Binance Labs announced on December 23rd the investment in Usual, a decentralised stablecoin issuer. The move is set to reshape the stablecoin market and enhance DeFi solutions.
Through its $USUAL token, Usual aims to empower its community by redistributing value and ownership, fostering a decentralized and equitable financial ecosystem.
The announcement highlights a significant step toward innovation in the crypto industry.
Binance Labs Invests in Stablecoin Issuer Usual
On Monday, Usual announced that it had secured $10 million in a Series A funding round. Binance Labs and Kraken Ventures co-led the round, which also included other prominent investors.
This investment underscores the growing interest in projects focusing on inclusivity and decentralization within the crypto space. Usual’s approach to community empowerment and real-world asset backing differentiates it from traditional stablecoin issuers.
“Stablecoins have long served as a gateway for onboarding new users into the crypto ecosystem, and Usual’s community-first approach sets a new benchmark for inclusivity and empowerment,” said Alex Odagiu, Investment Director at Binance Labs. His statement reflects the industry’s increasing focus on creating user-centric financial models.
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Pierre Person, CEO of Usual Labs, expressed enthusiasm about the partnership. He highlighted that the investment aligns with their vision of making the stablecoin market more community-driven and technologically advanced.
Usual’s innovative model allocates 90% of its $USUAL tokens to the community, ensuring a significant level of user governance and revenue sharing.
USUAL Token’s Price Surge
Following the announcement, the price of the $USUAL token surged by over 33%, reaching $1.38. Its global market capitalization currently stands at $654.67 million, with a 24-hour trading volume increasing by 72.24%. This dramatic increase is a reflection of increased investor trust in the protocol’s potential and ambition.
Users staking BNB or FDUSD can now access Usual tokens as part of Binance Launchpool’s 61st project. A 300 million token awards pool is part of the campaign, which aims to increase user engagement and bolster Usual’s standing as a disruptive force in DeFi. This partnership between Binance and Usual aims to make stablecoins more inclusive and accessible to a broader audience.
The appeal of Usual lies in its commitment to redefining the stablecoin market. Unlike traditional issuers, it focuses on decentralization, offering its users governance power and a share in protocol revenue. This approach fosters a community-centric ecosystem that aligns with the broader goals of DeFi innovation.
Investors and crypto enthusiasts are increasingly drawn to Usual’s unique model and transparent governance. By backing real-world assets and ensuring community involvement, the protocol sets a new standard for stablecoins.
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