Stablecoin dossierReturn to register

Record sog_st_usd0

USD0USD0

Also recorded as USD0, Usual USD0, Usual Stablecoin

Active

Lifecycle: Active
Issuance: Protocol-based
Reference target: US dollar
Primary organization: Usual DAO / UsualNo additional recorded relationship
Launch: 2024-07-09
Redemption: Protocol Redemption
Backing: Tokenized asset-backed
Stabilization: Issuer redemption
Last review: 2026-06-22
Evidence: 5 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

USD-pegged stablecoin of the Usual ecosystem, backed by short-duration tokenized real-world assets such as sovereign debt instruments and designed for 1:1 minting and redemption through supported collateral pathways.

Name	USD0
Symbol	USD0
Aliases	USD0, Usual USD0, Usual Stablecoin
Asset class	Stablecoin
Lifecycle status	Active
Issuance status	Protocol-based
Canonical record ID	`sog_st_usd0`
Route slug	`usd0`
Record confidence	High
Last reviewed	2026-06-22

Name: USD0
Symbol: USD0
Aliases: USD0, Usual USD0, Usual Stablecoin
Asset class: Stablecoin
Lifecycle status: Active
Issuance status: Protocol-based
Canonical record ID: sog_st_usd0
Route slug: usd0
Record confidence: High
Last reviewed: 2026-06-22

Record coverage

Section	Entries
Organizations	1
Sources	5
Reserve reports	1
Reserve components	3
Model-history events	0
Regulatory notes	0
Deployments	4
Issuer-control actions	0
Open questions	2
Events	1

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: DAO Governed
Primary display organization: Usual DAO / Usual
Primary display role: Protocol operator
Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 4 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 4 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 1 recorded relationship

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
Usual DAO / Usual	DAO or governance body	Protocol or decentralized system	Unknown or not publicly resolved	Protocol operator	Primary display	Not yet recorded	Not yet recorded	Active relationship

DAO or governance body

Usual DAO / Usual

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Unknown or not publicly resolved
From: Not recorded
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar
Reference kind: Fiat
Comparison category: US dollar
Target value: 1
Reference methodology: USD0 is designed for 1:1 minting and redemption against eligible short-duration tokenized sovereign assets or supported indirect collateral routes.
Public backing model: Tokenized asset-backed
Canonical backing types: Government Securities, Tokenized Fund, Stablecoin Collateral, Mixed
Reserve component categories: Government Securities, Tokenized Fund, Stablecoin Collateral
Primary stabilization mechanism: Issuer redemption
Recorded model description: Short Duration Tokenized Sovereign Assets
Redemption / exit model: Protocol Redemption
Valuation source: Usual RWA aggregator, collateral providers, and protocol accounting
Yield / rebase profile: No recorded change · Accrual: No recorded change
Classification notes: RWA-backed protocol stablecoin. Direct primary-market redemption and indirect USDC routing have different eligibility and minimum-size conditions.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Government securitiesGovernment Securities
Tokenized fund or RWA collateralTokenized Fund
Stablecoin collateralStablecoin Collateral

Reserve profile

Disclosure status	Protocol and Collateral Provider Disclosure
Backing types	Government Securities, Tokenized Fund, Stablecoin Collateral, Mixed
Summary	Usual documentation describes USD0 as fully collateralized by short-duration U.S. Treasury bills and equivalent sovereign instruments provided through tokenized-asset issuers, with an RWA aggregator and a dedicated insurance fund.
As of	2026-06-14
Profile confidence	High

Disclosure status: Protocol and Collateral Provider Disclosure
Backing types: Government Securities, Tokenized Fund, Stablecoin Collateral, Mixed
Summary: Usual documentation describes USD0 as fully collateralized by short-duration U.S. Treasury bills and equivalent sovereign instruments provided through tokenized-asset issuers, with an RWA aggregator and a dedicated insurance fund.
As of: 2026-06-14
Profile confidence: High

Redemption profile

Current status	Restricted
Settlement asset	Eligible tokenized Treasury assets through direct redemption or market/USDC routes through indirect liquidity
Eligible parties	Direct primary-market users must meet collateral-provider and compliance requirements. Smaller or non-eligible users generally rely on indirect protocol or secondary-market routes.
Retail access	Market or Indirect Protocol Based
Institutional access	Direct Primary Market Subject to Eligibility
Minimum amount	Official documentation identifies a 100,000 USD0 launch-phase direct-route minimum; current route-specific limits require ongoing verification.
Fee	Collateral-provider, swap, liquidity, bridge, and gas costs may apply.
Settlement time	Route-, collateral-provider-, protocol-, and network-dependent.
Regional limits	Direct collateral-provider access can require KYC/KYB or allowlisting., Eligibility varies by collateral provider and jurisdiction.

Current status: Restricted
Settlement asset: Eligible tokenized Treasury assets through direct redemption or market/USDC routes through indirect liquidity
Eligible parties: Direct primary-market users must meet collateral-provider and compliance requirements. Smaller or non-eligible users generally rely on indirect protocol or secondary-market routes.
Retail access: Market or Indirect Protocol Based
Institutional access: Direct Primary Market Subject to Eligibility
Minimum amount: Official documentation identifies a 100,000 USD0 launch-phase direct-route minimum; current route-specific limits require ongoing verification.
Fee: Collateral-provider, swap, liquidity, bridge, and gas costs may apply.
Settlement time: Route-, collateral-provider-, protocol-, and network-dependent.
Regional limits: Direct collateral-provider access can require KYC/KYB or allowlisting., Eligibility varies by collateral provider and jurisdiction.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
Not yet recorded	Usual	Protocol Rwa Collateral Disclosure	Government Securities, Tokenized Fund, Stablecoin Collateral	High

Usual

Not yet recorded

Type: Protocol Rwa Collateral Disclosure
Assets covered: Government Securities, Tokenized Fund, Stablecoin Collateral
Record confidence: High

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Notes
Ethereum	Specific network recorded	Not yet recorded	Canonical or native issuance	Canonical Issuance	Active	Active	No separate change state recorded	Native deployment	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x73A15FeD60Bf67631dC6cd7Bc5B6e8da8190aCF5	Not yet recorded	Not yet recorded	Primary USD0 deployment and core issuance environment.
Arbitrum	Specific network recorded	Not yet recorded	Cross-chain or bridged representation	Cross Chain Representation	Active	Active	No separate change state recorded	Canonical bridge representation	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x35f1C5cB7Fb977E669fD244C567Da99d8a3a6850	Not yet recorded	Not yet recorded	Official USD0 deployment listed by Usual. Issuance and collateral operations remain centered on the protocol's supported architecture rather than inferred from token presence alone.
Base	Specific network recorded	Not yet recorded	Cross-chain or bridged representation	Cross Chain Representation	Active	Active	No separate change state recorded	Canonical bridge representation	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x758a3e0b1F842C9306B783f8A4078C6C8C03a270	Not yet recorded	Not yet recorded	Official USD0 deployment listed by Usual.
BNB Chain	Specific network recorded	Not yet recorded	Cross-chain or bridged representation	Cross Chain Representation	Active	Active	No separate change state recorded	Canonical bridge representation	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x758a3e0b1f842c9306b783f8A4078C6C8C03a270	Not yet recorded	Not yet recorded	Official USD0 deployment listed by Usual.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

5 source identities · 5 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
USD0 stablecoin overview Published Not yet recorded	Usual	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Usd0 Product Identity and Rwa Stablecoin Design	No archive recorded	High
USD0 fact sheet Published 2026-02-16	Usual	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Usd0 Collateral Chains Contracts and Governance, Usd0 Contract Addresses	No archive recorded	High
USD0 mint and redeem architecture Published Not yet recorded	Usual	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Usd0 Direct and Indirect Mint Redemption Routes, Usd0 Primary Market Minimum	No archive recorded	High
USD0 RWA collateral Published Not yet recorded	Usual	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Usd0 Tokenized Rwa Collateral and Aggregator	No archive recorded	High
Launch of the Pills Campaign! Published 2024-07-09	Usual	Official statement or announcement Canonical: Official Blog	Subject-controlled source	Primary source	Launch Date, Public Mainnet, Usd0 Public Availability, Usd0 Public Mainnet Launch	Archive index or wildcard	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Day Level Launch Date	Official materials establish USD0's 2024 launch and growth phase but a single durable day-level canonical launch date has not yet been fixed.	Unknown after review	Medium	2026-06-14
Legal Issuer and Collateral Provider Roles	The current legal issuer, DAO, collateral-provider, custodian, insurance-fund, and service-provider relationships have not yet been separated into a complete organization-role map.	Unknown after review	High	2026-06-14

Day Level Launch Date

Official materials establish USD0's 2024 launch and growth phase but a single durable day-level canonical launch date has not yet been fixed.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-14

Legal Issuer and Collateral Provider Roles

The current legal issuer, DAO, collateral-provider, custodian, insurance-fund, and service-provider relationships have not yet been separated into a complete organization-role map.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-14

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

No separate model-change event is currently recorded.

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2024-07-09	Usual introduces the RWA-backed USD0 stablecoin	Launch and introduction	Launch	Remained active	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.