What If Tether Was Owned By Its Users? The Vision for Usual

Sep 20, 2024

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Pierre Person and Adli Takkal Bataille are the CoFounders of Usual.

In this episode, we review the grand vision behind Usual to rebuild Tether, but one that is fully owned and governed by its users onchain. Although Tether (USDT) and Circle (USDC) generated over $10B in revenue in 2023, none of this wealth is shared with the users who contribute to their success. Meanwhile, Usual sees the opportunity to reimagine Tether as a permissionless, decentralized stablecoin called USD0, along with a product for capturing T-Bill yield called USD0++. With $240M TVL in its first few months, we ask the CoFounders why they're the right team to build it and how we can get involved.

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Timestamps

0:00 - Intro
4:06 - Why we need Usual?
7:42 - What's missing with stablecoins?
10:20 - How Usual works
14:39 - Collateral, USD0, and the USD0 Liquid Bond
18:04 - An aggregator for US T-Bill yield
21:27 - How to mint USD0
24:06 - Does Usual Counter route to best rates for USD0?
25:57 - How USD0 maintains its dollar peg
30:00 - USD0 Liquid Bond (Enhanced T-Bill Yield)
35:58 - FBTC mid-roll
36:39 - Yields available for USD0 or USD0++
42:45 - Pre-launch Phase, airdrop, and what's next?
46:31 - Moonbeam mid-roll
47:16 - What happens to Usual if we go back to low T-bill yields?
54:34 - Is Usual working with regulators?
58:36 - Closing

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🔗 Guest Links 🔗

► Usual Website: https://usual.money/
► Usual on Twitter: https://x.com/usualmoney
► Pierre Person on Twitter: https://x.com/Pierr_Person
► Adli Takkal Bataille on Twitter: https://x.com/AdliTB

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If you're a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/

All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. 4RC invested in the seed round for Usual. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.