Binance, the leading cryptocurrency exchange, is set to launch the stablecoin USUAL on November 19, making it the first platform to support this new digital asset. The announcement was made in a notice published by Binance on November 14, revealing that USUAL will be the 61st project to be launched on Binance Launchpool. The stablecoin will be available for trading in USDT and USUAL trading pairs.
USUAL is developed by Usual Labs, a decentralized fiat stablecoin issuer backed by prominent names in the industry such as Kraken, Mantle, Starkware, and GSR, along with over 150 investors. The token will be launched on the Ethereum network, ensuring a secure and reliable platform for users.
Users can look forward to receiving airdrops of USUAL tokens in the form of BNB and FDUSD within four days of the launch. Farming for USUAL will commence on November 15 at 00:00 UTC, providing an opportunity for users to earn rewards by participating in the platform.
The stablecoin’s unique revenue-based model prioritizes its community members, as highlighted in Usual’s announcement on X. This approach aims to create a sustainable ecosystem where users can actively engage and benefit from the platform.
As per data from CoinMarketCap, the price of the Usual stablecoin has seen a slight increase of 0.08%, currently trading at $0.9991. With a market cap of $345.71 million and a total supply of 346 million USUAL tokens, the stablecoin is positioned for growth in the market.
Binance has allocated a total token supply of 4 billion USUAL tokens, with 7.5% of the supply designated for rewarding users. The initial circulating supply for the stablecoin’s listing will be 12.37% of the total token supply, amounting to 494,600,000 USUAL tokens.
Pre-market trading for USUAL will be available in USUAL/USDT trading pairs, with further details on the pre-market closing time and spot listing time to be announced by the exchange. Last week, Usual successfully completed a round of community funding, raising $1.5 million with participation from investors such as Echonomist, Breed Syndicate, and Comfy Capital.
Introduced in February 2024, the stablecoin USD0 serves as a permissionless stablecoin backed by real-world assets. Additionally, it functions as a governance token, enabling users to participate in decision-making processes regarding the network’s future development.
The launch of USUAL on Binance marks an important milestone in the digital asset space, offering users a new opportunity to engage with a stable and reliable cryptocurrency. Stay tuned for further updates on the platform’s progress and future developments.
