$USUAL
Usual's flagship product is the stablecoin USD0, which is backed by US Treasury bills and guaranteed to maintain a price of 1 USD. The staking version of this coin, USD0++, allows users to lock their assets for 4 years and receive interest in the form of the USUAL governance token.
Previously, users could still freely convert between USD0 and USD0++, but recently Usual decided to change the exchange rate between the two assets, when now 1 USD0++ can only be exchanged for 0.87 USD0. This means that the staked assets of participants have evaporated by 13% for unknown reasons
Instead, to receive USD0 back with the value of 1 USD, USD0++ holders need to wait 4 years until the staking period expires.
Although the Usual team said the above change had been prepared since October, it seems that many investors in the stablecoin protocol were completely surprised by this information and were caught off guard, leading to a sell-off of USUAL. How do you fellow holders feel about this token? Is there a shark who is taking the risk of pushing the stock?
Usual's flagship product is the stablecoin USD0, which is backed by US Treasury bills and guaranteed to maintain a price of 1 USD. The staking version of this coin, USD0++, allows users to lock their assets for 4 years and receive interest in the form of the USUAL governance token.
Previously, users could still freely convert between USD0 and USD0++, but recently Usual decided to change the exchange rate between the two assets, when now 1 USD0++ can only be exchanged for 0.87 USD0. This means that the staked assets of participants have evaporated by 13% for unknown reasons
Instead, to receive USD0 back with the value of 1 USD, USD0++ holders need to wait 4 years until the staking period expires.
Although the Usual team said the above change had been prepared since October, it seems that many investors in the stablecoin protocol were completely surprised by this information and were caught off guard, leading to a sell-off of USUAL. How do you fellow holders feel about this token? Is there a shark who is taking the risk of pushing the stock?
