Binance announced this afternoon that it will launch the 61st new coin mining project on Binance Launchpool: the decentralized stablecoin protocol Usual (token named USUAL). Additionally, the news has spurred a short-term surge of 5.9% in the price of BNB.
(Background: SCR Mining Heats Up! Whale “Borrows $138 Million” to Dump BNB on Binance Launchpool, How is the Battle Now?)
(Supplementary Information: Is Listing on an Exchange Always Profitable? IOSG’s In-depth Exploration of Binance’s Listing Model and Reform Suggestions)
Binance exchange announced this afternoon that it will launch the 61st new coin mining project on Binance Launchpool: the decentralized stablecoin protocol Usual (token named USUAL). Furthermore, USUAL will also be listed on Binance’s pre-market.
According to Binance’s announcement, users can start staking BNB and FDUSD into the USUAL pool from 08:00 (Taiwan Time) on November 15, 2024, to participate in the four-day new coin mining event:
– Staking BNB: Reward 255,000,000 USUAL (85%)
– Staking FDUSD: Reward 8,250,000 USUAL (15%)
Mining Period: From 08:00 (UTC+8) on November 15, 2024, to 07:59 (UTC+8) on November 19, 2024.
According to Binance’s announcement, the detailed information for the SCR Launchpool is as follows:
– Token Name: Usual (USUAL)
– Maximum Token Supply: 4,000,000,000 USUAL
– Initial Circulating Supply: 494,600,000 USUAL (12.37% of total token supply)
– Launchpool Total: 300,000,000 USUAL (7.5% of maximum token supply)
– Smart Contract Network: Ethereum (0x430a2712cEFaaC8cb66E9cb29fF267CFcfA38a42)
– Restrictions: KYC required
– Personal Hourly Mining Cap: BNB Pool: 265,625 USUAL; FDUSD Pool: 46,875 USUAL
– Note: For details on how to participate in Binance Launchpool, refer to the [Complete Guide to Binance “New Coin Mining”].
Additionally, according to Binance’s announcement, USUAL will also be listed on Binance’s pre-market. The detailed information is as follows:
– Pre-Market Listing Time: 18:00 (UTC+8) on November 19, 2024
– Trading Pairs: USUAL/USDT
– Pre-Market End Time and Spot Listing Time: To be announced
– Individual Maximum Holding Limit: 40,000 USUAL (if the user’s spot holding exceeds the limit, they cannot continue to purchase in the pre-market)
– Note: This pre-market has regional participation restrictions. Due to legal and regulatory requirements, users from regions mentioned in Binance’s announcement will not be able to participate.
– Extended Reading: Binance Launches Pre-Market Trading with Exclusive Advantages, How to Use Tutorial
According to official documents, Usual is a stablecoin protocol running on the Ethereum blockchain, aiming to achieve decentralized management, transparent revenue distribution, and the introduction of RWA. The protocol is designed to be fully on-chain, allowing token holders to participate in governance, covering risk policies and asset management.
To reduce the risks associated with traditional commercial banks, Usual chooses to use ultra-short-term secure assets as collateral for the stablecoin, avoiding the impact of fractional reserve systems. The revenue generated by the Usual protocol is shared among users, and part of the governance rights is delegated to users, supporting participants in collectively deciding the direction of the protocol’s development.
Currently, Usual’s main stablecoin products are USD0 and the liquidity bonds USD0++ minted by locking USD0. For more details, refer to the official documentation.
Additionally, the official Telegram document shows that USUAL is related to the products USD0 (USD0++). Whenever new USD0++ is minted, new USUAL is issued, and these issuance amounts correspond to the protocol’s TVL and income.
Affected by the Binance Launchpool news, the price of BNB surged from $623.5 to a high of $660.4 within 20 minutes, representing a gain of 5.9%.
As of the time of writing, the price has slightly retraced to $641.9, with a 24-hour increase of 5.49%.
