Degen

Regardless of the @usual $USUAL forced peg fiasco, which is more of a hardcoded dev error than a protocol design. I think the token design is pretty elegant, and there’s a lot to learn from it. 

For those new to USUAL, it’s essentially a traditional “decentralized Circle”, but users become owners by holding and using both the stablecoin, and the yield bearing version of it. All protocol revenues are governed by tokenholders.

- They’ve generated 11M in revenue so far. Going to the treasury governed by USUAL holders. 
- ~100k/day in Dec-Jan, up from 43k/day in Nov, and ~30k/day in Oct. 
- The growth has been inevitable. I wouldn’t be surprised to see the protocol on 100M+ revenue run rate for this year, and they are sitting at a 170M FDV.

Let’s dissect Supply and Demand dynamics for the tokens:

Product builder and investor — @socialgraphvc

kindness, compassion, forgiveness

also usdc0+ markets have been generating crazy yields today