#usual

#From Golden Shovel to Zero Coin Usual

Families who need to unlock in advance, don't forget the time window, from January 27 to February 2

Current price (2026.01.31): approximately $0.021 - $0.026.

Historical high (2024.12): approximately $1.60 - $1.62.

Decline: down over 98% from the historical high, and also down about 95% from the $0.41 level at the beginning of 2025.

Usual claims to be backed by US Treasury bonds (RWA), but users ask: "Why don't I just go to Coinbase to get 5% interest on USDC in a savings account, or buy BlackRock's BUIDL, instead of risking detachment to earn a bunch of governance tokens that are about to go to zero?" This question has yet to be answered by Usual.

Conclusion: Usual has almost no potential for a turnaround and is gradually becoming a 'zombie' asset.

Why is there no potential?

1. Crowded track: The stablecoin track is a winner-takes-all. Tether (USDT) and Circle (USDC) occupy 80-90% of the market share, while Ethena occupies the 'high-risk, high-reward' ecological niche. Usual is stuck at the low end: it is neither safe enough (with liquidity loss risks) nor profitable enough (coin price collapse).

2. Token economics failure: $USUAL is purely a 'governance token'. In a bear or volatile market, governance tokens without dividend rights are worthless. The team has frequently changed governance rules, losing user trust and faith in future vision.

Possible turning point:

If the FDV drops to an extremely outrageous level of 30 million (currently FDV 60 million), or even below the liquidation residual value of its treasury, there may be giant whales engaging in mergers or restructuring speculation. But this is no different from gambling.

Usual is a typical 'issuing tokens for the sake of issuing tokens' RWA project. It complicates the simple act of buying US Treasury bonds, kidnapping user liquidity through a complex lock-up mechanism ($USD0++) and ultimately leading to the collapse of the entire incentive system due to the value return (zero) of the governance token $USUAL.