablecoin, USD0.
As Usual continues to innovate in the DeFi space, it aims to redefine the role of fiat-backed stablecoins and create a more inclusive financial landscape.
With its impressive Total Value Locked (TVL) and strategic partnerships, Usual is well-positioned to make a significant impact in the decentralized finance industry.