🍰 Stablecoin issuers rake in billions in fees. No slice is shared.

Usual is top 5 in fees, and the only one with both direct revenue distribution + buybacks, totaling 50%+ APY.

By locking some USUAL, you don’t just watch the cake: you get to eat it 😳

✨ Our dApp just got a transparency upgrade!

The new TVL Breakdown shows where every dollar sits and how it’s working for you. Full makeup of USD0 & ETH0, with underlying APYs, right here, no extra dashboards needed!

What should we break down next? 👀

🏛️ 40%+ APY, week after week.

$158K in USD0 distributed to USUALx lockers this week, with one-year locks still earning over 45% APY paid in stablecoins!

The steadiest revenue-sharing in DeFi: lock it or fumble it, this is your call.

🌐 11%+ APY, $5M+ TVL, zero micromanagement.

The Superstate Vault takes a sophisticated, private strategy built for institutions, and makes it farmable by degens like you 🤓

Just deposit and forget it: farm like a boomer, earn like a crypto-native.

One dollar. Only 92 cents.

📈 Usual has redistributed $18M+ to users.

Now everyone blow on their screens so we hit $20M faster 💨

Want a share? Just lock your USUAL, and you’ll feel the breeze of those revenues too.

🏛️ Nearly 50% APY. Week after week.

$158K in USD0 distributed to USUALx lockers: one-year locks are earning 49% APY.

Still the highest and most consistent real yield in DeFi 😎

The Denominator is worthless. DeFi needs an FX hedge.

The euro is entering the arena.

Coming Soon™

🏦 5% of the circulating supply bought back by the Usual DAO.

Long-term conviction. Back to building.

🏦 In Q4, we’re laying the foundations of the first community DeFi bank.

Cash. Yield. Bonds. Euros. FX.

One system. One logic. One future.

👉 Here’s what’s coming in Q4: https://usual.money/blog/road-to-usual-v2-q4-2025

🏦 DeFi runs on dollars: 99% of the liquidity is in USD. Europe’s on-chain economy barely exists.

That imbalance shapes who earns yield and who controls liquidity.

🇪🇺 It’s time to bring the euro on-chain: https://usual.money/blog/from-fx-drag-to-fx-liquidity-why-eur0-changes-the-game

🛑 Buyback mode: ON.

Another 10M USUAL bought back this week: nearly 1% of circulating supply.

Steady accumulation, real revenue and long-term conviction.

📈 DeFi needs FX: deep, native, and programmable.

With EUR0 ↔️ USD0, money finally moves across currencies without leaving the chain. Swap. Hedge. Arbitrage. All onchain.

This is a $10 trillion missing financial layer, now live.

🔥 UIP-11 is live: a structural reset for USUAL.

Supply tightens. Inflation falls. Incentives realign around real fundamentals.

A lighter system, built for stability and prepared for v2.

This is the foundation USUAL needs for sustainable growth.

Vote here: https://snapshot.box/#/s:usualmoney.eth/proposal/0x14df63cd930e222815c714287fa8f9a4cd212bb86120c7145ee7781a97ccf4d7

Join us for an AMA with Pierre on UIP-11.

🗓: Tuesday, Nov 18 @ 11:30 CET

This will be a focused session on the proposal and its impact on the next phase of the protocol.

We will walk through the changes and answer questions ahead of the UIP vote closing.

🔗: https://discord.com/events/1106588534871179280/1438506076474703953

Just 5 minutes till our AMA on UIP-11.

If you have questions or wish to discuss the proposal please join!

https://discord.com/events/1106588534871179280/1438506076474703953

📢 Liquidity Update Following UIP-11

The USD0 liquidity transition is now underway. This announcement summarizes each step exactly as it occurs.

🔹 Curve Incentives Discontinued

Incentives on the USD0/USDC Curve pool have now ended.
The dApp immediately reflects this with a 0% APY, along with a migration option for users who want to move their position or read the full update.

For existing LPs:
- 20 Nov at 02:00 UTC: pending rewards stop accruing
- 23 Nov: claimable rewards update, following the standard validation period

🔹 Transition Window — Fluid Remains Temporarily

The Fluid USD0/USDC pool will continue operating during this migration phase.
It serves only as a temporary continuity option and is not a long-term venue.

🔹 9 December — Uniswap v3 Incentives Begin

On 9 December 2025, the new Uniswap v3 USD0/USDC pool becomes the incentivized venue.
It will be available directly in the dApp, enabling deposits into the incentivized range with a smooth UX.

Fluid is deprecated on the same day, completing the transition.

🔹 Read the complete update here: https://usual.money/blog/post-uip-11-liquidity-transition

Disinflation: Resetting Pace for Long-Term Stability

The disinflation update approved through UIP-11 is now being put into effect.

It slows issuance, simplifies system mechanics, and strengthens the foundation the protocol will build on moving forward.

Over the past year, USUAL expanded quickly. Demand grew, product direction became clearer, and fundamentals improved. But emissions were rising faster than usage, and incentives built for bootstrapping created persistent sell pressure.

Disinflation corrects that.
It shifts the protocol from high-velocity expansion to a more durable, sustainable structure.

The adjustment includes:

1. Daily emissions reduced by over 50%

2. Roughly 90% of farming-driven sell pressure removed

3. USL converted into a zero-coupon model

4. A fixed, finite supply of 3B USUAL

5. Cleaner USD0++ behaviour for predictable integrations

6. A trade-off from short-term activity toward long-term system health

These changes address a central community question around why strong fundamentals were not reflected structurally.

Disinflation provides the answer by tightening issuance, removing extraction loops, and allowing fundamentals to speak again.

This update also sets the conditions required for the protocol’s next phase, where token design supports the product rather than defines it.

USUAL now moves into a more deliberate, stable operating mode.

Disinflation is the first step.

Read more here: https://usual.money/blog/disinflation-resetting-the-pace-for-long-term-stability

📢 USD0a is now live — Enhanced Yield on Usual

USD0a is now available in the app, allowing everyone to expose their USD0 to a new, more profitable delta-neutral strategy. Additionally, USD0a can be minted with other stablecoins including USDC.

Unlike USD0, whose collateral is exposed to short-term T-Bills, USD0a directs its collateral toward a hybrid strategy composed of regulated products and delta-neutral strategies offered by various regulated actors such as Superstate. The majority of the yield generated comes from arbitrage strategies between fixed-maturity futures and spot prices. This arbitrage creates yield opportunities that can beat the risk-free yield rate.

The experience is intentionally simple. You mint with USD0 or USDC, and the system follows the same mechanisms every time. When liquidity is available, redemptions in USD0 or USDC settle immediately. When activity is higher, withdrawals go through a short documented queue that maintains the order of the process without compromising the user experience.

The yield increases the token's value, reflecting the value generated each day.

USD0a exists autonomously within the ecosystem. It does not depend on USD0 in its fundamental flows; rather, it introduces a dedicated yield path for users seeking stability, both in returns and in mechanics. The valuation model is transparent, the behavior is predictable, and the yield source is clear from end to end.

You can mint USD0a now at: http://usual.money

🗓Here’s what happened at Usual this month:

- Introduced the new Product Suite across Savings, Alpha, and Bonds.

- Launched $sUSD0 and $sEUR0 as the first Savings products, presenting Savings Mode as a simple, easy-to-consume way to earn on $USD0 and $EUR0.

- Launched the Cash and Carry product ($USD0a), introducing Enhanced Yield Mode.

- Integrated Superstate $USCC as part of $USD0a’s product design.

- Ratified the DAO Disinflation Proposal, completing a major tokenomics overhaul.

- Cut and burned 25% of max supply and reduced daily selling pressure by 85%.

- Reduced the USL borrowing rate from 5% to 1.5% APY.

- Continued $USUAL buybacks. More on this shortly.

- Held a community AMA with Pierre covering proposed protocol changes and what to expect going forward.

- Improved the communication flow across Discord with clearer feedback and response channels.

- Managed the one-year cliff investor vesting event, a major liquidity milestone now behind us.