#
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 2
BRNDN
Thats a very good point. We can never exceed more than 50% staked lol
BRNDN
Why jan 20?
famousfxck
Youโre trying to swap on secondary with volatile rates
JVSNOVA
Nice, it wont take long. Usual ath soon
famousfxck
Iโm activating when Iโm rich again ๐ซก
JVSNOVA
Yo bro did you delete your X account? We are finally back, 1$ soon
ricardo
I lost usual tokens today? Yesterday I had more
0xjmslnr
+ in the future, DAO access (around 20M in the treasury for now)
(USUALx auto-compound, and looks like USD0 will be airdrop in your wallet, so don't need to claim looks like)
0xjmslnr
USD0 + USUAL as well
Cortina
pure USUAL is not a very attractive asset
no seriously. The more usual that is unstaked means better rewards for USUALx
0xjmslnr
so imagine when you are going to start to see USD0 on Binance wallets ๐
kiratsunami
u jk rright
Cortina
Binance holding USUAL in size is mega bullish for USUALx holders ๐
Kix
Isn't binance supply the supply trading for spot/perps?
famousfxck
And 40% in binance hotwallet (hasnโt moved since 44 days)
Almost 40% in USUALx
80% of total supply is locked insane
BRNDN
1 week
Sama Do ๐
Wich soon .. next year or hours ๐ซ
CongQ
$1 is literally fud
BRNDN
Ive earned 5% already on my position. Lol
joaan17
what happened to u man
CongQ
The most likely is USUAL v. nobody: charge of defamation, court is now in session
msulc (๐,๐)
check on debank, should display the correct number
Cortina
USUALx only started earning USD0 rewards Jan 13
Jan 20
Cortina
you won't see it until end of epoch
Thim
How ?if I trying to unstake I see only usual
CongQ
Exit is probably more like community service lmao
Mava (AI Support)
Yes, when you stake USUAL into USUALx, your rewards are in USD0. These rewards should be directly dropped in your wallet or claimable. However, they do not show up under the classic 'Pending Rewards' section. You can see them when trying to unstake.
Mava AI BetaThim
I have rewards in usd0 with stake usualx .correct ? Uso0 where I see it?
Mava (AI Support)
To see the rewards for USUALx, you need to simulate an unstake. The withdrawal amount will include your rewards, minus a 10% unstaking fee. Essentially, your vault share increases in worth over time, allowing you to withdraw more than you initially deposited.
Mava AI BetaThim
where i see the rewards for usualx
Mava (AI Support)
To view your rewards for USUALx, you need to simulate an unstake. The withdrawal amount will include your rewards, as USUALx acts like a vault share. The rewards are reflected directly in its value and do not appear under 'Pending Rewards'.
Mava AI Betabut you get yield with it, and it's value goes up
you can buy usd0++ now for 0.9 and in 3.5 you are sure it's going to 1usd + the yield
BingChilling
yes risk free + yield
Thim
where i see the rewards for usualx
Mo
Number of usualx is the same and number of usual is getting lower
BingChilling
indeed for exit ๐
kiratsunami
but you get yield with it, and it's value goes up you can buy usd0++ now for 0.9 and in 3.5 you are sure it's going to 1usd + the yield
Mava (AI Support)
When you stake USUAL for USUALx, the amount of USUALx you receive is proportional to your share of the rewards. If you notice a decrease, it might be due to the 10% unstaking fee or fluctuations in the secondary market rates. It's important to compare the USUAL amount you initially staked, minus the 10% fee, rather than focusing solely on the USUALx amount.
Mava AI BetaMo
Staked usual for usualx, why is it decreasing over the past 2 days ??!
CongQ
Lmao with parole
usd0 is just a stable coin without any value ...
it's like USDT or USDC nothing more nothing lessBingChilling
yes usd0++ is just usd0 goes to jail for 4 years
CongQ
USD0 is a stable coin backed by on chain US Treasury bills verifiable by individuals, canโt say the same about USDT / USDC
jcojkd
yeah more like a dividend, I get it
kiratsunami
usd0 is just a stable coin without any value ... it's like USDT or USDC nothing more nothing less
So the reward in USD0 at the end of each weekly epoch is going to be redistributed directly to web3 wallets or to dApp?jcojkd
So the reward in USD0 at the end of each weekly epoch is going to be redistributed directly to web3 wallets or to dApp?
Profits
Do I earn USD0 for staking Usualx ?
Then thatโs is not a yield, thatโs is just an exchange rate increasing or decreasing
Mava (AI Support)
USUALx acts like a vault share, meaning the amount of USUALx you hold remains constant. However, over time, the value of your vault share increases, allowing you to withdraw more USUAL tokens when you decide to unstake. This is because the rewards are reflected directly in the value of USUALx, not as an increase in the number of tokens. References: 1
Mava AI BetaProfits
My vault share does not increase, It is the same number of usualx I had all along
So many scammers on here, are am I getting over 15 friend requests in just 5 minutes
Unstaking is showing that I will be charged I am already down half of my investment
xstryder
Current Ut is 0.0009. Is it possible due to lower TVL, Ut might become more in the future like 0.0015 for example thus require users to burn more usual than current calculation?
Profits
How do I receive my reward for staking usualx ?
I do not understand, I tried that now and itโs showing me the same number of usualx that I have
I have staked my usual for usualx for over a week and I have not received any reward, what could be the problem .. please adviseMava (AI Support)
USUALx works as a vault share, meaning rewards are reflected directly in its value. Unlike USD0++ rewards, they donโt appear as 'Pending Rewards.' To view your rewards, simulate an unstake: the withdrawal amount will include your rewards (minus a 10% unstaking fee). Essentially, your vault share increases in worth over time, allowing you to withdraw more than you initially deposited. References: 1,2
Mava AI BetaProfits
I have staked my usual for usualx for over a week and I have not received any reward, what could be the problem .. please advise
CongQ
Dude how you get pioneer, man want pioneer too
Drastically down = USUAL price up either way we gucci.
famousfxck
If we get this amount every month during the whole year. We chillin ๐
CongQ
Same, free monayy
famousfxck
Increased like 10% since yesterday. But USUALx stakers going parabolic
Will to, thanks for the help. Make sure to get some rest as well, you're here anwering questions whenever I drop by!
Noรฉ
Youโre welcome sir! Iโll try haha
famousfxck
For some reason my USD0 reward are going up, lets gooo
It's because you're getting routed through the secondary market (better rate) but that rate can still vary.
If you want the net total (amount deposited + rewards, excluding any fee), check it on Debank 
CongQ
Or are you
famousfxck
Bro is wearing a wig lol
CongQ
How arenโt you bald yet
Noรฉ
I try to keep track of how many Usual I will get from my UsualX and the number dipped from 9640 -> 9500 between 13th jan and today . I'm just trying to figure out the mechanism that would make that happen.
Gothicowiec
I have also that like you. So i was terribled.
BRNDN
When do the usd0 rewards to usualx get distributed
I try to keep track of how many Usual I will get from my UsualX and the number dipped from 9640 -> 9500 between 13th jan and today . I'm just trying to figure out the mechanism that would make that happen.Noรฉ
It's because you're getting routed through the secondary market (better rate) but that rate can still vary.
If you want the net total (amount deposited + rewards, excluding any fee), check it on Debank
You are automatically routed through the secondary market when the rate is better than primary (unstaking directly). Basically when the rate is better than a -10% on the amount.Mava (AI Support)
USD0++ PTs (Principal Tokens) are mentioned in the context of their maturity and value. They are expected to have a 1:1 value with their principal at maturity. If you are referring to a specific issue or resolution, please provide more details.
Mava AI Beta
Pronounce
Was there a resolution for USD0++ PTs? I didnโt see them mentioned but could have missed
So, "Unstaking" is not always available, and converting Usualx -> Usual can sometimes lead to Swapping on a secondary market instead, and rates might be as good as when unstaking?Noรฉ
You are automatically routed through the secondary market when the rate is better than primary (unstaking directly). Basically when the rate is better than a -10% on the amount.
glennbech
So, "Unstaking" is not always available, and converting Usualx -> Usual can sometimes lead to Swapping on a secondary market instead, and rates might be as good as when unstaking?
Mava (AI Support)
Yes, when you use the secondary market, you are essentially swapping rather than staking. This means you are not subject to the unstaking fees that apply when unstaking directly through the Usual platform.
Mava AI BetaKix
Does Usual * (star) benefit from the revenue switch?
Gothicowiec
So i dont have staking only swaping because i am using secondary market? ๐
Noรฉ
secondary market = swapping (exchanging), not unstaking = no unstaking fees but rate can vary
Noรฉ
Sir, you have a banner showing that you are routed through the secondary market
Sorry for needing with a Spoon. On thre 9th of Jan, I could Unstake my Usual X to 9500 Usual (before fee) - today, on the 15th I get- or less the same (9500) . Two days ago I could withdraw 9640. Is this because of price differences between Usualx and Usual?Noรฉ
Your order is probably routed through a secondary market pool. This is swapping, not unstaking, so there's indeed no unstaking fee from the protocol, buuut, it could be priced in in the conversion rate by the secondary market itself. Since this pool isn't supported by Usual, there could also be an error when trying to do that, lack of liquidity, variation in the rate etc.
Gothicowiec
I dont have fee.. But when I started staking I had 12,772 uduals
i dont understand this. On debank i have +111 usuals its +37 per day. But why if I want unstake on usual.money my ammount of usualx to usual is less then i start stake?Noรฉ
Debank is the net total (amount deposited + rewards), while when you are unstaking on the dApp, the amount displayed can be: - through the secondary market (rates vary) - primary market (10% unstaking fee)
Sorry for needing with a Spoon. On thre 9th of Jan, I could Unstake my Usual X to 9500 Usual (before fee) - today, on the 15th I get- or less the same (9500) . Two days ago I could withdraw 9640. Is this because of price differences between Usualx and Usual?Mava (AI Support)
The fluctuation in the amount of USUAL you can withdraw is not due to price differences between USUALx and USUAL. USUALx acts like a vault share, and its value in terms of USUAL increases over time as rewards accumulate. The amount you can withdraw may vary due to the accumulation of rewards and the timing of your withdrawal.
Mava AI Betaglennbech
Sorry for needing with a Spoon. On thre 9th of Jan, I could Unstake my Usual X to 9500 Usual (before fee) - today, on the 15th I get- or less the same (9500) . Two days ago I could withdraw 9640. Is this because of price differences between Usualx and Usual?
i dont understand this. On debank i have +111 usuals its +37 per day. But why if I want unstake on usual.money my ammount of usualx to usual is less then i start stake?
Ekosone
there's a 10% unstaking fee I believe
The Faceless Shepherd
There will be a pendle market for iUSD0++ I assume
i dont understand this. On debank i have +111 usuals its +37 per day. But why if I want unstake on usual.money my ammount of usualx to usual is less then i start stake?Mava (AI Support)
The spread between USUAL and USUALx is because USUALx acts like a vault-share, which is proportional to your share of the rewards. When you stake USUAL, the conversion rate is not 1:1 because USUALx represents your share of the rewards. Additionally, there is a 10% fee for unstaking, which may affect the amount you receive when you convert back to USUAL.
Mava AI BetaGothicowiec
i dont understand this. On debank i have +111 usuals its +37 per day. But why if I want unstake on usual.money my ammount of usualx to usual is less then i start stake?
Ekosone
Okay thanks for the clarification!
Noรฉ
our tokenomics team will soon update the Dune dashboard
Hi @Ekosone, the APY on Dune is incorrect, and the one on the dApp is correct
Hi @Noรฉ I am still seeing different APY on Dune dashboard vs USUAL website. Dune says 26.20% for USD0/USD0++ LP vs 30% as shown on website UI. Do we know which one's right? Could team fix this so as not to confuse investors?Mava (AI Support)
It seems there is a discrepancy between the APY figures on the Dune dashboard and the Usual website. This could be due to a UI issue or a difference in data sources. I recommend reaching out to the Usual team to address this inconsistency and ensure clarity for investors.
Mava AI BetaEkosone
Hi @Noรฉ I am still seeing different APY on Dune dashboard vs USUAL website. Dune says 26.20% for USD0/USD0++ LP vs 30% as shown on website UI. Do we know which one's right? Could team fix this so as not to confuse investors?
I saw written somewhere that the maximum number of usual will be 4B because of maths if this is true is there a also theoritical maximum of usualX ?Mava (AI Support)
The maximum supply of $USUAL is indeed capped at 4 billion. However, there is no specific information available about a theoretical maximum for UsualX. The details about UsualX's supply or cap are not mentioned in the available documentation.
Mava AI Betaflyingfish
I saw written somewhere that the maximum number of usual will be 4B because of maths if this is true is there a also theoritical maximum of usualX ?
Basically, USD0++ would have to be unlocked for its underlying USD0, which would have to be redeem for its own underlying USYC.
Which is 100% possible, but this means that a lot of Early Redemption would happen, making the cost go high, increasing USUALx's attractivity etc etc.The Faceless Shepherd
Arbitragers that can redeem USD0 to USYC are permissioned right?
CongQ
Artificial 1:1 โpegโ created using underlying collaterals could actually lead to decrease in revenue I think.
Basically, USD0++ would have to be unlocked for its underlying USD0, which would have to be redeem for its own underlying USYC.
Which is 100% possible, but this means that a lot of Early Redemption would happen, making the cost go high, increasing USUALx's attractivity etc etc.what would be the scenario where TVL decrease then, people redeem USD0 to USYC?Noรฉ
Basically, USD0++ would have to be unlocked for its underlying USD0, which would have to be redeem for its own underlying USYC. Which is 100% possible, but this means that a lot of Early Redemption would happen, making the cost go high, increasing USUALx's attractivity etc etc.
JohnCarraway
Are there ui changes that fix balance and acrue assets ?
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...Noรฉ
Btw, the TVL does not increase -> revenue does not increase part is false - Revenue auto compounds in the underlying collateral, plus parts of Early Redemption and USUALx unstaking fees are redirected to USUALx's APY, increasing attractivity for the whole Usual ecosystem.
BingChilling
Why i hold usdt didnt get usdt reward?
Mava (AI Support)
USD0 holders do not receive USUAL rewards directly. Instead, rewards are distributed to USD0++ holders in the form of USUAL tokens. USD0++ is a Liquid Staking Token that represents staked USD0, and it generates yield in USUAL tokens. Reference: 1
Mava AI Beta
MBP | Usual Code: Q2TC5
hey, why USD0 holder didnโt get any usual rewards?
Also, you're assuming that TVL would only come from USD0++. Don't forget that it originally comes from USD0, so more utility could be added to that. Plus, new products are coming :)The Faceless Shepherd
what would be the scenario where TVL decrease then, people redeem USD0 to USYC?
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...
The Faceless Shepherd
yeah probably
CongQ
Prob wonโt ever be liquid enough lol
The Faceless Shepherd
wait really? then it can actually be hedged lol
CongQ
Thereโs a poly pool running for USD0pp price prediction
Well, there's two things already coming:
- A new pool, with a new structure and incentives
- The vault with sUSDe. Since depositing USD0++ there gives you 1:1 exposure to sUSDe, you effectively can buy USD0++ under 1$ on the secondary market while having a 1$ exposure on the vault until withdrawing. This, should, create an equilibirum closer to 1$.The Faceless Shepherd
Lets see how it plays out, hopefully it works
The Faceless Shepherd
APY depends on revenue, no TVL no revenue, current token price is based on expected TVL growth, and if people only buying USD0++ from secondary market, TVL will never increase and sometimes decrease due to redemption
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...Noรฉ
Well, there's two things already coming: - A new pool, with a new structure and incentives - The vault with sUSDe. Since depositing USD0++ there gives you 1:1 exposure to sUSDe, you effectively can buy USD0++ under 1$ on the secondary market while having a 1$ exposure on the vault until withdrawing. This, should, create an equilibirum closer to 1$.
Klinta
Prob usualx
The Faceless Shepherd
You talking about USUALx or USD0++?
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...glennbech
You donโt think that APY will incentivise people to lock in ?
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...
Aper
yeah, if the team don't do something to regain market faith, that's the future
The Faceless Shepherd
Because if USD0++ remains under -> people will only buy from secondary market -> TVL does not increase -> revenue does not increase -> $USUAL price does not increase -> USD0++ APY does not increase thus making USD0++ less attractive and USD0++ demand decrease -> USD0++ price goes lower -> ...
Can the number of usual (before fee) received during usual x unstake shrink over time ? And how ?Mava (AI Support)
The number of USUAL you receive when unstaking USUALx does not shrink over time due to any inherent mechanism. However, there is a 10% unstaking fee applied to the amount you unstake, which affects the final amount you receive. The spread between USUAL and USUALx is due to USUALx acting like a vault-share, which is proportional to your share of the rewards.
Mava AI Betaglennbech
Can the number of usual (before fee) received during usual x unstake shrink over time ? And how ?
@Noรฉ Quick question, since you guys can redeem 1:1 for USD0++, in extreme scenarios, for example there are signs that the project is going on negative spiral, would you guys consider performing arbitrage to peg USD0++ price in order to boost market confidence?Aper
that's the main point, the faith of new users is crashed, no one will put new money in
Noรฉ
Could you open a ticket and send me the details ( # ๐ฉใsupport-contact ) ? I'll double check the rewards and calculations for you
CongQ
Okay but your equation doesnโt take compounding into account tho.
The Faceless Shepherd
@Noรฉ Quick question, since you guys can redeem 1:1 for USD0++, in extreme scenarios, for example there are signs that the project is going on negative spiral, would you guys consider performing arbitrage to peg USD0++ price in order to boost market confidence?
Aper
Sacrificing sustainability for immediate gain IMO
It's not an attack boss, I'm just asking for your maths in order to be able to explain to you the difference
volodymyr
Fine, give me an example. I'm expecting to have ~70$ daily from 100k on curve LP
Mava (AI Support)
The $USUAL minting factor is determined by several variables including the Total Value Locked (TVL), revenue, and the market price of $USUAL. It specifies how many USUAL tokens are minted over four years per unit of locked collateral. This factor is distributed across different 'buckets' such as USD0++ holders, Curve LPs, and USUAL stakers. For a detailed explanation, you can refer to the Usual whitepaper: Usual Whitepaper.
Mava AI Beta
MBP | Usual Code: Q2TC5
hey how to determine the $USUAL Minting factor?
Well, I can understand that there could be a lack of education. But, we also have to agree that:
- Those things were explained everywhere and public since day 1
- Most of Usual's USD0++ investors are sophisticated investors, not plain retails, they are the one that should actually read the full detailsflyingfish
Your assumption was understandable but looking at the reactions it looks like there were way more uneducated people than expected. I personally am not very educated on investment and understood usd++ that way at first, certainly because I'm interested in crypto for the freedom and ownership it brings to the money more than the speculation. additionally I guess you want a mass adoption wich involves a majority of uneducated people
Aper
ppl will only think the project is unattractable and start to quit it not build and promote it, you can only earn this once
SHUVA
01/15/2025 at 15:40:13 ESTgmm
volodymyr
I'm not aware what "bond" is, but I'm pretty much aware what is APR/APY is
Noรฉ
It's not an attack boss, I'm just asking for your maths in order to be able to explain to you the difference
that's true, but you still hurt the new users, and earn the arb profit with VCs, that won't make the project successfull
ravished
replace VC with usual stakers and you are correct
that's true, but you still hurt the new users, and earn the arb profit with VCs, that won't make the project successfullNoรฉ
errrr I didn't know we arbed the profits with VCs, but okay
CongQ
UI is APY, which calculates compound effect.
volodymyr
Oh really, sir? I'm providing liquidity to quite a few pools
Noรฉ
we display the correct APY
Well, I can understand that there could be a lack of education. But, we also have to agree that:
- Those things were explained everywhere and public since day 1
- Most of Usual's USD0++ investors are sophisticated investors, not plain retails, they are the one that should actually read the full detailsAper
that's true, but you still hurt the new users, and earn the arb profit with VCs, that won't make the project successfull
Strange to hear this question. The math is simple: you have the amount put to the pool and the daily income you expect to haveNoรฉ
Sir, I'm asking this question because your math is probably wrong.
volodymyr
Multiply it by 365, get yearly figures and this is your APR
volodymyr
Strange to hear this question. The math is simple: you have the amount put to the pool and the daily income you expect to have
HPL
OK thank you, rewards for APY Usualx are calculated from 13.01 right?
And for people saying โomg 0pp scam, bonds donโt work this way, at least 100% capital. Gib money backโ
Gabee
Haha good catch
Noรฉ
the maths
Noรฉ
So what are the numbers ser
volodymyr
As I've said, I barely have 12%
I'm calculating APR
UI says the APY for providing liquidity on usd0/usd0++ (curve) is 26%. My own numbers are showing barely 12% at bestNoรฉ
What are your numbers?
UI says the APY for providing liquidity on usd0/usd0++ (curve) is 26%. My own numbers are showing barely 12% at bestCongQ
APY vs APR?
volodymyr
UI says the APY for providing liquidity on usd0/usd0++ (curve) is 26%. My own numbers are showing barely 12% at best
TVL dropped and USD0 APY dropped but my Projected USD0 increased. I like these Usualx tokenomics ๐ซก
Noรฉ
Yeah, definitely saw that 
CongQ
Crypto is space for Lambos and Mansions, not financial instruments 
i think the worst problem was the comunication the way it was presented looked like a saving account were your principal does not diminish and explains the fear imoNoรฉ
Well, I can understand that there could be a lack of education. But, we also have to agree that: - Those things were explained everywhere and public since day 1 - Most of Usual's USD0++ investors are sophisticated investors, not plain retails, they are the one that should actually read the full details
CongQ
You guys just way underestimated how many people never played with bonds b4 in crypto you guys def came from TradFi
The Faceless Shepherd
Now that it is already what it is, but imo a better way to handle it is that the floor being set to 0.87 in the first place, so that it was never pegged to $1 and start price discovery from the beginning, so that most people will buy from secondary and no one would have wrong expectation
flyingfish
i think the worst problem was the comunication the way it was presented looked like a saving account were your principal does not diminish and explains the fear imo
ravished
TVL dropped and USD0 APY dropped but my Projected USD0 increased. I like these Usualx tokenomics ๐ซก
please confirm if I am thinking correctly. To calculate the current added USUAL APY prizes, you need to convert Unstake from USUALx to USUAL and from the obtained value subtract the value of the original USUAL number transformed into USUALx. The obtained difference is the value of the added prizes?Mava (AI Support)
Yes, your understanding is correct. To calculate the added USUAL APY prizes, you would convert your USUALx back to USUAL and then subtract the original amount of USUAL you initially staked. The difference represents the added rewards or prizes.
Mava AI BetaHPL
please confirm if I am thinking correctly. To calculate the current added USUAL APY prizes, you need to convert Unstake from USUALx to USUAL and from the obtained value subtract the value of the original USUAL number transformed into USUALx. The obtained difference is the value of the added prizes?
CongQ
And people say itโs zero coupon, like you what
Noรฉ
very similar to USD0++
Penalty for CDs is also based on a number of months' interest
CongQ
Coupon is literally being paid in USUAL
Noรฉ
Agreed - but very similar regarding the duration, early withdrawal "penalty" etc. It is a way better comparison imho than a Zero Coupon (a lot of people compare it to that).
CongQ
Unlike thereโs a FP on USD0pp, so infinite active repurchase can be initiated by the bond holder
No auto swap currently, you have to manually buy USUAL to stake into USUALx, or just buy USUALx on secondary
JACH
In any of those cases i need to pay fees?
CongQ
So you could in a sense say TBills primary value is 0 UNTIL maturity
to be fair, if we had to compare USD0++ with a TradfFi product, it would be Certificate of Deposits imhoCortina
yes, CD if the bank was also giving you equity
CongQ
Yes, and you know what, thereโs literally NO primary exit option in retail TBill portals like TreasuryDirect
to be fair, if we had to compare USD0++ with a TradfFi product, it would be Certificate of Deposits imhoflyingfish
don't forget that very few people know how this works
Cortina
Treasuries also aren't giving you land if you buy the bond
CongQ
Okay, letโs accuse US for โchanging the bond priceโ first
Noรฉ
to be fair, if we had to compare USD0++ with a TradfFi product, it would be Certificate of Deposits imho
flyingfish
let's sue the US government
Cortina
eeesh, look at that spread. USD0++ much tighter.
Noรฉ
in a way
similar
And for people saying โomg 0pp scam, bonds donโt work this way, at least 100% capital. Gib money backโEkosone
that's a very long duration bond, mat. in 2050, very different to USD0++
ok what do they do to move they send their tokens elsewere ? is there a timeframe to move and if not taken you're stuck in the old version ?The Faceless Shepherd
The token contract did not upgrade, core protocol contract upgraded, for example factory, router, pool contracts, etc, so $UNI holders did not have to do anything, but liquidity providers have to withdraw and deposit to new version if they want to migrate
CongQ
Thatโs a 100 dolla value bond, omg Apple running scam
MBP | Usual Code: Q2TC5
look at weekly candle, its look like a Lower High to me
For example, uniswap was immutable, and when they upgrade from v1 to v2, its a new set of contracts, and eventually everyone moved to v2, and then there was v2 to v3, now still a lot of people use v2flyingfish
ok what do they do to move they send their tokens elsewere ? is there a timeframe to move and if not taken you're stuck in the old version ?
Usual finally in the green today. Gonna be popping bottles in the VIP tonight, @CongQ invitedCongQ
Def will present, what should I bring
CongQ
They have a LinkedIn page, also some interviews can be found on the tube
famousfxck
Usual finally in the green today. Gonna be popping bottles in the VIP tonight, @CongQ invited
Noรฉ
What do you want to know sir? I'm not understanding the question
CongQ
Pierre PERSON
famousfxck
Usual.casino coming soon btw (joking)
MBP | Usual Code: Q2TC5
just curious, want to know bout it.
Noรฉ
Noรฉ
lmfao
CongQ
So he can print unlimited chips
famousfxck
CEO is a gambling addict??? ๐
Noรฉ
Yes, what about them sir?
never been involved in an hard fork what hapends for you in that case how do you chose witch branch to take concretely ?The Faceless Shepherd
For example, uniswap was immutable, and when they upgrade from v1 to v2, its a new set of contracts, and eventually everyone moved to v2, and then there was v2 to v3, now still a lot of people use v2
MBP | Usual Code: Q2TC5
i mean the Usual Team aka people behind this project
I'm also leaning towards the practice that "if you upgrade, you have to hard fork", so the users can choose if they want to move to the new version or stay in the old versionCongQ
IMO In theory itโs a good practice WHEN protocols becomes fully mature, but in practice nothing ever matures to a perfect point, just like the Constitution it needs upgrade as we as a specie grows.
Ekosone
Okay I see
Mava (AI Support)
The $USUAL distribution is a fundamental part of how the protocol operates, rather than a temporary incentive. Therefore, there isn't a specific end date for these distributions as they are integral to the protocol's functioning.
Mava AI BetaEkosone
@Noรฉ oรฉ do we know til when will the Curve pool be receiving USUAL incentives??
I'm also leaning towards the practice that "if you upgrade, you have to hard fork", so the users can choose if they want to move to the new version or stay in the old versionflyingfish
never been involved in an hard fork what hapends for you in that case how do you chose witch branch to take concretely ?
famousfxck
Ex-politician who was always pro crypto btw
CEO of Usual is Pierre Person. You can find a lot of stuff about him. He has an interview on Binance YouTube like 1y ago and tons of other stuff
Noรฉ
Wdym sir?
famousfxck
No heโs like Satoshi Nakamoto
USUAL* accrue rewards (10% of the USUAL emission, like USUALx) but those rewards are cliffed over a yearKix
Does that mean all those staking rewards accrued in this 1y will be unlocked at once after this 1y ?
CongQ
Any projects with unlimited DAO voting too early WILL kill itself. people have no stake will just extract maximum short term value.
The Faceless Shepherd
I'm also leaning towards the practice that "if you upgrade, you have to hard fork", so the users can choose if they want to move to the new version or stay in the old version
MBP | Usual Code: Q2TC5
hey, any infos about Usual CEO?
CongQ
Rome wasnโt built in one day, all things come step by step
The Faceless Shepherd
but at least having a significant timelock would be better imo
Noรฉ
indeed
Well, I agree with you for a mature project, but I do think that new projects, in their early days, need to have that flexibility until their core products are releasedThe Faceless Shepherd
its a trade off
CongQ
The only promise made about the โpriceโ of USD0pp is that it WILL unlock on June 30 2028, and it WILL HAVE an early redemption mechanism, and nothing has been โchangedโ
I do know that but I still think zero day upgradability is bad practice in this space, this makes us no different than tradfitrump can also dissolve US into 50 countries on Jan 20 lmao, like what even is this argument, the team didnโt โsetโ a FP at the startThe Faceless Shepherd
Yes thats why we have blcokchain trying to build a decentralized alternative
I tried very hard to advocate immutability in this space
Noรฉ
USUAL* accrue rewards (10% of the USUAL emission, like USUALx) but those rewards are cliffed over a year
The Faceless Shepherd
I do know that but I still think zero day upgradability is bad practice in this space, this makes us no different than tradfi
Also whats worth to note is that moving forward, you have to trust the team if you want to use the product, because the team can further decrease the floor, or upgrade the contract to remove redemption, they are probably not going to do that, but they canCongQ
trump can also dissolve US into 50 countries on Jan 20 lmao, like what even is this argument, the team didnโt โsetโ a FP at the start
Mava (AI Support)
Staking $USUAL into $USUALx does not have a locking period, and your rewards accrue and autocompound over time. You can see the accumulated rewards when you try to unstake.
Mava AI BetaKix
Does usual* accrue staking rewards while vesting
Noรฉ
We only did stuff that is already planned and public - no big surprise here
The Faceless Shepherd
Yes I do know that
Noรฉ
I mean
Also whats worth to note is that moving forward, you have to trust the team if you want to use the product, because the team can further decrease the floor, or upgrade the contract to remove redemption, they are probably not going to do that, but they canNoรฉ
Well, you do know that the teams of 99% of the protocols can do that, right?
I donโt FOMO, I just want to understand whatโs going on. I think usual is a really good project and I trust it but sometimes informations are not clear from team projectThe Faceless Shepherd
Also whats worth to note is that moving forward, you have to trust the team if you want to use the product, because the team can further decrease the floor, or upgrade the contract to remove redemption, they are probably not going to do that, but they can
And the USD0 i get from reward can i swap to USUAL or USUALx?
If so, i will need to pay fees for staking?CongQ
No auto swap currently, you have to manually buy USUAL to stake into USUALx, or just buy USUALx on secondary
JACH
And the USD0 i get from reward can i swap to USUAL or USUALx? If so, i will need to pay fees for staking?
famousfxck
USUALx is definitely undervalued fr, but I donโt know if itโs smart holding USUAL in the beginning phases.
Noรฉ
You get the best rate automatically, meaning, you get routed through the secondary if it's better than the 10% unstaking fee on the primary.
The Faceless Shepherd
If you just want a stable coin then yes
JACH
Ok, how can i remove that?
MBP | Usual Code: Q2TC5
USUALX is better cause Revenue Swicth activation
Whats going on is:
1, If you market buy USD0++ now, its probably a good option compared to other alternatives
2, If you staked USD0++ a few months ago, you are probably doing good because you got a lot of reward
3, If you staked USD0++ a few days before the floor change, you are screwed because you could have waited for the floor change and buy after, you lost 9% of the value, but thats on you because you did not dig deep enough to realize the team can change the floor instantly at any time with no prior notice and they said they are doing it in Q1famousfxck
USD0 is a better product than USD0++ imo
I donโt FOMO, I just want to understand whatโs going on. I think usual is a really good project and I trust it but sometimes informations are not clear from team projectThe Faceless Shepherd
Whats going on is: 1, If you market buy USD0++ now, its probably a good option compared to other alternatives 2, If you staked USD0++ a few months ago, you are probably doing good because you got a lot of reward 3, If you staked USD0++ a few days before the floor change, you are screwed because you could have waited for the floor change and buy after, you lost 9% of the value, but thats on you because you did not dig deep enough to realize the team can change the floor instantly at any time with no prior notice and they said they are doing it in Q1
Noรฉ
@JACH you were probably using the secondary market, so the rate can vary
Can some one help me with 2 questions?
I have USUAL in Stake, the USUALx that I generate as a reward accumulate with the rest and therefore the profits increase?
Yesterday I staked with 203 USUAL, but today when I saw how much the change would be, it told me that it would be 199. Why is this happening?
Yes, to few USUALs but can risk more if i dont understand More about this.BingChilling
The conversion rate move up/down abit nothing significant you still earn alot usual
Like I understand that all altcoins are pumping and going to the infinite moon and youโre having FOMO.Sumodu44
I donโt FOMO, I just want to understand whatโs going on. I think usual is a really good project and I trust it but sometimes informations are not clear from team project
Can some one help me with 2 questions?
I have USUAL in Stake, the USUALx that I generate as a reward accumulate with the rest and therefore the profits increase?
Yesterday I staked with 203 USUAL, but today when I saw how much the change would be, it told me that it would be 199. Why is this happening?
Yes, to few USUALs but can risk more if i dont understand More about this.Mava (AI Support)
Yes, when you stake USUAL, the USUALx you generate as a reward accumulates with the rest, increasing your profits over time. Regarding the change from 203 USUAL to 199, this could be due to the conversion rate between USUAL and USUALx. The conversion rate is not 1:1 because USUALx acts like a vault-share, which is proportional to your share of the rewards. This means that the value of USUALx can fluctuate based on the rewards distribution.
Mava AI BetaJACH
Can some one help me with 2 questions? I have USUAL in Stake, the USUALx that I generate as a reward accumulate with the rest and therefore the profits increase? Yesterday I staked with 203 USUAL, but today when I saw how much the change would be, it told me that it would be 199. Why is this happening? Yes, to few USUALs but can risk more if i dont understand More about this.
famousfxck
But then Usual was never for you. Or well DeFi is just not for you tbh
Like I understand that all altcoins are pumping and going to the infinite moon and youโre having FOMO.
Bro everything in this project is made to last YEARS, this is longterm only
Itโs either that or 10% unstake fee
famousfxck
Itโs a secondary market bro so itโs volatile
The Faceless Shepherd
if you hold until maturity then yes, but there is a thing called yield curve, 7 day lock should trade at higher price than 4 year lock
no 1$ sUSDe PT is almost 1$ from secondary market, but 1 USD0++ or 1 USD0++ PT on secondary market is $0.91BingChilling
what i mean if you still hold your pas usd0++ $1 not right now. and held until maturity
Sumodu44
So itโs not bad for you?
Bro do you know David Gokhstein? Dude has his own news agency right now.
Bro was a shady car seller in 2017, and participated as a KOL to promote literally rugs. He was in one which I lost all my portfolio back in the day, -2K$.BingChilling
yes i listen to his twitter space for pepe and then rug memecoin lol
yes even before you bought $1 and you buy same $1 amount of usde and then u farm pendle and thn you exit in 2nd market is it still profitable the output ?The Faceless Shepherd
no 1$ sUSDe PT is almost 1$ from secondary market, but 1 USD0++ or 1 USD0++ PT on secondary market is $0.91
depends on when you got USD0++ at 1$, if you got it early then the past reward already covers the loss of market value, but if you got it right before floor change its a pure Lreputation number one in crypto space - said no one ever lol.
i'm from last cycle everybody in spaces slimy affamousfxck
Bro do you know David Gokhstein? Dude has his own news agency right now. Bro was a shady car seller in 2017, and participated as a KOL to promote literally rugs. He was in one which I lost all my portfolio back in the day, -2K$.
yes even before you bought $1 and you buy same $1 amount of usde and then u farm pendle and thn you exit in 2nd market is it still profitable the output ?The Faceless Shepherd
depends on when you got USD0++ at 1$, if you got it early then the past reward already covers the loss of market value, but if you got it right before floor change its a pure L
another note is to not use Ethena in bear market, because thats when funding rates turn negative and it will start loosing money
Whhiskyy
i just need to predict bull & bear market lol. but i agree with you
but for those bought USD0++ before floor change they lost significant value because they could have waited for after floor change and get it cheaper from secondaryBingChilling
yes even before you bought $1 and you buy same $1 amount of usde and then u farm pendle and thn you exit in 2nd market is it still profitable the output ?
Sir, there is different products with different mechanisms and risk profiles - most farmers use various platforms at the same time. It's not "one rules them all".The Faceless Shepherd
yeah of course, I'm not promoting using only one, better to diversify
Cortina
Ethena risks broadly speaking are any of 5 custody exchanges pulling an FTX or having a Bitfinex style exploit themselves as well as some operational risk with the carry trade. Risk is pretty low but its there.
if it give 10% then no because DAI has 12% APR is no lock, but with Pendle it has 19% and relative liquid, you dont loose much if you exit on secondary marketNoรฉ
Sir, there is different products with different mechanisms and risk profiles - most farmers use various platforms at the same time. It's not "one rules them all".
The Faceless Shepherd
but for those bought USD0++ before floor change they lost significant value because they could have waited for after floor change and get it cheaper from secondary
BingChilling
even you buy $1 before still profitable if you have same ammount both farm pendle and exit in 2nd market ?
The Faceless Shepherd
Currently I would say market buy USD0++ is better than sUSDe,
if it give 10% then no because DAI has 12% APR is no lock, but with Pendle it has 19% and relative liquid, you dont loose much if you exit on secondary marketBingChilling
i mean you farm usd0++ - exit fee better apy than susde - exit rate?
You probably werenโt here, but Justin Sun is a famous scammer from 2017. Rugged multiple projects for his own benefit. The only reason he got this rich was graduating from Ali Babas university, taking a picture with him. Used that as marketing to pump TRX. Launching multiple side projects that rugged to 0$. Using that money to buy cheap crypto and then got rich lolBingChilling
reputation number one in crypto space - said no one ever lol. i'm from last cycle everybody in spaces slimy af
another note is to not use Ethena in bear market, because thats when funding rates turn negative and it will start loosing moneyfamousfxck
Ethena has never been tested in a full horrible bearmarket. If bearmarket was like 2018-2019, Ethena would be zero now
another note is to not use Ethena in bear market, because thats when funding rates turn negative and it will start loosing moneyCortina
thats not how ethena works ser
famousfxck
Dude was promoting a partnership with AWS, but there was no partnership he was just using the platform ๐๐๐๐๐๐ itโs like Iโm having a partnership with Discord now
The Faceless Shepherd
if it give 10% then no because DAI has 12% APR is no lock, but with Pendle it has 19% and relative liquid, you dont loose much if you exit on secondary market
famousfxck
You probably werenโt here, but Justin Sun is a famous scammer from 2017. Rugged multiple projects for his own benefit. The only reason he got this rich was graduating from Ali Babas university, taking a picture with him. Used that as marketing to pump TRX. Launching multiple side projects that rugged to 0$. Using that money to buy cheap crypto and then got rich lol
Sumodu44
Maybe depends on how many usual are stake
Ethena is the better yield generating stablecoin, if your priority is yield, then go with it, DAI has the least counter party risk, so if you dont want to trust anyone, use DAI, USDC is more stable than USDe and DAI, and the team is somewhat trust worthy, but if you are already holding DAI, dont hold it because its not risk isolated. USDT's only advantage compared to others on the list is that its less influenced by the US, so if you are worried about US sanctions, use USDTBingChilling
even tho it give 10% is it worth the risk because it lock u 7 days
The Faceless Shepherd
another note is to not use Ethena in bear market, because thats when funding rates turn negative and it will start loosing money
BingChilling
then you can farm there he launch usdd2.0
The Faceless Shepherd
Ethena is the better yield generating stablecoin, if your priority is yield, then go with it, DAI has the least counter party risk, so if you dont want to trust anyone, use DAI, USDC is more stable than USDe and DAI, and the team is somewhat trust worthy, but if you are already holding DAI, dont hold it because its not risk isolated. USDT's only advantage compared to others on the list is that its less influenced by the US, so if you are worried about US sanctions, use USDT
BingChilling
right conversion rate up and down i've check 1.18 last time
Or just invest into USDD which depegged more than 10 times and had 2M$ volume today, donโt ask where yield is coming fromEkosone
From Sun's pocket which is larger than Usual's entire TVL tbf
Sumodu44
No, before it increase but just this afternoon it decrease
famousfxck
He is right tho, it was 1.19 but now itโs back at 1.16
famousfxck
He means the rate of USUALx/USUAL on secondary
BingChilling
and your coin decrease everyday ? are you sure ? ๐
Sumodu44
One week
BingChilling
how long have you stake?
Sumodu44
I already did that and the total is really decreasing
Ethena is also managed in a centralized way, so it shares similar counter party risk like Tether, Circle, Usual, the APY of it is less inflated than USD0++ though, because a less portion of it comes from emission,
For MakerDAO, DAI is immutable, so less counter party risk, however, part of it is backed by USDC, so its not completely risk isolated with USDC, also its largely backed by volatile assets, so its less stable than those that are 100% backed by t-bills. The yield in DSR is low but pretty stable, directly emitted from DAO revenue. USDS is a wrapper on top of DAI with disgusting governance functions and proxies, so its inferior in every way compared to DAI
Those on Tron, BSC, XRP I don't look, because I dont think these L1s are sufficiently decentralized anywayBingChilling
so what your personal opinion between tether circle usual makerdao and ethena ?
The Faceless Shepherd
Tier list is gonna be hard, because its not one dimentional, there are the yield aspect, backing, counter party risk, different angle
fab1440
tether who made me rich i was arbitraging tether back in the day
BingChilling
well u biased then lol
what about the other like ethena, makerdao, xrp rlusd, tron usdd, binance fdusd. any tier list ?The Faceless Shepherd
Ethena is also managed in a centralized way, so it shares similar counter party risk like Tether, Circle, Usual, the APY of it is less inflated than USD0++ though, because a less portion of it comes from emission, For MakerDAO, DAI is immutable, so less counter party risk, however, part of it is backed by USDC, so its not completely risk isolated with USDC, also its largely backed by volatile assets, so its less stable than those that are 100% backed by t-bills. The yield in DSR is low but pretty stable, directly emitted from DAO revenue. USDS is a wrapper on top of DAI with disgusting governance functions and proxies, so its inferior in every way compared to DAI Those on Tron, BSC, XRP I don't look, because I dont think these L1s are sufficiently decentralized anyway
kiratsunami
lmeow
fab1440
f!cck him
BingChilling
yes you can check in debank more accurete i think
i would say tether on its own league not even close i hope they create their own bank so i put all my money with themSumodu44
You mean in unstake ?
Why is the usual currency not moving and it has been continuously declining for more than two weeks? Is it possible to achieve $2 within two months?Mava (AI Support)
The decline in the Usual currency could be due to several factors such as market conditions, lower revenue, governance adjustments, or a decline in the $USUAL market price. Achieving a specific price target like $2 within two months would depend on various factors including market demand, overall crypto market trends, and any strategic moves by Usual Labs to enhance the currency's value. Predicting exact price movements is challenging and speculative.
Mava AI BetaI staked coins monday i had 503 usual this morning and now 494. Itโs not the unstaked fee itโs just weirdSumodu44
Itโs like the value of usualx is decreasing
Safar
Why is the usual currency not moving and it has been continuously declining for more than two weeks? Is it possible to achieve $2 within two months?
I staked coins monday i had 503 usual this morning and now 494. Itโs not the unstaked fee itโs just weirdBingChilling
check in debank dude
2021: DeFi
Okay guys donโt ask where the yield is coming from. Youโre coins are ALWAYS pegged to 1$.
People: cool it safe ๐
-> Completly rugged to 0
2025 DeFi:
okay guys here is a list of blogs, FAQ, whitepaper, different websites explaining how revenue is made. Also please understand that itโs not a stablecoin so not always pegged to 1$!!!!
People: ok we donโt care we will ape now and blame it on you if itโs not pegged ๐คทโโ๏ธBingChilling
exaclly peg by hope and dream everybody know it risk
famousfxck
2021: DeFi Okay guys donโt ask where the yield is coming from. Youโre coins are ALWAYS pegged to 1$. People: cool it safe ๐ -> Completly rugged to 0 2025 DeFi: okay guys here is a list of blogs, FAQ, whitepaper, different websites explaining how revenue is made. Also please understand that itโs not a stablecoin so not always pegged to 1$!!!! People: ok we donโt care we will ape now and blame it on you if itโs not pegged ๐คทโโ๏ธ
Sumodu44
I staked coins monday i had 503 usual this morning and now 494. Itโs not the unstaked fee itโs just weird
i would say tether on its own league not even close i hope they create their own bank so i put all my money with themBingChilling
they don't even have money in current bank lmao.
BingChilling
check in debank.com/profile/
it because maybe converted to unstake fee 10% you can exit 2nd market better ratefab1440
i would say tether on its own league not even close i hope they create their own bank so i put all my money with them
Mava (AI Support)
When you stake USUAL, you receive USUALx, which acts like a vault share. The number of USUALx you receive is proportional to your share of the rewards, not a direct 1:1 conversion. This is why it might seem like your USUAL decreases, but the value is represented in USUALx.
Mava AI Beta
Usual
BingChilling
i remember the rule of farming "usdd" don't ask where the yield come from it was fun
Sumodu44
Why when i stake usualx my number of usual decrease? I donโt understand this coin ๐
famousfxck
So many USUAL coins are getting staked lately holy, I keep seeing it rise
BingChilling
to be fair it was in doc and roadmap and whitepaper, they just implemented what they are promised
Tbh Usual has a safer form of revenue than all the other currencies atm
dude thats too many to compare, and there are so many different aspect, but I would say this:
1, In terms of counter party risk (not talking about other forms of risk): Circle > Tether > Usual (for usual you have to trust both Usual team and Hashnote team), based on track record, public presence, etc, also personal opinion, not say that I am right
2, In teams of all stable coins in general, personally I dont trust one single project, I allocate across several risk isolated stablecoins, and USD0 is one of themBingChilling
what about the other like ethena, makerdao, xrp rlusd, tron usdd, binance fdusd. any tier list ?
PAINNN
lol
on that acc u aren't
BingChilling
"us" mean people in here reading your comment i'm not team not even mods lol
The Faceless Shepherd
dude thats too many to compare, and there are so many different aspect, but I would say this: 1, In terms of counter party risk (not talking about other forms of risk): Circle > Tether > Usual (for usual you have to trust both Usual team and Hashnote team), based on track record, public presence, etc, also personal opinion, not say that I am right 2, In teams of all stable coins in general, personally I dont trust one single project, I allocate across several risk isolated stablecoins, and USD0 is one of them
Usual
BingChilling
yes u said u want said something but afraid getting ban you can try so people in here can read
BingChilling
try us your best
famousfxck
I will give you a thing for thought. In MY opinion, USD0++ is solely created to jump start the project for the long term. By locking revenue for USUALx holders, we get a safer beginning. We start with a high stable TVL, good revenue for USUALx. I truly believe that in max 4-6 months USD0++ will have atleast a 0.95$+ FP if the team promises what they deliver.
BingChilling
nope u can scroll above the conversation lol
Usual
BingChilling
i'm pretty sure still there
BingChilling
no every stable issuer , ethena, tron, xrp , makerdao
The Faceless Shepherd
between Circle, Tether and Usual?
BingChilling
stablecoin issuers which one u trust more
The Faceless Shepherd
trust is relative though, depends on what you are comparing to
BingChilling
i seen worst and still there as long as you civil and objective
famousfxck
90% of revenue to holders, 10% for team with heavy vesting over the years
BingChilling
u trust tether and circle lol
famousfxck
Revenue sharing in just 1 month after launch
I would say in terms of backing, if everything works as intended, then yes USD0 is probably less likely to depeg than most of the new stablecoinsfamousfxck
Also the most fairness? Better tokenomics?
The Faceless Shepherd
what do you want me to say
famousfxck
Okay then you give a comparison?
So letโs agree on something here, in terms of tokenomics and fairness, trustworthy of stability, isnโt Usual better than most new stablecoins?The Faceless Shepherd
I would say in terms of backing, if everything works as intended, then yes USD0 is probably less likely to depeg than most of the new stablecoins
famousfxck
Usual has to do a 7X in order to have the same FDV as Ethena
tony_defi
Buy more
not 100%, but given their track record I trust them more than much younger teamsfamousfxck
USD0 has done the same volume as USDe the past 24h.
The Faceless Shepherd
its all relative
backing mechanism is systematic risk, centralization is counter party risk, some projects have more systematic risk, some have more counter party riskfamousfxck
So letโs agree on something here, in terms of tokenomics and fairness, trustworthy of stability, isnโt Usual better than most new stablecoins?
The Faceless Shepherd
not 100%, but given their track record I trust them more than much younger teams
BingChilling
do you trust tether and circle ?
The Faceless Shepherd
I dont have much experience with front end ๐ฆ
backing mechanism is systematic risk, centralization is counter party risk, some projects have more systematic risk, some have more counter party risk
Whhiskyy
nominal : nominal (pv??)
1 (0.87??) : 1
Yes stay away from the project which stablecoin is backed 1:1 by T-bills and is among one of the safest in the spaceThe Faceless Shepherd
I'm just saying that centralized projects require trust in the team
The problem for most people (including myself) is, that we knew that governance can change the floor, but if we look into the smart contract, we should have seen that the function that changes the floor does not have sufficient timelock, so I'll just take the L here.
The lesson learnt is that in the future, we should all stay away from projects that implement either zero day upgradable proxies, or impactful zero day governance functionskiratsunami
trying to add UI to it
This is turning problem, I don't get my revenue rewards, and yesterday example my stake usual was 715 today it show 704 how it can be possible? Number is sampleBingChilling
you can check in debank.com/profile/
you can see your usual accumulateHi I coded yesterday a small app on JS to retrive hom much UsualX and Usual I have
but when adding Angular to it, I wanted to converrt the code to TS, but it doesn't work
Do you work with web3.js or rather viem ?The Faceless Shepherd
web3.js but I dont use ts
This is turning problem, I don't get my revenue rewards, and yesterday example my stake usual was 715 today it show 704 how it can be possible? Number is sampleMava (AI Support)
It seems like you are experiencing an issue with your staking rewards and noticing a decrease in your staked amount. This could be due to the unstaking fee or the way the rewards are calculated. Please check if there is an unstaking fee applied or if there are any deductions for rewards distribution. If the issue persists, I recommend reaching out to support for further assistance.
Mava AI BetaZirDeli
This is turning problem, I don't get my revenue rewards, and yesterday example my stake usual was 715 today it show 704 how it can be possible? Number is sample
There are two things that could significantly change how smart contracts work:
One is proxies, this gives the admin the ability to change execution code of the smart contract directly, on block explorers, for example, on ether scan contract tab, if you see buttons like "Read as Proxy" or "Write as Proxy", then it means that the contract is upgradable. The next step would be to find the admin, this requires a little bit of coding, basically you have to call the RPC function eth_getStorageAt, with the first argument being the contract address, the second address being storage slot b53127684a568b3173ae13b9f8a6016e243e63b6e8ee1178d6a717850b5d6103 (ERC1967 standard), then it will return the admin address. Chech that address on etherscan:
1, If its an EOA or multisig, then it means that the team has full upgrade authority and they can upgrade anytime
2, If its a governmence contract, you can check if it has voting process, then look for if there is a timelock for each proposal, if it has an owner, check if the owner is a timelock contract, if it is, check the minimum timelock
The second is through admin function, to change certain parameters, such as the floor price in this case, then you have to really look into the code of that function, to see if there are vote required, or there is a timelock.kiratsunami
Hi I coded yesterday a small app on JS to retrive hom much UsualX and Usual I have but when adding Angular to it, I wanted to converrt the code to TS, but it doesn't work Do you work with web3.js or rather viem ?
Dave.race
It was informative at least. Thank you ๐
BingChilling
u don't get my point lol nevermind
The Faceless Shepherd
anyway, I dont even know why I am even explaining this
The Faceless Shepherd
You can actually check whether it can be changed or not
BingChilling
code can be change and be fork.
you in crypto space trust every protocol ?
i don't trust any protocol even i used it like pendle i don't even trust metamask lolThe Faceless Shepherd
I place different trust assumptions based on the code
BingChilling
you in crypto space trust every protocol ? i don't trust any protocol even i used it like pendle i don't even trust metamask lol
you are not gonna far with that mindset.
never trust anybody assume the worst and ready to lost when you lock your money.
then you will be safeThe Faceless Shepherd
not sure what "going far" means, but I'm content with my current pace, thanks
There are two things that could significantly change how smart contracts work:
One is proxies, this gives the admin the ability to change execution code of the smart contract directly, on block explorers, for example, on ether scan contract tab, if you see buttons like "Read as Proxy" or "Write as Proxy", then it means that the contract is upgradable. The next step would be to find the admin, this requires a little bit of coding, basically you have to call the RPC function eth_getStorageAt, with the first argument being the contract address, the second address being storage slot b53127684a568b3173ae13b9f8a6016e243e63b6e8ee1178d6a717850b5d6103 (ERC1967 standard), then it will return the admin address. Chech that address on etherscan:
1, If its an EOA or multisig, then it means that the team has full upgrade authority and they can upgrade anytime
2, If its a governmence contract, you can check if it has voting process, then look for if there is a timelock for each proposal, if it has an owner, check if the owner is a timelock contract, if it is, check the minimum timelock
The second is through admin function, to change certain parameters, such as the floor price in this case, then you have to really look into the code of that function, to see if there are vote required, or there is a timelock.Usual
The Faceless Shepherd
There are two things that could significantly change how smart contracts work: One is proxies, this gives the admin the ability to change execution code of the smart contract directly, on block explorers, for example, on ether scan contract tab, if you see buttons like "Read as Proxy" or "Write as Proxy", then it means that the contract is upgradable. The next step would be to find the admin, this requires a little bit of coding, basically you have to call the RPC function eth_getStorageAt, with the first argument being the contract address, the second address being storage slot b53127684a568b3173ae13b9f8a6016e243e63b6e8ee1178d6a717850b5d6103 (ERC1967 standard), then it will return the admin address. Chech that address on etherscan: 1, If its an EOA or multisig, then it means that the team has full upgrade authority and they can upgrade anytime 2, If its a governmence contract, you can check if it has voting process, then look for if there is a timelock for each proposal, if it has an owner, check if the owner is a timelock contract, if it is, check the minimum timelock The second is through admin function, to change certain parameters, such as the floor price in this case, then you have to really look into the code of that function, to see if there are vote required, or there is a timelock.
If smart contract is immutable then trust is not required, but unfortunately now the abuse of proxies and admin functions make all projects pretty centralized and have a ton of trust assumptionsBingChilling
you are not gonna far with that mindset. never trust anybody assume the worst and ready to lost when you lock your money. then you will be safe
Klinta
dfutureiscrypto๐ฅท
Is this information up to date?
Klinta
No your are just irrelevant to the subject, so you should probably leave ๐๐ผ
The problem for most people (including myself) is, that we knew that governance can change the floor, but if we look into the smart contract, we should have seen that the function that changes the floor does not have sufficient timelock, so I'll just take the L here.
The lesson learnt is that in the future, we should all stay away from projects that implement either zero day upgradable proxies, or impactful zero day governance functionsdfutureiscrypto๐ฅท
Could you tell is how to see that, please?
first place
You mad bro?
Mava (AI Support)
You can read about USUAL and USUALx on the Usual Money blog. Here's a link to an article that introduces USUALx and its game theory: Introduction to USUALx and its Game Theory. Reference: 1
Mava AI BetaKlinta
Lol, here to discuss crypto or selling spelling course? Gtfo
dfutureiscrypto๐ฅท
Hi! Where can I read all about USUAL and USUALx? Thanks!
If smart contract is immutable then trust is not required, but unfortunately now the abuse of proxies and admin functions make all projects pretty centralized and have a ton of trust assumptionsUsual
is not about the fundamental it's about the trust never trust anybody in crypto.
expect the worseThe Faceless Shepherd
If smart contract is immutable then trust is not required, but unfortunately now the abuse of proxies and admin functions make all projects pretty centralized and have a ton of trust assumptions
first place
*worst
BingChilling
is not about the fundamental it's about the trust never trust anybody in crypto. expect the worse
i thoughy u know luna/ust problem ? you learn nothing ?
expect every stablecoin can go to zero and include btc can go to zeroThe Faceless Shepherd
Usual is fundamentally different from Luna
The problem for most people (including myself) is, that we knew that governance can change the floor, but if we look into the smart contract, we should have seen that the function that changes the floor does not have sufficient timelock, so I'll just take the L here.
The lesson learnt is that in the future, we should all stay away from projects that implement either zero day upgradable proxies, or impactful zero day governance functionsBingChilling
i thoughy u know luna/ust problem ? you learn nothing ? expect every stablecoin can go to zero and include btc can go to zero
The problem for most people (including myself) is, that we knew that governance can change the floor, but if we look into the smart contract, we should have seen that the function that changes the floor does not have sufficient timelock, so I'll just take the L here.
The lesson learnt is that in the future, we should all stay away from projects that implement either zero day upgradable proxies, or impactful zero day governance functions
The Faceless Shepherd
The problem for most people (including myself) is, that we knew that governance can change the floor, but if we look into the smart contract, we should have seen that the function that changes the floor does not have sufficient timelock, so I'll just take the L here. The lesson learnt is that in the future, we should all stay away from projects that implement either zero day upgradable proxies, or impactful zero day governance functions
famousfxck
# ๐ใofficial-links # โใfaq
Mava (AI Support)
You can read about USUAL and USUALx on the Usual Money blog. Here's a link to an article that introduces USUALx and its game theory: Introduction to USUALx and its Game Theory. Reference: 1
Mava AI Betadfutureiscrypto๐ฅท
Hi! Where can I read all about USUAL and USUALx? Thanks!
BingChilling
i know people who trade furtures or not. you are not that guy. long side of usual is profitable you get huge APY holding long. ๐
famousfxck
Atleast pick All Might or a cooler character fr
Dude has a MHA profile picture โ ๏ธโ ๏ธโ ๏ธ
BingChilling
u cant trade lol. if you can trade R:R u short AIXBT or fartcoin make no sense
famousfxck
Lmfao bro sold a coin backed by 1$ stablecoin with loss ๐ญ๐ญ๐ญ๐ญ๐ญ๐ญ๐ญ๐ญ massive L
BingChilling
lol don't lie you shorting bottom coin lmao. omegalul funding rate negative -200% apy stop lying dude
famousfxck
Buddy if that happens all USD0++ stakers are rekt ๐๐๐๐ bro still doesnโt understand how it works lmfao
What do you think happens with USUALx revenue when all USD0++ holders unstake? USUALx gets rekt.
People just want to take take, with no risk. And expect to give nothing back
Problem with most people, they donโt understand the future of Usual. USD0++ helps USUALx, USUALx helps USD0++. USUAL is staked for USUALx, this creates better price for USUAL. So higher revenue for USD0++ holders. USD0 is staked for USD0++, this locks up revenue for USUALx. So more revenue for USUALx holders.
BingChilling
i read different it didn't say that
BingChilling
no this was editted i don't read this
The Faceless Shepherd
nah this was not what I was talking about, and this doesn't mean anything, it says the usual team can perform arbitrage to enforce 1:1, but it doesn't say the team is obligated to do that
If you have only staked for 1 second, then you pay for 1 second, thats what I understood, but apparently I was wrongBingChilling
you believe that? i don't lmao
so you make protocol that lock liquidity
and i can unlock anytime 1:1 if i pay 1second acuumulated apy ? sounds good deal ?The Faceless Shepherd
If you have only staked for 1 second, then you pay for 1 second, thats what I understood, but apparently I was wrong
Bro itโs literally cheaper to pay 6 months fee now because APY is so low. If youโd need to pay the PAST 6 months fee, youโd pay a crazy amount lmao. APY was at 30-45%+ during those times ๐๐๐The Faceless Shepherd
My understanding after reading that was that if I have only staked 1 week, the maximum I pay is one weeks reward, but maybe its because I suck at english
I managed to find this, (its not the original tweet that I saw though, the original had the new and old side by side)BingChilling
so you make protocol that lock liquidity and i can unlock anytime 1:1 if i pay 1second acuumulated apy ? sounds good deal ?
I managed to find this, (its not the original tweet that I saw though, the original had the new and old side by side)Dave.race
From where is that?
I managed to find this, (its not the original tweet that I saw though, the original had the new and old side by side)Do you have the old doc or you just remember from the tip of your head? I would be interested in reading how it was phrased.Do you have the old doc or you just remember from the tip of your head? I would be interested in reading how it was phrased.your money not in usual your money locked 4 year in bond
are you not understand ??
i read the old doc it said "ensure" that's why it state there
now new version it removed because it not relevant anymoreDave.race
Do you have the old doc or you just remember from the tip of your head? I would be interested in reading how it was phrased.
CongQ
What old docs, the WP havenโt been updated since Nov 2024, if you say its been shadow changed please provide proof otherwise its literally defamation, I have the โoldโ docs downloaded on my PC from last year, if you wanna sue them for fraud I can provide it to you, its literally the same WP
BingChilling
your money not in usual your money locked 4 year in bond are you not understand ?? i read the old doc it said "ensure" that's why it state there now new version it removed because it not relevant anymore
Dave.race
Show me the old docs and I will reconsider it. But I've never ever seen anything else than the between 0 and 6 months.
CongQ
Like US Bonds canโt be redeemed directly early before maturity, did US Treasury trapped u?
CongQ
Nobody trapped you, you bought a financial product before understanding what it is, simple as that
I saw someone using time machine to campare the old and new version. I'm trying really hard right now to find that tweetBingChilling
your opinion literally from twitter collective hive mind. bro you are the matrix
CongQ
Source: trust me bro
I saw someone using time machine to campare the old and new version. I'm trying really hard right now to find that tweetBingChilling
i know what you are trying to say. it say "ensure peg 1:1" and if it's not DAO can vote to peg it in future. that's the reason it state there because "ensure" is not "abosolute peg 1:1" it will depeg to .87 based on fed rate. that's why i don't do YT i don't do loop. because i'm not illiterate
I saw someone using time machine to campare the old and new version. I'm trying really hard right now to find that tweetDave.race
Thank you. I understand it's not necessarily easy. If you manage to get the hand on the doc, I would really be interested in reading it.
The Faceless Shepherd
I saw someone using time machine to campare the old and new version. I'm trying really hard right now to find that tweet
Buying a 4 year term bonds and asking why I canโt fully exit after 2 weeks,with the USUAL generated in pocketBingChilling
exactly lol
Buying a 4 year term bonds and asking why I canโt fully exit after 2 weeks,with the USUAL generated in pocketMava (AI Support)
USD0++ is designed as a 4-year bond, and early exit is not typically allowed without certain conditions. The protocol has mechanisms like the Early Redemption Mechanism, which requires sacrificing a number of USUAL tokens if you want to exit early at a 1:1 guaranteed rate. This is to ensure long-term commitment and stability within the ecosystem.
Mava AI BetaCongQ
Buying a 4 year term bonds and asking why I canโt fully exit after 2 weeks,with the USUAL generated in pocket
well who wouldn't have thought long term hold = 2 weeks
bro you buying 4 year lock.
atleast held 1/8 held fee looks fair to meCongQ
Literally crypto bros mindset
Dave.race
Where is that doc?
Sometimes investments go wrong or don't follow the studied thesis, but that's part of the game, that's how the crypto world works, you don't have to cry so much when you lose.
NovatioLegis
Perfect! People don't just want to invest, they want quick and easy money. And the market isn't like that anywhere, at least without HUGE risk.
I guess one of the main reason is that the old doc states that the early redemption only required you to give up a portion of USUAL rewards that you have already accumulated, so you wouldn't loose money on your principle for early redemption, only give up the reward, but now the redemption is asking for 6 months of reward given current rate, which far exceeds the amount of what you have already accumulatedAper
true
I guess one of the main reason is that the old doc states that the early redemption only required you to give up a portion of USUAL rewards that you have already accumulated, so you wouldn't loose money on your principle for early redemption, only give up the reward, but now the redemption is asking for 6 months of reward given current rate, which far exceeds the amount of what you have already accumulatedBingChilling
well who wouldn't have thought long term hold = 2 weeks bro you buying 4 year lock. atleast held 1/8 held fee looks fair to me
Mava (AI Support)
The Early Redemption fee for USD0++ changes based on weekly outflows and other parameters. If you are the first to redeem, the fee is minimal, but it increases as more USD0++ is redeemed up to the weekly limit.
Mava AI BetaAper
how and when the rate of USD0++ early redemption change?
that was an old version of the doc, now it has been changed, let me see if I can find it for youDave.race
Thank you, I'd be interested, because I've only ever seen the between 0 and 6 months thing (as stated in the White Paper that was updated in November)
I guess one of the main reason is that the old doc states that the early redemption only required you to give up a portion of USUAL rewards that you have already accumulated, so you wouldn't loose money on your principle for early redemption, only give up the reward, but now the redemption is asking for 6 months of reward given current rate, which far exceeds the amount of what you have already accumulatedDave.race
What doc are you talking about? I've never seen such things
I don't understand how people don't study the projects well before investing in them, there are wallpapers for that, if you are so worried why did you decide to invest here, if you already knew the short term exit consequences? It is incomprehensibleThe Faceless Shepherd
I guess one of the main reason is that the old doc states that the early redemption only required you to give up a portion of USUAL rewards that you have already accumulated, so you wouldn't loose money on your principle for early redemption, only give up the reward, but now the redemption is asking for 6 months of reward given current rate, which far exceeds the amount of what you have already accumulated
They lack patience and knowledge, and they are full of dreams about becoming rich overnight. Trump and Elon Musk have a duty to help them become millionaires.Usual
I don't understand how people don't study the projects well before investing in them, there are wallpapers for that, if you are so worried why did you decide to invest here, if you already knew the short term exit consequences? It is incomprehensibleLN123321
They lack patience and knowledge, and they are full of dreams about becoming rich overnight. Trump and Elon Musk have a duty to help them become millionaires.
FlAmEnInJa
TVL is decreasing day by day
There are thousands of options in the market, why did you decide to invest here? That's what you have to ask yourselves, and if you have failed, learn, that's what it's all about, not cry.Usual
joaan17
There are thousands of options in the market, why did you decide to invest here? That's what you have to ask yourselves, and if you have failed, learn, that's what it's all about, not cry.
Sometimes investments go wrong or don't follow the studied thesis, but that's part of the game, that's how the crypto world works, you don't have to cry so much when you lose.
I don't understand how people don't study the projects well before investing in them, there are wallpapers for that, if you are so worried why did you decide to invest here, if you already knew the short term exit consequences? It is incomprehensible
Zezzy
It could be Liquidity deep, fee, slippage that affects your displayed rewards