- As the RWA-backed stablecoin launches its Pills campaign, it has swiftly entered the top 25.
On June 3, the USD0 stablecoin went live, but on July 10, it was made available to the whole public. According to DeFiLlama, USD0’s market capitalization has increased by more than 20% to $90.4 million from $74.5 million since its public launch three days ago. With its recent surge in value, USD0 is now among the top 25 stablecoins by market capitalization, trailing only Aave’s GHO.
The first Liquidity Deposit Token (LDT) from the Usual Protocol is designated as USD0. Through overnight repurchase agreements, RWAs like US Treasury Bills provide a 1:1 backing for the stablecoin.
The first Liquidity Deposit Token (LDT) from the Usual Protocol is designated as USD0. RWAs, like as US Treasury Bills, provide the stablecoin with a 1:1 backing through overnight repurchase agreements.
Part of the reason for the quick expansion is Usual’s recent Pills incentive program. Users can accrue Pills, which are similar to points, throughout the course of the following four months. These Pills can then be exchanged for USUAL, the native token of the protocol. 7.5% of the entire supply will be awarded to early users during the token generation event (TGE) in accordance with the number of Pills they earn.
Pills can be obtained by using Usual’s USD0 stablecoin to increase TVL of the protocol or to provide liquidity.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
