#
๐ฌใgeneral
Join the general discussion about Usual. Exchange ideas, ask questions, and share your thoughts on the underlying technology, use cases, market trends, and more. No price talks here!Page 2 of 74
andrewdubai
dump everything
dv
true
Mr. Lin
Hello ser, thanks for pinging me - a lot to catch up on discord so the early redemption on usd0++ mainly depends on two factors (as stated in our whitepaper) 1. The current USUAL rewarded per USD0++ 2. The cumulative weekly net outflows And therefore we are also actively observing on how things will move going forward. For any mathematician out there, you should be able to speculate using dune stats.
ravished
script has been flipped
i really not sure how they gonna calculate "accrued yields" since they are too much different people in this market( who buying recently, ptholder, yt hodler etc)andrewdubai
it will be a messy situation
ravished
incorrect, Usual stakers win as well and you can stake now
chasercat
i really not sure how they gonna calculate "accrued yields" since they are too much different people in this market( who buying recently, ptholder, yt hodler etc)
Can you provide details about the criteria for the "portion of accrued yields" in the 1:1 redemption?
Aeoluz
Would it be a portion of the 7 day accrued rewards?
So, if I understand correctly, USD0++ is not worth 1 USD now, but everyone who used Pendle got screwed?
So, if I understand correctly, USD0++ is not worth 1 USD now, but everyone who used Pendle got screwed?chasercat
i guess so... yt holders seem irrelevant, but pt holder does. i hope they are not gonna charge redemption fee for pt holders if in that case pendle user doesnt affected
DORA
Can you provide details about the criteria for the "portion of accrued yields" in the 1:1 redemption?
So, if I understand correctly, USD0++ is not worth 1 USD now, but everyone who used Pendle got screwed?
Mava (AI Support)
USD0++ is a boosted version of USD0, and its value can differ from 1 USD depending on market conditions and yield mechanisms. However, users on Pendle should not feel 'screwed' as USD0++ can still be swapped for USDC on DEXes. The value of USD0++ is tied to its yield and maturity, and users should be aware of these factors when engaging with it.
Mava AI Beta
jem
@Mr. Lin please answer about how early unstaking will work? How much yield do we need to forfeit
bidom_
So, if I understand correctly, USD0++ is not worth 1 USD now, but everyone who used Pendle got screwed?
ravished
curve has a very liquid pool from usd0
andrewdubai
cowswap is better and cheaper compared to uniswap
Mr. Lin
LMAO
kiratsunami
please tag me or send me a dm when you will have an answer
bitgoten
yeah + misleading communication before to bait farmers in
kiratsunami
I think is not an answer ...
Mr. Lin
i think its usd0
DORA
The team isn't even sticking to what's written in the whitepaper right now ๐ฉ
chasercat
so if im buying usd0++ by now and early unstake by next week do i have to pay the prices for 1week yields?
ravished
1s, lol
bitgoten
it's all in the whitepaper bro ๐คฃ
So, if I buy USD0++ now for $0.9, does that mean I can do early unstaking next week and get $1 almost for free?chasercat
im really curiosu about this, how they calculate the penalty?
DORA
The team needs to quickly provide more specific details about the early unstaking. ๐ข
So, if I buy USD0++ now for $0.9, does that mean I can do early unstaking next week and get $1 almost for free?jem
Technically but I won't risk it
kiratsunami
@Mr. Lin is the fee switch going to be paid in usd0 or usd0++ lmao
Quinn
coingecko
@User Not Found "you may forfeit a portion of the yields you have already earned."
How long does it refer to? Calculated as the cumulative rate of return from the beginning of the program's existence, or the time the user has been enrolled in the programDORA
So, if I buy USD0++ now for $0.9, does that mean I can do early unstaking next week and get $1 almost for free?
ravished
whats the best place to chart USD0++ I can't find it on tradingview
jem
Right, so that means if I stake today and do an early unstaking 7 days later, I will have to give up 7 days of yield right?
BM
@User Not Found "you may forfeit a portion of the yields you have already earned." How long does it refer to? Calculated as the cumulative rate of return from the beginning of the program's existence, or the time the user has been enrolled in the program
But for investors who have only participated in Usual for a few days, if half a year's yield needs to be deducted, this is also a considerable loss.jem
Well bot answered saying the yields you already accrued. So seems fine to me.
reverbb
he's got almost $1m in PT as collateral and $700k usdc borrowed
andrewdubai
but you can buy spot
There's a wallet that's been aggressively looping March PT's for the past hour. Does he know something that we don't?andrewdubai
it's the biggest pool and the price is 0.92, he is trying to hedging his position
@Mava (AI Support) the early unstaking feature says accrued yields. It means whatever I've earned so far right? Not future yields?Mava (AI Support)
Yes, the early unstaking feature refers to the yields you have already accrued, not future yields. When you choose to unstake early, you may forfeit a portion of the yields you have already earned.
Mava AI BetaBM
But for investors who have only participated in Usual for a few days, if half a year's yield needs to be deducted, this is also a considerable loss.
jem
@Mava (AI Support) the early unstaking feature says accrued yields. It means whatever I've earned so far right? Not future yields?
There's a wallet that's been aggressively looping March PT's for the past hour. Does he know something that we don't?
transrelocation9
if the volume is significant it would suggest so, no logical reason otherwise
I check Debank I have 826 Usual but when I try to unstake Usualx to Usual it shows only 820 Usual before unstaking?Mava (AI Support)
When you unstake USUALx to USUAL, the amount of USUAL you receive may be less than expected due to fees or other factors. It's important to check if there are any fees associated with the unstaking process that might account for the difference.
Mava AI Betachasercat
i think h e down bad by now
EricHuynh
I check Debank I have 826 Usual but when I try to unstake Usualx to Usual it shows only 820 Usual before unstaking?
reverbb
There's a wallet that's been aggressively looping March PT's for the past hour. Does he know something that we don't?
wj4728
0.87 or more is not smart. the bottom line is 1 or more. are you agree ?
Conditional Exit: 1:1 redemption requiring forfeiture of a portion of accrued yields.
-----------------------
"a portion of accrued yields. "
accrued not future yields right?jem
The wording sounds like accrued yields only
In Early Unstaking Mechanism, how much USUAL should I return to redeem USD0++ for USD0? How do I calculate it?jem
Have the same question. Or do we just forfeit whatever USUAL tokens we've earned?
BM
Conditional Exit: 1:1 redemption requiring forfeiture of a portion of accrued yields. ----------------------- "a portion of accrued yields. " accrued not future yields right?
Beatycutie
If we deposit in Usual Bera Vault what we get after exiting vault?
I stake 795 Usual but only gain 2.75 Usual per day which is equivalent to 126% interest. Is the estimated interest rate 214% correct?
PECK (๐ซ๐งข)
214% APY is 114% APR approx
I stake 795 Usual but only gain 2.75 Usual per day which is equivalent to 126% interest. Is the estimated interest rate 214% correct?andrewdubai
this is the USUAL formula, is stated 214% but it means 126%
I stake 795 Usual but only gain 2.75 Usual per day which is equivalent to 126% interest. Is the estimated interest rate 214% correct?Mava (AI Support)
The estimated interest rate of 214% might not be accurate if your daily gain is 2.75 Usual, which you calculated as 126% interest. It's possible there is a discrepancy in the calculation or the rate provided. Please verify the interest rate details or consult Usual's support for clarification.
Mava AI BetaEricHuynh
I stake 795 Usual but only gain 2.75 Usual per day which is equivalent to 126% interest. Is the estimated interest rate 214% correct?
kiratsunami
attends je suis entrain de faire mes dรฉmarches pour etre naturaliser, une fois que je deviens Francais j pourrais voter avec toi
andrewdubai
too much fun
Usual
EricHuynh
I staked Usual in the app but I don't see the profit increase, can anyone help me?
nein
c quoi le truc lโhistoire ct pas un negre qui vivait dans une maison en carton
nein
pirouette cacahouรจte
nein
why not
Usual
nein
please donโt ask him that
kiratsunami
how d f uck do you know this
nein
please saar have mercy i live in deira
andrewdubai
just buy USD0++ and you will be rich
kiratsunami
Im a poor non Duabi resident unlike you sir
RMiaoQ_-
why 0.87
ravished
Staking usual
andrewdubai
cmon you know the difference
The team clearly said, "USD0++ can be unstaked at any time before the early unstaking feature is implemented." So, if the early unstaking feature is being launched next week, shouldnโt unstaking be possible this week?The team clearly said, "USD0++ can be unstaked at any time before the early unstaking feature is implemented." So, if the early unstaking feature is being launched next week, shouldnโt unstaking be possible this week?Mava (AI Support)
Yes, you should be able to unstake USD0++ this week before the early unstaking feature is implemented next week. The current system allows for unstaking at an almost 1:1 rate until the new feature is live.
Mava AI Betakiratsunami
bro why Dubai and not Abu Dhabi ?
DORA
The team clearly said, "USD0++ can be unstaked at any time before the early unstaking feature is implemented." So, if the early unstaking feature is being launched next week, shouldnโt unstaking be possible this week?
kiratsunami
nien monsieur nein
nein
i found an exploit to redeem ur USD0++ for USD0
andrewdubai
if you have a better yielding opportunity please share
nein
send it to me
lil m
But 4 years ago lot can happen, protocol can blow up and all that
CryptoUncle
usd0++ how can 1:1 to USD0๏ผ
nein
what a steal!? omg this is the deal of the year
andrewdubai
no as it stated in the doc
lil m
If you get like 20 percent apr on average in usual you are basically doubling your money somewhat risk free
Mava (AI Support)
The floor price for USD0++ is currently set at 0.87:1, and it is designed to gradually converge to 1 USD over time. This mechanism is in place to maintain market stability and incentivize participation in the ecosystem. However, the DAO reserves the authority to adjust the floor price as needed to support the protocol's sustainability.
Mava AI Betaravished
I'm just asking what the trade alpha is
sevencoin
Will the 0.87 floor price change to even lower?
ravished
I know its a bond
kiratsunami
its like buying a bond
kiratsunami
yep
ravished
What is the point of buying usd0++ at .87 if it takes four years to get to 1?
I think this is the key here, really not sure how I feel about it just being silently enabled. I understand it was always going to happen but I just assumed given how good the team has been so far there would have been some kind of indication it was imminent.bitgoten
yeah exactly, the goal was probably to trap the TVL. malicious team.
nein
lmao
I think this is the key here, really not sure how I feel about it just being silently enabled. I understand it was always going to happen but I just assumed given how good the team has been so far there would have been some kind of indication it was imminent.kiratsunami
guys are there any other stuff we should keep eye on ???
spicytuuna
UST0--
JackNorris
I think this is the key here, really not sure how I feel about it just being silently enabled. I understand it was always going to happen but I just assumed given how good the team has been so far there would have been some kind of indication it was imminent.
nein
broskie ainโt deploying shiit
nein
ptdrrr
nein
double it and give it to the next person
andrewdubai
and we are ready!
kiratsunami
bro I have BTC how can I make money out of it
nein
the one that helped us find the WIO ATM
nein
andrewdubai
๐คฃ
nein
bro is lending btc for 1% apy
andrewdubai
done, now bridging
nein
liquidate the security guy
nein
can yall buy me some USD0++ at 0.87$ im on my phone canโt do shiitt
andrewdubai
ready to fill the bag
nein
BRUH
they get 1/3 of all the reedeming of usd0++
0.13*1.61 = 200m
they secured for themselves 66m lmao
Dave.race
Where does the other 2/3 go?
Magic Pan
Let's see how USUAL performs. It dumped so much these days.
kiratsunami
I want to come but only if there are baddies
andrewdubai
who said that I live in villa, I am the security guy
nein
invite me in ur palm jumeirah villa bro stop being a brokie
andrewdubai
close to 0.87
kiratsunami
bro I feel your pain
andrewdubai
0,923
Howard
what now usd0++ depeg %?
kiratsunami
yep
kiratsunami
they have their bag filled
lil m
I bought usd++ for 1 dollar like 2 days ago lmao
chasercat
so looper
nein
I SEE you
lil m
Can you explain what the arbitrage would be?
they get 1/3 of all the reedeming of usd0++
0.13*1.61 = 200m
they secured for themselves 66m lmaoandrewdubai
correct, I did the same calculation and this is the worst scenario btw
chasercat
yep thats the good parts for now. but ... im not sure whether ihave to hold it or not
So basically USD0++ PT holders will suffer a loss; while YT holders anyway only assume to get USUAL token. The USD0++ depeg won't impact YT holders.kiratsunami
YT holders (chads ) vs PT holders (virgins)
Magic Pan
The biggest loser is Morpho looper
Neas
at least you didnt loop/leverage
Neas
yup
chasercat
so if im a pt holder im pretty much rekted right?
So basically USD0++ PT holders will suffer a loss; while YT holders anyway only assume to get USUAL token. The USD0++ depeg won't impact YT holders.andrewdubai
pendle works in this way, so yes
Magic Pan
So basically USD0++ PT holders will suffer a loss; while YT holders anyway only assume to get USUAL token. The USD0++ depeg won't impact YT holders.
chasercat
i think pt holders gonna give up not only the usual but also the redemption fee too
dv
Seems like even your AI is confused about what is a bond lol
kiratsunami
of course they are
dv
what is this actually true ? @Noรฉ @Mr. Lin
chasercat
?
andrewdubai
I am not sure
Mava (AI Support)
PT holders are safe because the USD0++ value is 1:1 with USDC, so they do not pay a redemption fee when exiting into USD0.
Mava AI Beta
chasercat
in early unstaking mechanism , does pt holder pays for the redemption fee?
michael
please buy as much as possible then
ravished
The alpha is in staking usualx FDV/TVL is 1.64 for usual, usd0++ locked, 60% usd0 apy, 210% usual apy
Bottom line: If you do decide to invest with us for the long term (6 months+), you will definitely profit.
There's also interesting arbitrage opportunities for usd0++ if you haven't joined the party yet.
The announcement is, essentially, redirecting some of our revenues from usd0++ to usualx holders. The usual price might be quite interesting going forward.
Baracuda5000
hehe
CanCOKE
In Early Unstaking Mechanism, how much USUAL should I return to redeem USD0++ for USD0? How do I calculate it?
if i can buy USD0++ now on open mkt for .95 and convert it next week for USD0 (assuming it's pegged still) that's 5% return... i don't really care about any accured interest in those few days. what am i missing?reverbb
please buy as much as possible then
My pendle Yield Token (YT) value is not accurate on Usual's dashboard, how can I confirm the actual value?Mava (AI Support)
The discrepancy in value could be due to the YT value decreasing or changing, along with any applicable Pendle YT fees. To confirm the actual value, you may want to check directly on the Pendle platform where the YT is being managed.
Mava AI Beta
Bottom line: If you do decide to invest with us for the long term (6 months+), you will definitely profit.
There's also interesting arbitrage opportunities for usd0++ if you haven't joined the party yet.
The announcement is, essentially, redirecting some of our revenues from usd0++ to usualx holders. The usual price might be quite interesting going forward.
Incarna
Why six months?
Mahashmashana
My pendle Yield Token (YT) value is not accurate on Usual's dashboard, how can I confirm the actual value?
dv
lots of people who bought or looped recently might have lost 50% or so
reverbb
they want to make sure price of usual holds up, they don't care if usd0++ tanks
dv
lost 25% today. overall with the airdrop still profitable but obviously this is massive crime by the team.
reverbb
team holds usual* not usd0++ so this makes sense
digitaldaikon
ah yes, that arbitrage, agree
andrewdubai
Can I be part of the team and take arbitrage opportunity as well?
Pri
Where are the docs on the early redemption mechanism? There is nothing in the smart contracts
Bottom line: If you do decide to invest with us for the long term (6 months+), you will definitely profit.
There's also interesting arbitrage opportunities for usd0++ if you haven't joined the party yet.
The announcement is, essentially, redirecting some of our revenues from usd0++ to usualx holders. The usual price might be quite interesting going forward.digitaldaikon
where's the arbitrage bc i just see the numba going down fren
andrewdubai
yes
hi i have a question about the early unstaking , how gonna pt buyer pays for the early unstaking penalty?Mava (AI Support)
The early unstaking feature for USD0++ is not live yet, so currently, there is no penalty for early unstaking. Once the feature is implemented, users will be able to unstake their USD0 early by burning their accumulated USUAL yield. A portion of the burned USUAL will be shared with USUALx holders. Reference: 1
Mava AI BetaMr. Lin
Too early to tell
ravished
But you get the usual emissions
chasercat
hi i have a question about the early unstaking , how gonna pt buyer pays for the early unstaking penalty?
Mr. Lin
Will need to see how the pricing of usd0++ plays out ser
Bottom line: If you do decide to invest with us for the long term (6 months+), you will definitely profit.
There's also interesting arbitrage opportunities for usd0++ if you haven't joined the party yet.
The announcement is, essentially, redirecting some of our revenues from usd0++ to usualx holders. The usual price might be quite interesting going forward.kiratsunami
what are these arbitrage opportunities
Mr. Lin
Correct!
lil m
Gonna get god damn liquidated on my aave position though being locked out of these stables lol.
ProtocolZ
Whales are in charge ofc, maybe theyโll have it lowered again and arbitrage like wild
Mr. Lin
Bottom line: If you do decide to invest with us for the long term (6 months+), you will definitely profit. There's also interesting arbitrage opportunities for usd0++ if you haven't joined the party yet. The announcement is, essentially, redirecting some of our revenues from usd0++ to usualx holders. The usual price might be quite interesting going forward.
ravished
Isn't it like max 13% in four years?
lil m
That might be right yes
andrewdubai
buying usd0++ close to floor price is the best yielding opportunity atm
Mava (AI Support)
No, you do not have to wait 4 years to claim rewards. For USD0++, rewards accumulate daily, but there is a 7-day period before you can claim them. However, the USD0++ itself has a 4-year lock-up period for the principal.
Mava AI Betalil m
And in the meantime you get the usual rewards to mske up for it correct? You can just claim these in the meantime?
On the "conditional exit" being released next week, what portion of accured fees are forefeited to redeem back to USD0 1:1? it doesn't mention the exact amount in the blog post...Mava (AI Support)
The exact portion of accrued fees that will be forfeited for the conditional exit to redeem back to USD0 1:1 is not specified in the documentation. It is dynamically adjusted based on supply and demand.
Mava AI BetaBaracuda5000
On the "conditional exit" being released next week, what portion of accured fees are forefeited to redeem back to USD0 1:1? it doesn't mention the exact amount in the blog post...
ravished
What's the deal on TVL I thought it was locked already
Can someone explain me hoe my usd++ is still worth a dollar even though its worth 0.87 cents now. I just changed like 60k. Usd0 into usd++ 2 days ago. Is that now with 13 percent less? In comfused. Can someone ecplain this to me like in 5 years old?Mava (AI Support)
USD0++ is like a special savings account that you lock up for a long time, like 4 years. Right now, if you want to take your money out early, you might get less than you put in, like 0.87 cents instead of a dollar. But if you wait until the end of the 4 years, you should get back the full dollar. The value can change in the short term, but it's designed to be worth a dollar when the time is up.
Mava AI Betalil m
Can someone explain me hoe my usd++ is still worth a dollar even though its worth 0.87 cents now. I just changed like 60k. Usd0 into usd++ 2 days ago. Is that now with 13 percent less? In comfused. Can someone ecplain this to me like in 5 years old?
So now i have to hold this for 4 years? How does this team have the confidence in me not loosing my wallet in the next 4 yearsandrewdubai
not their keys not their fault
ProtocolZ
Honestly Iโm just hoping for some ultra discounted USD0++ below .87, maybe a stray Mega - Whale will pull out of a leveraged position in Morpho and pour all his liquidity into Curve on the open market
michael
WTF!!!!
LavaLittleBird - Chasing
Having a green bar make me hope again ๐
nein
usd0++
JackNorris
are you talking about usual or usd0++ ?
kiratsunami
the annoucement of the new mechanism
goodboy | best good boy
Yes
So now i have to hold this for 4 years? How does this team have the confidence in me not loosing my wallet in the next 4 yearsnein
bro we dont even know if this space will still be here in 4 years
nein
?? i said im buying at 0.9
lil m
So now i have to hold this for 4 years? How does this team have the confidence in me not loosing my wallet in the next 4 years
jinmomo
What is causing the depeg
nein
just sell and sleep
Kaleo
About what
JackNorris
The floor is 0.87 by design, why would it go up that fast?
jinmomo
Can anyone explaim what happened? I'm so confused lol
nein
trust it will
kiratsunami
it was a dirtey move lmao
nein
same but i guess its part of the game lol
JackNorris
It wont
lil m
Yeah this sucks
nein
will buy back tomorrow morning when it will be around 0.9
nein
gg wasnโt ss luck as u
lil m
๐๐๐
JackNorris
yeah I insta noped out
jinmomo
Any words from the team?
JackNorris
I was expecting some kind of announcement before they enabled it to be honest
nein
rip did u sold yet
JackNorris
yes lol
lil m
๐๐ basically this hsha what the hell. Im a big holder of both usd++ and usual but i still feel rugged. The plan was to farm this usd++ next couple weeks and buy usual with it at the end of January m. But that is pretty fuuucked right now
kiratsunami
andrewdubai
waiting for rekt.news announcement
kiratsunami
that's more than half current marketcap of usual
nein
do u have usd0++ bags?
andrewdubai
1.6B *0,13 dollars = 208M
nein
JackNorris
y bully 
nein
go back to blast lmao
LOL JACK ur here
bitgoten
nice surprise stop of the 1:1 redeem to trap farmers in
kiratsunami
we aren't selling mate ^^ the % of stakers is going up and up and up you are going to make us rich lmao
andrewdubai
still we have time to buy back at floor price and get rewards
nein
if more ppl go out, you will get more rewards but your $USUAL will be worthless ^^
kiratsunami
lol no
JackNorris
Why would you activate rebasing without the redemption mechanism enabled and working?
jinmomo
So it should repeg right?
andrewdubai
TLDR: Floorprice set to 0.87
Mava (AI Support)
In extreme situations, even stablecoins like USDC can depeg. Factors such as significant market volatility, collateral crises, or extreme interest rate changes can contribute to this. Usual has conducted stress tests to prepare for such scenarios.
Mava AI Betajinmomo
Hey guys, do you know what is causing the depeg?
kiratsunami
if more ppl go out, we will get rewards ^^
Im so confused. Cant i just swap my usd++ to usd0 on curve eithout incurring this 13 cents loss and still have my rewards atm?Mava (AI Support)
You can swap USD0++ to USD0 on the secondary market, such as Curve or ParaSwap. However, USD0++ is a 4-years locked version of USD0, and its real value is higher than USD0. Therefore, swapping directly might incur some loss, especially if there is a high demand for conversion. The rewards associated with USD0++ are tied to holding it, so swapping might affect your rewards.
Mava AI Betalil m
Im so confused. Cant i just swap my usd++ to usd0 on curve eithout incurring this 13 cents loss and still have my rewards atm?
kiratsunami
exterrmly bullish for Usual token ^^
andrewdubai
now FBomb is safer than usd0++
andrewdubai
you can farm on aerodrome , still active on base
kiratsunami
yo bro stop lying to me ...
andrewdubai
MAI
kiratsunami
what token is this
lil m
Where is this early redemption feature?
Mava (AI Support)
To redeem USD0++ at a guaranteed 1:1 rate on the primary market before maturity, you would need to use the Early Redemption feature, which involves sacrificing a portion of your $USUAL rewards. This feature is not live yet, so currently, you can unstake USD0++ at an almost 1:1 rate without any penalty.
Mava AI Beta
loverdefi
Where to give away my yield for 1:1 redemption?
kiratsunami
balance : 0
loverdefi
Rekt
LOL yes it is live
lil m
When did that go live?
kiratsunami
the feature is live ?
kiratsunami
badasss
Hi there , im holding a significant amount of usd++ and dont want to be stuck in there with fines since im borrowing usdt on aave to fund my usd ++ stack. Can i still get out of this position without a fine? If yes , when do these fines start?goodboy | best good boy
no, baby
Mo
Phishing ๐จ๐จ๐จ Someone is still using USUAL name to scam thru emails. Once you follow the instructions they will take your usual staked tokens
Hi there , im holding a significant amount of usd++ and dont want to be stuck in there with fines since im borrowing usdt on aave to fund my usd ++ stack. Can i still get out of this position without a fine? If yes , when do these fines start?Mava (AI Support)
You can exit your USD0++ position through two options: Conditional Exit and Unconditional Exit. The Conditional Exit allows for 1:1 redemption but requires forfeiture of a portion of accrued yields. The Unconditional Exit allows redemption at a floor price, currently set at 0.87:1, which gradually converges to 1 USD over time. This means you can exit without a fine, but you may forfeit some yields depending on the exit option you choose.
Mava AI Betalil m
Hi there , im holding a significant amount of usd++ and dont want to be stuck in there with fines since im borrowing usdt on aave to fund my usd ++ stack. Can i still get out of this position without a fine? If yes , when do these fines start?
sandt
Everyone becomes happy when everyone places a short bet.
andrewdubai
Neas
lol what fees gas is at 4 gwei
kiratsunami
they are looking for developers maybe I should send them my application
andrewdubai
๐คฃ you never know. just saying
kiratsunami
I'm not part of the project lmao
andrewdubai
but I am tired of Ethereum fees, next time please code everything on Base
me too until the exit is fixed to 0.87 and I can DCA paperhands
kiratsunami
I will buy again and again and again I believe in this project
andrewdubai
DCA a stablecoin is something new for me
kiratsunami
usd0++ is not a stable coin, usd0 is ...
well it didn't start yet, if ppl flee now we are doomed
this is yes their last chance to flee otherwise they need to pay the fees
hella bullish for the usual coin ^^andrewdubai
buy lower it's good way to get back
kiratsunami
well it didn't start yet, if ppl flee now we are doomed this is yes their last chance to flee otherwise they need to pay the fees hella bullish for the usual coin ^^
andrewdubai
USD0++ is the last one, still in MAI for a small portion, USDZ dumping and breaking the peg twice
I did USDe, USDZ, MAI, CHI (destroy the peg), DOLA and minor stablecoins
ravished
How can TVL go down if redemptions are locked for four years
kiratsunami
how will you be able to do it
Wismerhill
USD0 is the stablecoin, USD0++ is the bond.
andrewdubai
I drop more than 20M there, stil waiting to hedging more
kiratsunami
I was going to drop 8K of my father in usd0++, now thinking about it glad i didn't
andrewdubai
good lessons to learn here for future stablecoin implementation
kiratsunami
tbh hhhhhhhhhhhhhhhhh they did usd0++ dirtey lmao
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.kiratsunami
oh so you just copy pasted the message two times, I said to myself its two different ppl mocking someone from twitter or som
Arson
๐ฅน
Arson
3.25% every year. reasonable
andrewdubai
as a wise man said: "we are selling to willing buyers at the current fair market price"
Bagus
this is my model , they copied me
kiratsunami
exactly yep
Bagus
wdym
Arson
it will only be higher
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.kiratsunami
you are copy pasting this message, where did you see it first time here in chat or you are mocking someone from twitter ?
andrewdubai
it's so funny
Arson
basically, 0.87 is the min price
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.
kiratsunami
not really because its a pool, 45% of all minted usuals are given to usd0++ holders
Wismerhill
USD0++ is a strong asset it will recover I have no doubt about this the team is solid and the model is unbreakable. WAGMI.
kiratsunami
the market has to correct itself, thus you just wait until things be stable again
andrewdubai
we are 8% far, don't be so greedy
Dave.race
Not on DEXes (unless it's already that low?)
Dave.race
But you risk USD0++ going back higher if more people want to mint than exit
kiratsunami
I don't think so, the correction is still on
pagliam135
it is u instantly lose 13% unstaking
andrewdubai
the floop price is the guarantee we cannot go lower and this value will be updated over the time
kiratsunami
exactly sell now and buy later
kiratsunami
lmao
andrewdubai
buying now is also good
this is the tricky part, this amount can be designed in a way where the price of USUAL match the amount needed to redeem the USD0++ with a better rate on exitDave.race
Yes, hopefully it will
Dave.race
It's not too late to sell. Maybe you can buy back later at -13%
The amount of USUAL to pay is between 0 and 6 months of rewards. I don't know if we have more information than thatpagliam135
so anynoe who has usd0++ just got really buttjammed
kiratsunami
they think that since we have machines we are going to record everything, even when you bought your usd0++ and give different price to each token lol that's crazy painfull
Dave.race
Hopefully it aligns with the floor price (or even makes the floor price a bit higher)
The amount of USUAL to pay is between 0 and 6 months of rewards. I don't know if we have more information than that
kiratsunami
yep bro this is what I was trying to explain
kiratsunami
I didn't get yourr point bro
There is one thing worse. You locked your USD0++ into Bera vaults and cant sell it for next 3 months at least lolkiratsunami
not really ... cause with Bera vaults you have other incentives, and the market will correct itself super fast as I said the Worst case scenario is to have bought it few hours ago and didn't farm usuals ...
There is one thing worse. You locked your USD0++ into Bera vaults and cant sell it for next 3 months at least lolandrewdubai
right timing for the announcement
I actually want to confirm something - is the amount of USUAL to burn linked to how long I've held USD0+? For example, if I entered a week ago, do I need to pay back 6 months worth of earnings?Wismerhill
it's a formula same for everyone = doesn't matter when you bought
the worst case is that if you bought usd0++ few hours ago lmao
that's like the worst thing ever
how will they know when you entered ?
so the answer is no, it doesn't depend on each individual, wheter you bought it now or one week ago, the amount of Usual you pay is the same for everyone
actually I was thinking about all of thisandrewdubai
in this case the USUAL token value will be aligned with the discount value of USD0++
kiratsunami
I hope they activated it as fast as possible because now it's just hurting the TVL ...
this move is bearish for usualX holders until tomorrow when the option will be activated, thus it will be bullish for us
kiratsunami
bro just forget about it ... the tokens are fungible, each usd0++ is equal to another one it will be the same price for everyone wheter you bought it or no
the worst case is that if you bought usd0++ few hours ago lmao
that's like the worst thing eversssswโrd
they can calc entry time on the blockchain if they want
eatprayield
where's the team at this important moment?
how will they know when you entered ?
so the answer is no, it doesn't depend on each individual, wheter you bought it now or one week ago, the amount of Usual you pay is the same for everyone
actually I was thinking about all of thiseatprayield
it's recorded per your wallet account? since you claimed them
kiratsunami
the worst case is that if you bought usd0++ few hours ago lmao that's like the worst thing ever
SY
Wen redemption is possible?
Mava (AI Support)
The exact amount of USUAL you need to return for a 1:1 redeem is calculated based on three factors: the current USUAL rewarded per USD0++, an adjustment factor based on the weekly outflow target and cumulative weekly redemptions, and a time cost factor.
Mava AI Betahow will they know when you entered ?
so the answer is no, it doesn't depend on each individual, wheter you bought it now or one week ago, the amount of Usual you pay is the same for everyone
actually I was thinking about all of thissssswโrd
thatโs unreasonable
eatprayield
how much USUAL should I return exactly for 1:1 redeem?
I actually want to confirm something - is the amount of USUAL to burn linked to how long I've held USD0+? For example, if I entered a week ago, do I need to pay back 6 months worth of earnings?kiratsunami
how will they know when you entered ? so the answer is no, it doesn't depend on each individual, wheter you bought it now or one week ago, the amount of Usual you pay is the same for everyone actually I was thinking about all of this
dv
@Noรฉ What is going to happen to the current hardcoded markets on morpho ? "New Morpho โUnliquidableโ market: Launching a Morpho "unliquidable" market for USD0++/USDC tomorrow, based on the floor price and with an LLTV of 96.5%. This allows users to migrate positions from the unsustainable 1:1 hardcoded vault. Deploying also a Morpho market for the USD0/USD0++ LP in the coming days, further strengthening liquidity options."
sssswโrd
I actually want to confirm something - is the amount of USUAL to burn linked to how long I've held USD0+? For example, if I entered a week ago, do I need to pay back 6 months worth of earnings?
CongQ
how much is that, 1 usual = 1 baugatte ?
lofi
lmao
kiratsunami
whats FP ?
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.kiratsunami
interested by yourr model
digitaldaikon
Until the team lowers the FP again, right?
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.kiratsunami
brro can I dm ?
according to the formula and the early APY on USD0++ was more than 70%... that means you are going to pay more than 13% to get back the peg
Clayboi Parti
in that case a person will only lose the yield but get the $1 value
kiratsunami
Worst case scenario 0.87
For first 4-5 months they need to burn usual which they didnt yet earn, so they need to buy extra and burn it. Will they do that, or exit through curve?kiratsunami
I don't have usd0++, I have usual, this will make usual scarce and drive usualX apy up sorry for usd0++ but those who still have usd0++ when this feature will be activated, will drive the price of Usual up ^^
Bagus
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.Arson
you mean price will be -13%?
True, people have to sacrifice a portion of yield which was distributed in usual in order to take early exitsandrewdubai
according to the formula and the early APY on USD0++ was more than 70%... that means you are going to pay more than 13% to get back the peg
True, people have to sacrifice a portion of yield which was distributed in usual in order to take early exitskiratsunami
this will drive the APY of Usual up, since 1/3 of the tokens are given to UsualX and 1/3 is burned
0x_mate
For first 4-5 months they need to burn usual which they didnt yet earn, so they need to buy extra and burn it. Will they do that, or exit through curve?
mjt
I predicted this floor price update in my model, and I'm glad the team settled for a fair ~3.54% YTM. Anything higher would have lowered the floor price. Can't wait to see the redemption mechanism at work. WAGMI.
Arson
so what is the real value of usd0++?
kiratsunami
there are 3 mechanisms to reedem USD0++ 1. USUAL Burning Redemption 2. Price Floor Redemption 3. Parity Arbitrage Right
Clayboi Parti
imo it's a good mechnism to have bid side liq
Clayboi Parti
True, people have to sacrifice a portion of yield which was distributed in usual in order to take early exits
kiratsunami
they do mate
if the market correct before the start of the mechanism we are doomed
chud
WRONG
0x_mate
No they dont
kiratsunami
the redemption will starrt tomorrow ...
Mahashmashana
if people knew what they were doing they would be apeing into the pendle YT for USD0++ (!!!)
chud
because people will need to burn USUAL to exit 1:1
BLAH BLAH BLAH YAP YAP YAP.
stop wasting time and understand that this is bullish USUAL token and bidkiratsunami
how is this bullish ? the TVL is going down ...
andrewdubai
at the end you will give back more than what you farmed
you can make back the 13% by longing USUAL
Mava (AI Support)
The amount of USUAL tokens that need to be sacrificed is determined by three factors: the current USUAL rewarded per USD0++, an adjustment factor based on the weekly outflow target and cumulative weekly redemptions, and a time cost factor. Specifically, 33.33% of the USUAL tokens are burnt, while the remaining are allocated to USUAL* and USUALx.
Mava AI Beta
eh who does - do you read the manual to your new washing machine when you buy it? no lol you plug that fcker in and start pressing buttons
rpc20
what determines the amount of tokens that need to be sacrificed?
bitcouin
if we all buy and stop selling we can send back the price to 1$. and even more. blacklist sellers, do a buying campaign where biggest buyers get USUAL prize. We can do this together.
0x_mate
$USUAL's value depends on holders, and big part of those holders will wake up tomorrow to find out they actually lost money farming a "stablecoin", and they will sell their USUAL and move on. So implied value of USUAL wont matter if base of holders is upset
Mava (AI Support)
Early Redemption is a mechanism that allows users to redeem their USD0++ on the primary market at a guaranteed 1:1 rate before maturity. To use this mechanism, users must sacrifice a certain amount of $USUAL tokens, ranging from a minimum of 0 to a maximum of 6 months of rewards.
Mava AI Betarpc20
what is early redemption?
Mr. Lin
Yay!
Dave.race
Enjoy the lashback of the latest announcement Mr. Lin!
Mr. Lin
Mr. Lin
Am i getting my ass railed today?
alisonheringer
Don't worry, he will say it was always in the docs. ๐คฃ
Mr. Lin
Sup bois
Dave.race
Our hero!
Mr. Lin
Gmgm
Pri
will it be a surprise like the 0.87 floor price? ๐
Pri
Where will details be? here? why isnt it in the whitepaper
Noรฉ
early next week + details early next week for the exact parameters
Pri
When does early redemption start @Noรฉ & what parameters will be set for target outflow?
Noรฉ
counting on you guys to help me while I sleep
blurr
ye you're in for a few weeks of this
Noรฉ
yeah true
anyways, gn sers
Dave.race
Noรฉ, you can go to sleep. I don't think this will stop soon lol
digitaldaikon
Miele here
blurr
A man of high taste I see.
So it would be fair if the team said you can buy now at TGE for high APY or when it gets close to the floor price if you dont want to lose on depegging, choose your fighter. But team was aware that if they did that nobody would buy it at TGE so they just decided to skip that part and let normies drown. Thats not cool, thats not how protocol grows, i dont care fron USD0++ perspective as i will hold it until the end, but from $USUAL perspective we can expect nothing else than more dumping after all this. Thats my whole pointNoรฉ
Nah that's plain wrong, $USUAL's implied value increases with those mechanism
blurr
bosch?
eh who does - do you read the manual to your new washing machine when you buy it? no lol you plug that fcker in and start pressing buttons
blurr
you're a man
Cรฉlio
This is not for the one month after TGE as it has explicit mentions of it not being otherwise redeemable. Which as you said is possible during the month after TGE.
0x_mate
So it would be fair if the team said you can buy now at TGE for high APY or when it gets close to the floor price if you dont want to lose on depegging, choose your fighter. But team was aware that if they did that nobody would buy it at TGE so they just decided to skip that part and let normies drown. Thats not cool, thats not how protocol grows, i dont care fron USD0++ perspective as i will hold it until the end, but from $USUAL perspective we can expect nothing else than more dumping after all this. Thats my whole point
kiratsunami
lol no, we aren't going to waste the money in the tresury
Bagus
should i buyback for TWAP
andrewdubai
that's why is called usual.money
look, you bought a 4 year zero coupon bond for a dollar plus some nebulous promise of future governance tokens
you didn't lose any money...
okay well you kinda lost some of your money, but it was all in the docs sodigitaldaikon
Usually, they donโt read the docs.
blurr
look, you bought a 4 year zero coupon bond for a dollar plus some nebulous promise of future governance tokens you didn't lose any money... okay well you kinda lost some of your money, but it was all in the docs so
Noรฉ
the mechanism enabled today were public since day 1
"Therefore, the amount of USUAL to be returned at the maximum is 180 days worth the
current rewards rate while the minimum is 0 depending on the weekly outflow of TVL
compared to the target allowed net outflow."
When does early redemption kick in?Mava (AI Support)
Early redemption kicks in based on the weekly outflow of TVL compared to the target allowed net outflow. If the net weekly outflow exceeds the target set by the DAO, early redemption mechanisms may be triggered.
Mava AI BetaPri
"Therefore, the amount of USUAL to be returned at the maximum is 180 days worth the current rewards rate while the minimum is 0 depending on the weekly outflow of TVL compared to the target allowed net outflow." When does early redemption kick in?
It says it is to ensure price parity to USD0 and it says that it allows the DAO to unlock the bond which does not mean redeem at 0.87Noรฉ
It was 1 during a month after TGE. Don't try to play smart lmeow
it doesn't say depegged to USD0, it says it can be unlocked for USD0 if it becomes depegged. Depegged to the floor.Cรฉlio
It says it is to ensure price parity to USD0 and it says that it allows the DAO to unlock the bond which does not mean redeem at 0.87
Noรฉ
yeah nah we don't want to get kidnapped lmeow
Floor was 1 for a month after TGE, "Grace Period".
shei
haha i would hope so XD the team should have their wallets public
Noรฉ
PAR is for the floor. The floor is 0.87.
eatprayield
usual will go 0
Guys https://docs.usual.money/usual-products/usd0-liquid-staking-token/parity-arbitrage-right-par this can be done to restore the pegeatprayield
this should be really activated, otherwise we are all doomed
Noรฉ
it doesn't say depegged to USD0, it says it can be unlocked for USD0 if it becomes depegged. Depegged to the floor.
Dave.race
In 3.5 years
Noรฉ
it's a bot lol, it isn't updated
Cรฉlio
It says depegged to USD0 not to floor price floor price is not mentioned
Arson
wow, you team just deleted it
"This action allows USD0++ to be redeemable for its USD0 if the market price of USD0++ becomes depegged."Noรฉ
Depegged to what? Depegged to the floor priced defined. Which is 0.87.
Arson
interesting
shei
lolol i mean if i was part of the team, i feel like it would only make sense
shei
if you wait 4 years
Noรฉ
lmfao yeah alright
eatprayield
Can USD0++ peg ever be returned
Cรฉlio
"This action allows USD0++ to be redeemable for its USD0 if the market price of USD0++ becomes depegged."
shei
check their bags, probably most must have unstaked before the announcement?
the team could have been printing before making this announcement lolll
Since the underlying USD0 for USD0++ is locked, there is no open arbitrage mechanism for when USD0++ is priced below USD0.Noรฉ
because USD0++ is not pegged to USD0...?
Cรฉlio
It says you can redeem for the underlying USD0 value
Noรฉ
@Mr. Lin should be getting online soon for the asian timezone 
Im not frustrated, my plan was to hold it anyway, but its a fact that the way this played out was wrong. There are lot of people how were collecting yield on stable which is all of sudden no longer a stable and they are in loss because of one announcement. This info was supposed to be cleared before TGE or on the day of TGE, you cant expect all your users to read through all your whitepaper, not even 5% of them did that because most important informations like this one need to be assessed publicly through social media
kimchi
I am fully agreed this
Cรฉlio
That is not what it says
shei
those profits don't transfer back to Usual stakers
kimchi
It hasnโt even been a month since the TGE yet. 20 days
shei
but if people just swap on secondaries, then you don't see those profits though do yo?
Im not frustrated, my plan was to hold it anyway, but its a fact that the way this played out was wrong. There are lot of people how were collecting yield on stable which is all of sudden no longer a stable and they are in loss because of one announcement. This info was supposed to be cleared before TGE or on the day of TGE, you cant expect all your users to read through all your whitepaper, not even 5% of them did that because most important informations like this one need to be assessed publicly through social mediaNoรฉ
It never was a stable tho
Guys https://docs.usual.money/usual-products/usd0-liquid-staking-token/parity-arbitrage-right-par this can be done to restore the pegNoรฉ
at the floor price, yes
I can understand the frustration, but USD0++ was always referred as a liquid bond token (LBT) and the mechanisms were all public0x_mate
Im not frustrated, my plan was to hold it anyway, but its a fact that the way this played out was wrong. There are lot of people how were collecting yield on stable which is all of sudden no longer a stable and they are in loss because of one announcement. This info was supposed to be cleared before TGE or on the day of TGE, you cant expect all your users to read through all your whitepaper, not even 5% of them did that because most important informations like this one need to be assessed publicly through social media
Cรฉlio
Guys https://docs.usual.money/usual-products/usd0-liquid-staking-token/parity-arbitrage-right-par this can be done to restore the peg
Mava (AI Support)
The floor price for USD0++ is a mechanism that allows users to unstake their USD0++ for USD0 at a guaranteed minimum rate. This price is set by the DAO and ensures that users receive a minimum value when redeeming their USD0++. The specific floor price can be updated by authorized admins with the FLOOR_PRICE_UPDATER_ROLE. Reference: 1
Mava AI Beta
Noรฉ
plus the staking rewards if you stake
JackNorris
What is the floor price meant to be
Noรฉ
yess
andrewdubai
plus the usual rewards
People were always able to redeem USD0++ at 0.9995, but lowering it to 0.87 without any prior discussion feels extremely harsh. The market is reacting to this.Noรฉ
They weren't. As said previously, there was no redeem possible on the primary for 4 months before TGE - it's only been possible for a month after TGE as a Grace Period.
Noรฉ
on secondary, right now, yes
shei
or i guess you get 1 SUD0++ and then in 4 years it goes to 1.13 or whatever
kimchi
People were always able to redeem USD0++ at 0.9995, but lowering it to 0.87 without any prior discussion feels extremely harsh. The market is reacting to this.
shei
wait so if you lock 1 USD0, you should really be getting 1.xx USD0++ right?
kiratsunami
yep
the TVL will be important and taken into consideration when the revenue switch will be toggled on, now having a high or low TVL don't change anything
shei
USD0++ is a bond you buy at 87 cents and then goes to $1 in 4 years?
and your TVL increased from 400m to 1.8B within a couple of weeks. Whats your point?
The majority of your users entered near TGE.Noรฉ
Are you really blaming us for implementing a feature that was public since day 1 boss?
tbh it's better that they did it rn, imagine if Usual got hit this bad in feb or march, it would have never been able to wake up again lmaoandrewdubai
it's just math, at the end this APY was unsustainable, like other RWA backed stablecoins. You know what are you farming and the risk associated.
kiratsunami
the revenue switch didn't start yet, thus the TVL don't affect the price of usual ...
As said previously, there was no redeem possible on the primary for 4 months before TGE - it's only been possible for a month after TGE as a Grace Period.Pri
and your TVL increased from 400m to 1.8B within a couple of weeks. Whats your point? The majority of your users entered near TGE.
kiratsunami
tbh it's better that they did it rn, imagine if Usual got hit this bad in feb or march, it would have never been able to wake up again lmao
You literally have floor price set to 0.999, why not decrease floor price slowly rather than instantly dropping it to 0.85? Causes all usd0++ buyers to go underwater instantly.
a true bond is where the user knows they are illiquid when they are buying, not being forced to be illiquid because the bond creator changes the rules.Noรฉ
As said previously, there was no redeem possible on the primary for 4 months before TGE - it's only been possible for a month after TGE as a Grace Period.
andrewdubai
atm positive
Noรฉ
true
because even when you don't know when it happens, the uncertainty should be priced.
Study polymarket and the <1 proability of Trump in the office in case he could diePri
You literally have floor price set to 0.999, why not decrease floor price slowly rather than instantly dropping it to 0.85? Causes all usd0++ buyers to go underwater instantly. a true bond is where the user knows they are illiquid when they are buying, not being forced to be illiquid because the bond creator changes the rules.
kiratsunami
what I don't get, is that the APY of USD0+++ didn't explode, since ppl are selling their USD0++ those who are still inside will be getting more of the staking pie thus driving the APY of USD++ even higher
andrewdubai
USUAL will be below 10 cents
I know it was public, but average investor like me, who is not stupid, but also not genius in math, wasnt aware that USD0++ literally had 100% chance of crush from 1$ to lower. And Usual team wasnt really helpful with their USD0++ shills, they didnt mention one time that it will eventually depeg for sure, but APY has been mentioned 20492 times lolNoรฉ
I can understand the frustration, but USD0++ was always referred as a liquid bond token (LBT) and the mechanisms were all public
andrewdubai
yes but you will make it in few weeks..... don't worry about it
Mateus Ball
-100M -1B is next
kiratsunami
funding rates are a joke
andrewdubai
just short it all
0x_mate
I know it was public, but average investor like me, who is not stupid, but also not genius in math, wasnt aware that USD0++ literally had 100% chance of crush from 1$ to lower. And Usual team wasnt really helpful with their USD0++ shills, they didnt mention one time that it will eventually depeg for sure, but APY has been mentioned 20492 times lol
kiratsunami
how
andrewdubai
you can hedge USUAL on Hyperliquid
Noรฉ
ok
andrewdubai
but waiting for the floor
How is the market meant to price it when there was ZERO indicator of when this switch was going to happen?Noรฉ
because even when you don't know when it happens, the uncertainty should be priced. Study polymarket and the <1 proability of Trump in the office in case he could die
kiratsunami
TVL gonna shrink more
Arson
@Noรฉ usual is dropping , twitter is full of fud, and you just adding fuel
andrewdubai
Europe no
the majority didn't understand it and I think most are still sleeping..... early morning will be worst...Noรฉ
Asia is already awake tbh, idk if tomorrow morning would be "worse"
the majority didn't understand it and I think most are still sleeping..... early morning will be worst...kiratsunami
yeah the price is still far from the floor price lmao
Pri
How is the market meant to price it when there was ZERO indicator of when this switch was going to happen?
Noรฉ
Not true - redeem wasn't possible during the 4 months of the prelaunch, only during a month after TGE as a Grace Period
blurr
so there was no way for the market to price it
blurr
because it literally couldn't because you could redeem it for 0.9995 at any time
Noรฉ
also there's panic reaction rn
After reading all this i have one more question. Why were we "lured" to buy USD0++ at 1$ few weeks ago, if it was known that we would be able to buy it at discount after only few weeks?Noรฉ
It has always been public boss, market just didn't price it before
Noรฉ
okay
0x_mate
After reading all this i have one more question. Why were we "lured" to buy USD0++ at 1$ few weeks ago, if it was known that we would be able to buy it at discount after only few weeks?
blurr
literally 0'd
Arson
@Noรฉ You choose the worst market time to canncel unstake
blurr
the guy with 135m gross or whatever is gonna lose 95%
the rate starts massively spiking, and they're forced to close with all the equity 0'd completely
Noรฉ
that's why we're switching this market to a new one
blurr
ye so all that happens there is the suppliers pull all their money
Noรฉ
Morpho market is hardcoded to 1
blurr
ngl encouraging looping usd0++ to the hilt and then doing this in one go is so f funny
Arson
-5% and still crushing
I think it would be similar to CEX (Binance), just find a place where you can do it, ig MEXC or Hyperliquid should be fineNoรฉ
You can place a limit order on a DEX through Cowswap sir, it's gasless
kiratsunami
I think it would be similar to CEX (Binance), just find a place where you can do it, ig MEXC or Hyperliquid should be fine
should just sell "DOLLAR COINS" for 95 cents or something redeemable in a year
>tf is a zero coupon bond
blurr
should just sell "DOLLAR COINS" for 95 cents or something redeemable in a year >tf is a zero coupon bond
kiratsunami
it's a 100% secure method lmao
Noรฉ
do you mean, how to put a limit order?
kiratsunami
it's tbh a great opportunity but I don't know how you can see a limit in a DEX
Noรฉ
which imho is harder to understand
no i get that, but the average user here probably doesn't, but they do understand something being worth 1 temporarily not being worth one but heading back there apparentlyNoรฉ
yeah lmfao
andrewdubai
but it's higher than 4%
blurr
no i get that, but the average user here probably doesn't, but they do understand something being worth 1 temporarily not being worth one but heading back there apparently
kiratsunami
FED
phdzack
The team is โฆ
andrewdubai
sure, I suggest to arb also BEFORE the floor price otherwise the USD0++/USD0 pool will be empty
can't believe they're going to pull it off, they're going to sell t-bill yield to smooths on the basis that its a stable coin repeggingNoรฉ
it's just how a bond behaves ser
kiratsunami
if the secondary market dips more, then the primary market will be more profitable thus making 0.87 the worst case scenario, but yes a noob can always loose more money by going after a worst price than 0.87 in the secondary 0.87 is the worst price ...
blurr
the genius of it, the audacity.
Floor price rises as the time goes by right? Now its at 0.87, and in few months it becomes 0.88 and so on until it depegs to 1?blurr
can't believe they're going to pull it off, they're going to sell t-bill yield to smooths on the basis that its a stable coin repegging
0x_mate
Thx, and is there option to borrow against our staked USD0++ if we need liquidity?
Noรฉ
would be quickly arbed tho, even by us directly
andrewdubai
what are the 3 different rate?
phdzack
So the price on usd0++ will be 0.87-1.05
Floor price rises as the time goes by right? Now its at 0.87, and in few months it becomes 0.88 and so on until it depegs to 1?Noรฉ
Yes
Floor price rises as the time goes by right? Now its at 0.87, and in few months it becomes 0.88 and so on until it depegs to 1?andrewdubai
no , on the secondary market can dip more
Floor price rises as the time goes by right? Now its at 0.87, and in few months it becomes 0.88 and so on until it depegs to 1?andrewdubai
yes
0x_mate
Floor price rises as the time goes by right? Now its at 0.87, and in few months it becomes 0.88 and so on until it depegs to 1?
kiratsunami
0.87 is the worst case scenarrio
andrewdubai
not necessary, 0.87 is the floor price
phdzack
I donโt understand
So the price will be 0.87๏ผ๏ผ
So to recap, if we want to exit early, we would need to wait around 5-6 months so that our earned yield covers for USD0++ price and we dont end up losing money?andrewdubai
in the worst scenario, yes
So to recap, if we want to exit early, we would need to wait around 5-6 months so that our earned yield covers for USD0++ price and we dont end up losing money?Noรฉ
If you redeem at the floor price, which is unlikely, yes
0x_mate
So to recap, if we want to exit early, we would need to wait around 5-6 months so that our earned yield covers for USD0++ price and we dont end up losing money?
nein
# ๐ฃใannouncements
phdzack
Not Like sUSDe
kiratsunami
now it will cost less to farm Usual with usd0++ than it was before thus making the farming of Usuals via usd0++ even more profitable
Mava (AI Support)
The price of USD0++ can experience volatility due to its maturity and market conditions. Since USD0++ is a locked version of USD0, there is no open arbitrage mechanism when USD0++ is priced below USD0. The DAO can unlock USD0 before USD0++ matures if necessary, allowing USD0++ to be redeemable for its USD0 if the market price becomes depegged. Additionally, market factors such as changes in interest rates or investor sentiment can also impact the price. Reference: 1
Mava AI Betaphdzack
Why USD0++ Price crash ?
Noรฉ
lmeow
Noรฉ
Yeah I would've been surprised also
nein
yeah i just saw -50k on my wallet and was surprised 
lol i need to readapt to situations i read the WP and it was indeed my fault (didn't catch that part at all lol)Noรฉ
no worries at all mate, I can understand the quick reaction
kiratsunami
I don't understand
Mateus Ball
arb for the DAO)))
Noรฉ
smort men
Noรฉ
I love seeing you ending up taking advantage of the situation
kiratsunami
so the amount of Usuals costs more than 0.13 this is the only arb that I can see
How to stake rewards when i need to pay 10$ gas every day to loop my new rewards from USD0++, i can stake it once a month or im gonna get rektNoรฉ
Well yeah at the end of the day it depends on if it's worth with the size indeed
nein
it's going much more lower ~0.9 will be a good entry price
phdzack
USD0 ++ Price Crash to 0.96
Mava (AI Support)
Yes, you can find information about staking and investment strategies in the Usual documentation and blog articles. For instance, the blog post titled 'Introduction to USUALx and Its Game Theory' provides insights into staking strategies. Additionally, the Usual documentation covers various aspects of staking and governance, which can help you understand the best ways to invest and stake USUAL tokens. References: 1,2
Mava AI Beta0x_mate
How to stake rewards when i need to pay 10$ gas every day to loop my new rewards from USD0++, i can stake it once a month or im gonna get rekt
FB
is there any document / strategies to understand the best way to invest, stake usual in the app?
the condition is that the cheapest way to reedem your usd0++ is by going with the price floorandrewdubai
true
kiratsunami
the condition is that the cheapest way to reedem your usd0++ is by going with the price floor
0x_mate
Probably yeah
blurr
nothing new under the sun
kiratsunami
I see an arb that I can do
blurr
i come from the foodfarming generation
nein
oh lol
kiratsunami
I was wrong lmao, Morpho price will be 0.87*0.965 thus making it 1USD0++ = 0.84 USDC
Noรฉ
It's been in the docs since day 1 sir
kimchi
team suddenly change
In my calculations holding USD0++ for 4 months at 28% APY gets you like 8-9% ROI, which is far from 13% (floor price). What am i missing?blurr
you're missing that 28% probably doesn't hold for 4 months
kimchi
wow floor price is 0.87
In my calculations holding USD0++ for 4 months at 28% APY gets you like 8-9% ROI, which is far from 13% (floor price). What am i missing?Noรฉ
whoops, 6 months max indeed
you are right, it's around 5,5 months. the early unstaking feature will ask to burn or pay with USUAL tokens and this is the amount around 1 month to a quarter.Usual
In my calculations holding USD0++ for 4 months at 28% APY gets you like 8-9% ROI, which is far from 13% (floor price). What am i missing?andrewdubai
you are right, it's around 5,5 months. the early unstaking feature will ask to burn or pay with USUAL tokens and this is the amount around 1 month to a quarter.
zo
yes plz...Can't we do it now?
0x_mate
In my calculations holding USD0++ for 4 months at 28% APY gets you like 8-9% ROI, which is far from 13% (floor price). What am i missing?
Noรฉ
It's a ticket? I'll be checking tickets tomorrow morning, it's 1am in my timezone lmeow
the real price will be 0.965
only in the primary market trough the price floor where it will be 0.87nein
yep
zo
can u check 72699?
Noรฉ
kiratsunami
lmao "sam" smith
blurr
doing the lords work
and if we go by the idea of the hidden hands of sam smith and that the market is omniscient, bots will take care of doing arbitrage in DEX
so the price will never be under 0.965ravished
Adam
Noรฉ
# ๐ใofficial-links you can check on the Dune
FB
how long usualx has 213% apy already?
blurr
but yes if you can find someone to lend it to you
all the leverage goes one way
blurr
you can't really
it makes sense if ur you, it makes a lot less sense if you bought usd0++ under the assumption it was pegged - because it was - and wake up tomorrow to discover it very much is not, and you have to pay you 13 cents on the dollar to get outNoรฉ
yes
you do know that if you hold USD0++ for 4 months at the current APY, you already compensated the LOWEST redeem you could get (floor) ?0x_mate
Is that without compunding?
blurr
incredibly based and funny move
it makes sense if ur you, it makes a lot less sense if you bought usd0++ under the assumption it was pegged - because it was - and wake up tomorrow to discover it very much is not, and you have to pay you 13 cents on the dollar to get out
kiratsunami
floor_price x Qt x 0.965 USDC
Noรฉ
like it couuuuuld make sense
makes a bit of sense but not really
based on the floor price - which is 0.87 - at 96.5% ltv, so its 96.5% of 0.87, not of 100 lol, its worse than the current morpho marketskiratsunami
you are right
based on the floor price - which is 0.87 - at 96.5% ltv, so its 96.5% of 0.87, not of 100 lol, its worse than the current morpho marketsNoรฉ
yeah actually I talked internally and indeed lmeow
blurr
https://tenor.com/view/dumb-stupid-brainlet-wojak-meme-gif-17170021
and if we go by the idea of the hidden hands of sam smith and that the market is omniscient, bots will take care of doing arbitrage in DEX
so the price will never be under 0.965blurr
based on the floor price - which is 0.87 - at 96.5% ltv, so its 96.5% of 0.87, not of 100 lol, its worse than the current morpho markets
FB
is there anyway to unstake without pay 10%?
kiratsunami
and if we go by the idea of the hidden hands of sam smith and that the market is omniscient, bots will take care of doing arbitrage in DEX so the price will never be under 0.965
famousfxck
Bullish
Noรฉ
makes sense
not that it will, but it could, indeed
I'm noob to Morpho, but from what I understood, with 1000USD0++ you will be able to borrow 965 USDC no ???
so the real price will be 0.965 no ?Noรฉ
yes, that's a good theory
Conditional Exit: 1:1 redemption requiring forfeiture of a portion of accrued yields. This โEarly Unstakingโ mechanism is scheduled for release early next week.
How much exactly is "portion"? 10%? 50%? 90%?Conditional Exit: 1:1 redemption requiring forfeiture of a portion of accrued yields. This โEarly Unstakingโ mechanism is scheduled for release early next week.
How much exactly is "portion"? 10%? 50%? 90%?0x_mate
Conditional Exit: 1:1 redemption requiring forfeiture of a portion of accrued yields. This โEarly Unstakingโ mechanism is scheduled for release early next week. How much exactly is "portion"? 10%? 50%? 90%?
the real price will be 0.965
only in the primary market trough the price floor where it will be 0.87
chermiw_
will it repeg ? ๐คค i want to buy
the real price will be 0.965
only in the primary market trough the price floor where it will be 0.87
yecine4686
Ok i hope i did not get liquidated
famousfxck
Green daily close?
kiratsunami
lol it didnt
I'm just wondering something, will this make the price of Usuals go lower, because if the secondary market align with the primary and you can buy USD0++ for 0.87 USD, then it will make the APY of USD0++ go higher and thus diluting even more the value of Usual
am I missing something ?yecine4686
Are you sure usd0++ dropped to 0.87 ?
So how many USUAL tokens will I have to burn to get say 10 USD0++ unstaked to 10 USD0, please?Mava (AI Support)
To redeem USD0++ for USD0, some USUAL tokens are burned. The exact amount of USUAL required to be burned is determined by factors such as the current USUAL rewarded per USD0++, an adjustment factor based on the weekly outflow target and cumulative weekly redemptions, and a time cost factor. Unfortunately, I don't have the specific formula or current values to calculate the exact amount of USUAL tokens needed for your scenario.
Mava AI Beta
andrewdubai
buy buy buy
Dmitriy Stepanov
So how many USUAL tokens will I have to burn to get say 10 USD0++ unstaked to 10 USD0, please?
famousfxck
@Noรฉ invite this dude to the TG chat, heโs dope
kiratsunami
should we short it ???
nein
the "floor" is at 0.965$
nein
mhmm with no disrespect it's not a big brain move to buy at those prices
andrewdubai
I hope you are like me, it could be funny ๐คฃ
Noรฉ
(he misunderstood and thought you were talking about USUALx)
andrewdubai
I just have USUAL
it shows on the website but honestly, i unstaked almost hour ago and i wasn't charged for 10% fee the team need to carefully check this bug.nein
LOL
kiratsunami
bro ... I want to party in Dubai but I'm too pooor send me BTC
chermiw_
it shows on the website but honestly, i unstaked almost hour ago and i wasn't charged for 10% fee the team need to carefully check this bug.
I'm just wondering something, will this make the price of Usuals go lower, because if the secondary market align with the primary and you can buy USD0++ for 0.87 USD, then it will make the APY of USD0++ go higher and thus diluting even more the value of Usual
am I missing something ?nein
ur not missing anything
andrewdubai
no party until USD0++ = 1 USDC
kiratsunami
bro Andrew throw a party
I'm just wondering something, will this make the price of Usuals go lower, because if the secondary market align with the primary and you can buy USD0++ for 0.87 USD, then it will make the APY of USD0++ go higher and thus diluting even more the value of Usual
am I missing something ?Mava (AI Support)
If people sell USD0++ at the floor price or through Early Redemption, it means part of those rewards are redistributed to USUAL stakers, and another part is burned. This process increases USUAL's implied value because it becomes scarcer and more rewarding, which in turn increases the APY for everyone, including USD0++. Therefore, rather than diluting the value of USUAL, it could potentially increase its value.
Mava AI Betaandrewdubai
normie got slashed hard. hard lessons are the best for growing fast
kiratsunami
I'm just wondering something, will this make the price of Usuals go lower, because if the secondary market align with the primary and you can buy USD0++ for 0.87 USD, then it will make the APY of USD0++ go higher and thus diluting even more the value of Usual am I missing something ?
Noรฉ
depends on weekly outflows and time before maturity, basically zero to 6 months of rewards
87c. bro sell something for 1 usd, advertise it as dao will redeem for 1 usd then say its 87c
MJR
01/09/2025 at 18:42:35 ESTA bond is convertible over time
87c. bro sell something for 1 usd, advertise it as dao will redeem for 1 usd then say its 87cIf I joined USD0++ 2 weeks ago, and want to withdraw at 1:1 ratio after the feature is activated, how much USUAL do I need to pay? Do I only need to burn the USUAL tokens I farmed during these two weeks?sssswโrd
@Noรฉ ser can you answer me this๏ผ
kiratsunami
can you explain in details in private pls
CongQ
just not on the 2 different primary exiting methods
dasistgud.
87c. bro sell something for 1 usd, advertise it as dao will redeem for 1 usd then say its 87c
CongQ
there will be, just like USUALx
kiratsunami
I was kidna
kiratsunami
so no money to make between primary and secondary market ...
bro there is something wrong with this. you basically trapped people into buyng usd0++ for 1 usd and then all of a sudden said its 87c and just hold. this is not right in any wayMJR
01/09/2025 at 18:41:06 ESTHow do you trap someone into something with it being in the documents โฆ.
CongQ
i thought u were talking about arbitrage oppotunirty there, nvm
CongQ
same value
bro there is something wrong with this. you basically trapped people into buyng usd0++ for 1 usd and then all of a sudden said its 87c and just hold. this is not right in any wayNoรฉ
We've answered to your remarks multiple times
bro there is something wrong with this. you basically trapped people into buyng usd0++ for 1 usd and then all of a sudden said its 87c and just hold. this is not right in any waykiratsunami
lmao I'm not part of the team, I'm just a normie ig
bro there is something wrong with this. you basically trapped people into buyng usd0++ for 1 usd and then all of a sudden said its 87c and just hold. this is not right in any waynein
just take the L like i did
Tirdne
@Noรฉ I think you are a bot that is programmed to scam us
probably no arb oppoturnity there, it is designed in a way to have the same EV as exiting with slippage, but idkkiratsunami
whats EV
dasistgud.
bro there is something wrong with this. you basically trapped people into buyng usd0++ for 1 usd and then all of a sudden said its 87c and just hold. this is not right in any way
CongQ
arbitrage oppoturnity
bro Andrew throw a party for Usual holders, to enter you need to pay in Usual
with baddies all around the place and invite usandrewdubai
I did similar party in Five penthouse last year... so many friends there...
probably no arb oppoturnity there, it is designed in a way to have the same EV as exiting with slippage, but idkkiratsunami
what does arb mean
nein
but it's a nice area
Noรฉ
# ๐งใspeculation
CongQ
probably no arb oppoturnity there, it is designed in a way to have the same EV as exiting with slippage, but idk
Tirdne
@Noรฉ what is your future prediction on the coin can it reach the 1.5 at least?
kiratsunami
bro Andrew throw a party for Usual holders, to enter you need to pay in Usual with baddies all around the place and invite us
nein
i don't like it tbh
sssswโrd
If I joined USD0++ 2 weeks ago, and want to withdraw at 1:1 ratio after the feature is activated, how much USUAL do I need to pay? Do I only need to burn the USUAL tokens I farmed during these two weeks?
andrewdubai
I prefer to stay in Palm Jumeirah Frond O
MJR
01/09/2025 at 18:38:50 ESTlol. People donโt know what they buy. Typical crypto
normie are getting worried and panicked. please sell everything now before it's too late ๐nein
come to city walk
normie are getting worried and panicked. please sell everything now before it's too late ๐kiratsunami
how can we take advantage of this since tomorrow USD0++ will be cheaper
CongQ
bruuh
nein
you already know the answer
Noรฉ
Tirdne
@Noรฉ is USUAL a scam or no thatโs all we want to know?
Noรฉ
just hedge?
nein
$USUAL doesn't only go up u know that?
@Noรฉ If I want to withdraw usd0++, how much USUAL do I need to burn - is it what I have mined during this period, or the equivalent of 1-0.87?Noรฉ
min is zero, max is 6 months of rewards, more or less
You do know that if you stake those $USUAL into USUALx you'll get +200% APY in $USUAL and >50% APY in USD0nein
you don't consider market volatilty
Noรฉ
so you can be "be" really fast
yes but that doesn't make it better (time is money) if i put it somewhere else im actually making $ and not wasting my time locking $ just to REPAY my "redemption fee"Noรฉ
You do know that if you stake those $USUAL into USUALx you'll get +200% APY in $USUAL and >50% APY in USD0
sssswโrd
@Noรฉ If I want to withdraw usd0++, how much USUAL do I need to burn - is it what I have mined during this period, or the equivalent of 1-0.87?
Noรฉ
It means that your rewards are higher than the variation by redeeming at the floor
you do know that if you hold USD0++ for 4 months at the current APY, you already compensated the LOWEST redeem you could get (floor) ?andrewdubai
they are not good in Math....
you do know that if you hold USD0++ for 4 months at the current APY, you already compensated the LOWEST redeem you could get (floor) ?nein
yes but that doesn't make it better (time is money) if i put it somewhere else im actually making $ and not wasting my time locking $ just to REPAY my "redemption fee"
you do know that if you hold USD0++ for 4 months at the current APY, you already compensated the LOWEST redeem you could get (floor) ?dasistgud.
what does this mean, if i hold for 4 months i get 1 usd?
andrewdubai
I hope lower.....
Noรฉ
you do know that if you hold USD0++ for 4 months at the current APY, you already compensated the LOWEST redeem you could get (floor) ?
nein
0.965 will be the new floor
andrewdubai
in 3.5 year for sure
famousfxck
It will tho
dasistgud.
i can hold but not 4 years bro its 60k loss
nein
i don't expect USD0++ to ever comeback to $1 tho
MJR
01/09/2025 at 18:35:31 ESTJust hold. And youโll recover
famousfxck
Just hold will go up fast and there will be more pools
kiratsunami
tomorrow
dasistgud.
when is this
CongQ
yeah, noe straight to JAIL
nein
with the morpho market the correct peg of USD0++ will probably be 0.965$
just to clarify, if we hold until maturity, we can continue to get USUAL as rewards and we can redeem 1:1 to USDdasistgud.
im at a 60k loss rn
andrewdubai
just to clarify, if we hold until maturity, we can continue to get USUAL as rewards and we can redeem 1:1 to USD
famousfxck
Folks, USD0++ is a bond like sUSDe. Over time it goes up
kiratsunami
is it on X ?
CongQ
i stg DeFi has the lowest entry requirement in all financial markets
Noรฉ
bro won't read the docs and say it's illegal
olimpio
Thank you
yasiaforever81
Just stake for the eligibility for the snapshot
Noรฉ
Yes because it's public since day 1
famousfxck
6 months
MJR
01/09/2025 at 18:33:09 ESTPeople donโt even read docs or know what a bond is
olimpio
Hey, does anyone know when the airdrop expires? Is there a deadline to claim?
CongQ
its a fricking BOND
dasistgud.
does binance, one of your key investors know about this?
dasistgud.
come on who would wait 4 years to get back %13 slashed immediately
kiratsunami
3.5y *
CongQ
https://tenor.com/view/surprised-pikachu-pokemon-shock-surprised-pikachu-gif-15357817
dasistgud.
maturity is 4 years bro
Noรฉ
0.87 converges to 1 as maturity approaches
CongQ
so youre telling my rn if i go to buy a US4Y bond, i lose 100% of my monay?
Mava (AI Support)
The floor price of USD0++ is currently set at 0.87:1 and is designed to gradually converge to 1 USD over time. This convergence is part of the protocol's mechanism to maintain stability and provide liquidity options for users. The gradual increase in the floor price is influenced by the protocol's design, which includes factors like market demand and the underlying yield of the assets.
Mava AI BetaCongQ
dude
Noรฉ
nope, but as you wish
cocor42
When and how does 0.87 go up?
dasistgud.
so basically we lost %13 of our money
Noรฉ
yes
nein
this will be used only to keep the floor price?
Noรฉ
that's the PAR mechanism
we can redeem USD0++ for maintaing peg at floor price yes
CongQ
USD0++ is not a stablecoin, is a bond backed by USD0 which is THE STABLECOIN
kiratsunami
it was since day one in the WP
Noรฉ
yeah so you didn't read the whole docs boss
dasistgud.
i saw that dao would unlock usd0++ if below peg
CongQ
it was the design in the FIRST version of the WP, it was designed this way from the start
dasistgud.
bro this caused massive harm, i never saw anywhere about a 0.87 peg
CongQ
but its not, so
Noรฉ
you don't need the exact floor, since it's already written that USD0++ is a bond, can behave like a bond, and 1:1 redeem is done through Early Redemption
CongQ
wt
Noรฉ
lmfao it's in the docs since day 1 of the protocol, you do know that?
it's always been public
I don't think so, but the fact that USD0++ is a bond (not a stable) and the different mechanisms have always been publicdasistgud.
bro this should straight out be illegal
its basically slashing people s money with %13 is the team sure about this with no grace period?Noรฉ
grace period was from the airdrop until now
Noรฉ
I don't think so, but the fact that USD0++ is a bond (not a stable) and the different mechanisms have always been public
dasistgud.
its basically slashing people s money with %13 is the team sure about this with no grace period?
nein
no
famousfxck
https://x.com/0xwismerhill/status/1877496228889370626?s=46
USD0\+\+ holders asking chatgpt what a bond is
 on X_.8a1a568d-8edf-446e-bacf-520173d7f426.png)
Twitter โข 01/09/2025 18:22:37 ESTdasistgud.
0.87 too?
but this is basically out of nowhere and my pendle investment is at a huge loss now because of thisNoรฉ
it's written in all the docs since day 1 ser
You literally should hold max 4 months to compensate the lowest redeem you could get at the floor price
dasistgud.
but this is basically out of nowhere and my pendle investment is at a huge loss now because of this
Noรฉ
yes, so actual market price will be a function of that, so not the floor
this is not what is written, this is the perception and people panicked to dump everything without doing mathnein
yeah or u can redeem it by paying $USUAL which will represnt 1-6 months of yield
kiratsunami
or you should bring Usual
dasistgud.
but this came out of nowhere after we invested in pendle for pt toke3ns
nein
because it is backed at 0.87$ ready the annoucncement
kiratsunami
1 feb most likely
that means also if we are just below the peg, we continue to get rewards plus a discount to get back the peg
HubristicFarmer
can't depeg if you never were pegged
realironman
How far are we from revenue switch?
Mava (AI Support)
USD0++ can experience price volatility due to its maturity and lack of an open arbitrage mechanism when priced below USD0. The DAO can unlock USD0 before USD0++ matures if necessary, allowing it to be redeemable for USD0 if the market price becomes depegged. Reference: 1
Mava AI Betaandrewdubai
that means also if we are just below the peg, we continue to get rewards plus a discount to get back the peg
dasistgud.
Guys why is USD0++ depegging all of a sudden
yes, in the worst scenario the peg is on the floor price and we need to compound max 4 months (a quarter) to get back 13% = 39% APYNoรฉ
yes
andrewdubai
yes, in the worst scenario the peg is on the floor price and we need to compound max 4 months (a quarter) to get back 13% = 39% APY
Noรฉ
you indeed get more USD0++ per $ rn so yeah in a way
Noรฉ
depending on the price action of the bond yes
andrewdubai
if we can buy at discount we have basically this APY granted. is it right?
Noรฉ
The vault will arb between the asset's yield and give exposure to Ethena + Usual rewards (and Ethena's sats). Ethena will also bootstrap it.
at the current APY you basically have to hold USD0++ in between 1 month and a quarter (depending on your compounding frequency), in order to compensate for a redeem at the floor price (which is the worst case scenario) thanks to the rewardsandrewdubai
yes, 0.87 to 1.00 is 0.13 (13%) get back in 4 months (worst scenario) it's 39% APY
0xMT
Thanks. Can't any other protocols do that, what's the value of the partnership?
you mean that from 0.87 to get back 1 it's max 3 months? it's in the worst scenario 39% APYNoรฉ
at the current APY you basically have to hold USD0++ in between 1 month and a quarter (depending on your compounding frequency), in order to compensate for a redeem at the floor price (which is the worst case scenario) thanks to the rewards
Mava (AI Support)
The target outflow is set as a target percentage of TVL redeemed per week by the DAO. It is not designed to be negative, as it represents the amount expected to be redeemed, not an inflow.
Mava AI BetaHubristicFarmer
new question: can the target outflow be negative (ie an inflow)?
Also, the max you have to hold USD0++ in order to compensate for the lowest redeem price (floor price) is between a month and a quarter depending on if you compound or notandrewdubai
you mean that from 0.87 to get back 1 it's max 3 months? it's in the worst scenario 39% APY
Noรฉ
maybe it can help you @nein : https://discord.com/channels/1106588534871179280/1107144153076347022/1327054049782272011
nein
will that give us the opportunity to swap USD0++ in 1:1 with sUSDE?
Noรฉ
No, there'll also be a vault with sUSDe
Mava (AI Support)
The collaboration involves using funds as collateral, specifically through partnerships like the one with Hashnote. Usual's USD0 stablecoin is backed by secure, short-term assets such as US Treasury Bills via overnight repos. This ensures that the collateral is safe and liquid, providing a robust security framework for USD0 holders. Reference: 1
Mava AI Beta0xMT
Still not 100% clear on the collaboration. Is it just that the fund be used as collateral?
Noรฉ
lmeow
if you ask me
so that's really fair for a bond
Also, the max you have to hold USD0++ in order to compensate for the lowest redeem price (floor price) is between a month and a quarter depending on if you compound or not
andrewdubai
I have just one point. next time please design everything in a cheap L2. Ethereum is so expensive
andrewdubai
in this case ALL-IN
Noรฉ
not randomly done lmeow
it's actually well thought
yeah - presuambly if price ever gets close to the floor, there there's some aggressive max looping strategy possible with the USD0++ 96% LTV unliquidatable vault to put the house onNoรฉ
yes
nein
lol im mb
yeah will that still be the case @Noรฉ will we still be able to swap our USD0++ in 1:1 with USDe?andrewdubai
bro you re getting confused here
HubristicFarmer
yeah - presuambly if price ever gets close to the floor, there there's some aggressive max looping strategy possible with the USD0++ 96% LTV unliquidatable vault to put the house on
nein
oh yeah that's true mb
yeah will that still be the case @Noรฉ will we still be able to swap our USD0++ in 1:1 with USDe?Noรฉ
it's USD0, not USD0++
nein
yeah will that still be the case @Noรฉ will we still be able to swap our USD0++ in 1:1 with USDe?
andrewdubai
I think the announcement and the description is too complex for the normie. just calm down and wait next week. in the meantime buy USD0++ at discount ๐
Mava (AI Support)
The 'Holy Trinity' refers to the strategic partnership between Usual, Ethena, and the BUIDL fund, which aims to create a groundbreaking layer of liquidity, composability, and yield optimization in the DeFi space. This collaboration enhances stability, maximizes yield, and optimizes liquidity across both traditional finance (TradFi) and decentralized finance (DeFi) ecosystems. The partnership involves using USDtb and BUIDL as collateral for USD0, maximizing yield opportunities through combined strategies, and ensuring enhanced liquidity through seamless integration of USD0, USDtb, and USDe.
Mava AI BetaNoรฉ
Q1 boss!
0xMT
Is there anymore information on Holy trinity (Ethena, Usual and Buidl fund)?
cool, presumably notionally if demand for USD0++ is high (eg due to demand for new products or whatever), quite often redemptions will hopefully be low vs target so it'll be cheapNoรฉ
yes, also knowing that Early Redemption and Floor benefits USUALx's APY (and USUAL's scarcity) so it increases APY, increasing demand for USUAL and USD0++
HubristicFarmer
I think the reason for some of the angst is that many of us have already taken large recursive loans
cool, presumably notionally if demand for USD0++ is high (eg due to demand for new products or whatever), quite often redemptions will hopefully be low vs target so it'll be cheap
nein
..
Noรฉ
you will even be able to take a loan if you need liquidity
guys, the team can alwaysredeem internally USD0++ for the collateral. if you analyze the transaction they are continously buying lower the peg (120K every time) and even more when there are big dip like this one (around 5/6M). this is good for 2 reason: 1) the team is making moeny coming directly to the treasury -> USUALx stakers. 2) the whitelisted actors can be interested to be part of the party and increase exposuse on USD0 when this happen. and it will happen again.. retails are so dumb to understand a simple tokenomics .. imagine to understand any piece of this ecosystem (USD0, USD0++, USUAL, USUALx) and how everything works perfect togetherkiratsunami
are you andrew tate
Noรฉ
there's a lot of options out there
Noรฉ
or secondary rate is better, or just hold, or just farm rewards to compensate (quite fast)
nein
ok so we'll take an L between 2% to 12% of our total investment
Noรฉ
will be precisely published when mechanism is live boss
HubristicFarmer
do you know what the target outflow is?
Noรฉ
but let's say yes
it's oversimplified
ok so assuming ur withdrawing 100K of USD0++
with an APY at 25% = 25k per year
25k/12 = 2083
so i will pay between 2083$ and (12.5K$) to redeem my USD0++Noรฉ
well no because there's the outflow target and time before maturity
nein
yeah but it's never gonna be the case so im taking 1 as the base case
ok so assuming ur withdrawing 100K of USD0++
with an APY at 25% = 25k per year
25k/12 = 2083
so i will pay between 2083$ and (12.5K$) to redeem my USD0++HubristicFarmer
he said min is 0
Noรฉ
https://discord.com/channels/1106588534871179280/1107144153076347022/1320419682884517999 here sir
verygood
Will the prices of morpho's hardcore market change in the future?
maagi
How would I do that?
Kaleo
Thatโs true to know what what happened
nein
ok so assuming ur withdrawing 100K of USD0++ with an APY at 25% = 25k per year 25k/12 = 2083 so i will pay between 2083$ and (12.5K$) to redeem my USD0++
bbb55555
here for the fireworks
Noรฉ
check on debank sir, easier
HubristicFarmer
thanks - just read the relevant section of the white paper. Do you know what the target net outflow is?
Noรฉ
depends on weekly outflows and time before maturity, min is 0 and max is around 6 months of rewards
maagi
Why I see less usual tokens that what I stacked when I simulate unstake?
cocor42
how much %
Noรฉ
for Early Redemption, yes, if you want to use that mechanism
buy USD0++ at a "discount" rn and hold until Early Redemption is cheap (low outflows), secondary goes higher etc.
ptsFarmer
Will it need to pay usual for next week's Early Redemption?
Noรฉ
basically
Since the rev sharing will be ON since Feb, does it mean the user who staked on Jan 31st will only get one day's portion, while the user who staked on Jan 1st will get the whole month's revenue sharing?Noรฉ
if it starts in feb, you have to stake earlier or the same day
Since the rev sharing will be ON since Feb, does it mean the user who staked on Jan 31st will only get one day's portion, while the user who staked on Jan 1st will get the whole month's revenue sharing?yasiaforever81
In some sense yes
Magic Pan
Since the rev sharing will be ON since Feb, does it mean the user who staked on Jan 31st will only get one day's portion, while the user who staked on Jan 1st will get the whole month's revenue sharing?
Lucky Boy
Oh ok
treebeard
It is, end of page 6 to start of page 7
Noรฉ
he's talking about the latest announcement, not USUALx
yasiaforever81
You have UsualX when you stake Maagi.... you also get make usual when you unstake only then will you know your usual value
Lucky Boy
What is you problem the 10% fee?
Noรฉ
there's the formula, if you want to simulate it before the feature is live, go ahead
alucard
lmao so you dont know how it works
@Mava (AI Support) , so it matters how many days user staked in that month for next month's claim, right?Mava (AI Support)
Yes, the rewards are based on the time-weighted average of your holdings. This means the number of days you have staked in a month will affect the portion of the rewards you can claim in the next month.
Mava AI BetaNoรฉ
yes, that's min and max more or less
Lucky Boy
Hahaha
nein
i know HOW IT WORKS im asking about the REDEMPTION FEE IN USUAL (THIS IS NOT ON THE WHITEPAPER)
Magic Pan
@Mava (AI Support) , so it matters how many days user staked in that month for next month's claim, right?
maagi
I see less number of usual tokens than I stacked. Why is that?
brother in christ, you really put your money on things that you have no idea how it works? that how you handle your finances?nein
LMAO bro
nein
you said it was between 0 to 6 months of USD0++ yield is that correct?
Regarding USUALx revenue sharing, since the snapshot is for the next month claim. Is it true that for user who staked on Feb 1st will get the same revenue sharing with the one who staked on Feb 28th in March?Mava (AI Support)
No, the snapshot for revenue sharing is likely taken on or just before February 1st. Therefore, only those who have staked before the snapshot will be eligible for the revenue sharing for the entire month of February. If you stake on February 1st, you will be eligible for the revenue sharing in March, but if you stake on February 28th, you will not be eligible for the full month's revenue sharing in March.
Mava AI BetaMagic Pan
Regarding USUALx revenue sharing, since the snapshot is for the next month claim. Is it true that for user who staked on Feb 1st will get the same revenue sharing with the one who staked on Feb 28th in March?
Noรฉ
feature will be live next week, you'll be able to estimate live
if you want full details, read the whitepaper
nein
like i have actual no idea how much i will be paying on the early redemption thing
maagi
I just did and i see less number of usual tokens than I stacked.. is it be cause of the unstacking fee? I thought simulation does not include the unstacking fee
Noรฉ
it's in the whitepaper, for the 4th time
Noรฉ
sorry for doing what's written in the docs since 6 months
buy USD0++ at a "discount" rn and hold until Early Redemption is cheap (low outflows), secondary goes higher etc.nein
but what's the details behind early redemptions???
Lucky Boy
Bro what you need is to relax
Noรฉ
buy USD0++ at a "discount" rn and hold until Early Redemption is cheap (low outflows), secondary goes higher etc.
nein
how
Noรฉ
yes you can
Mateus Ball
but you locked people up by actually taking their money.
nein
u can't even arb this
nein
arb what?
EVERYONE knew what the USD0++ was BUT you saying that you're gonna floor it at 0.85 MADE it worseNoรฉ
we'll see boss
smart
you should have warned, in fact people lost money, because now you can buy usd0++ with a discountMateus Ball
you should have warned, in fact people lost money, because now you can buy usd0++ with a discount
JaharakaL
Whole market is dumped today what are you talking about?
nein
EVERYONE knew what the USD0++ was BUT you saying that you're gonna floor it at 0.85 MADE it worse
Noรฉ
because free 1:1 redeem has ended, as planned, just like during pre launch
It's very clear, if you want more details just read the whitepaper: it's written there since the beginningnein
BRO if it's clear WHY do you think the market dumped TODAY?
Noรฉ
USD0++ is a bond, what depeg are you talking about, it's not a stablecoin boss
Noe this announcement is terrible tbh NOTHING is clear about the redemption 1:1 process with USUAL feeNoรฉ
It's very clear, if you want more details just read the whitepaper: it's written there since the beginning
nein
IF THE redemption process was clear there won't be a panic depeg like that
Noe this announcement is terrible tbh NOTHING is clear about the redemption 1:1 process with USUAL fee
zo
Could it be more than the pending reward I received?
Is the waiting period of 7 days after stacking usual to usualx common for everyone? Will I get the culmative 7 day rewards after the waiting period?yasiaforever81
No actually, and it's crazy
andrewdubai
I am enjoying people screaming like the first time ๐
Noรฉ
depends on the weekly outflows and time before maturity: basically zero to 6 months of rewards
Noรฉ
It's instant
zo
yes
Noรฉ
the $USUAL fee?
nein
enjoy beeing locked for 4 years
stashed
do you know how long the unstaking will take next week?
zo
How much will the compensation be deducted if I withdraw 1:1?
Do I understand correctly that yesterday I could easily exchange usd++, but today I have to pay 13%?)))Mateus Ball
Do I understand correctly that yesterday I could easily exchange usd++, but today I have to pay 13%?)))
Noรฉ
# ๐ฉใsupport-contact
i'll ask the team to double check
open a ticket, I'll check tomorrow tbh
Leloucheow
So how to fix it?
Noรฉ
you could have a bug where claimable rewards are included in the "Pending"
Leloucheow
but 3 days in a row nothing going on. 7 day period passed for 3 batches they are still not claimable
Leloucheow
Yes i know it
Noรฉ
it's not a batch
I bought Jan YT's on pendle farmed around 13k USUAL 6k of them unlocked after 7 day period but other 7k stay locked 3 days in a row. But 7 day period already passedNoรฉ
Only the part older than 7 days becomes claimable boss, day by day
Leloucheow
I bought Jan YT's on pendle farmed around 13k USUAL 6k of them unlocked after 7 day period but other 7k stay locked 3 days in a row. But 7 day period already passed
Noรฉ
for USD0++ to USD0 yes, but PT-USD0++ to USD0++ is safe
JaharakaL
@maagi try to "unstack" and see the numbers
Mava (AI Support)
USUALx acts like a vault share, meaning its amount remains constant. However, over time, you're able to withdraw more USUAL with them as your rewards accumulate. To view your rewards, simulate an unstake: the withdrawal amount will include your rewards (minus a 10% unstaking fee).
Mava AI Betamaagi
I don't see any increase in the wallet share of usualx for past two days since stacking begin
hello should i hold USD0++ to get USUAL rewards that i farmed before with USD0++ before? I'm talking about rewards post TGE. Around 3 days in a row no unlocks on my usual. 40% Unlocked but other 60% seems stuckNoรฉ
I'm not sure to understand boss
stashed
ohh ok i get it now i give my usual rewards
but if I wanna sell my PT into USD0++, and then USD0++ into USD0, this last process needs me to pay some amount of $USUAL to exit right? Since holding PT hasnt given me any accured $USUAL yields, does it mean that I cant use this exit mechanism at all (so I can only exit through the 0.87 floor price of Unconiditional Exit)?meow239487lasf
@Noรฉ
Mateus Ball
Do I understand correctly that yesterday I could easily exchange usd++, but today I have to pay 13%?)))
Noรฉ
You'll be able to redeem USD0++ for USD0 at 1:1 versus sacrificing an amount in $USUAL yes
stashed
so usual wont? just wanna confirm
hello should i hold USD0++ to get USUAL rewards that i farmed before with USD0++ before? I'm talking about rewards post TGE. Around 3 days in a row no unlocks on my usual. 40% Unlocked but other 60% seems stuckLeloucheow
@Noรฉ
gryndamere
after 4 years actually
Mava (AI Support)
USUALx works as a vault share, meaning rewards are reflected directly in its value. You won't see 'pending rewards' in your wallet. Instead, your vault share increases in worth over time, allowing you to withdraw more USUAL when you decide to unstake.
Mava AI BetaNoรฉ
# ๐คใtroubleshooting boss
hello should i hold USD0++ to get USUAL rewards that i farmed before with USD0++ before? I'm talking about rewards post TGE. Around 3 days in a row no unlocks on my usual. 40% Unlocked but other 60% seems stuckMava (AI Support)
Yes, you should hold USD0++ to continue receiving USUAL rewards. After the TGE, your USD0++ will continue to yield rewards in the form of USUAL tokens. If you are not seeing any unlocks, it might be due to a delay or issue with the system. Please ensure that your USD0++ is still staked or held in a manner that qualifies for rewards.
Mava AI Betamaagi
I stacked usual to usualx 2 days ago but not seeing any rewards in my wallet.. why is it?
Leloucheow
hello should i hold USD0++ to get USUAL rewards that i farmed before with USD0++ before? I'm talking about rewards post TGE. Around 3 days in a row no unlocks on my usual. 40% Unlocked but other 60% seems stuck
Noรฉ
at the floor price basically
Noรฉ
versus $USUAL, yes
Mava (AI Support)
Yes, the PAR (Parity Arbitrage Right) mechanism remains relevant. It is a contingency measure designed to stabilize the system if the market price of USD0++ deviates significantly from its peg. This mechanism ensures market stability and protects the interests of participants.
Mava AI Betastashed
so 1 usd0++ will be 1 usd0 correct sometime next week>