Binance Labs has announced an investment in a $10 million Series A USUAL funding round. Following this revelation, the price of the USUAL token soared by more than 20%. Another major company that participated in the funding round is Kraken.
The USUAL token, the governance currency of the innovative Usual protocol, experienced an astonishing 20% price spike following the revelation of a strategic investment by Binance Labs.
According to data from CoinMarketCap, the value of the token rose from $1.05 to $1.26, pushing its market cap to more than $592 million in just over a month since the protocol's launch. Trading volume in the past 24 hours exceeded $644 million, highlighting the growing market interest in the project.
Binance Labs invests $10 million in USUAL’s Series A funding round
Binance Labs did not disclose the exact amount of its investment in USUAL in its announcement, but the investment is part of a $10 million Series A funding round co-led by Kraken Ventures and other notable investors. be.
This funding will accelerate Usual's mission to innovate the stablecoin space and expand adoption of DeFi solutions.
Pierre Persson, CEO of Usual Labs, said of the partnership that this investment aligns with their vision to make the stablecoin market more community-centric and technologically advanced. He expressed an optimistic outlook.
Alex Odagiu, Investment Director at Binance Labs, praised Usual's unique approach and highlighted its potential to set new benchmarks for inclusivity and empowerment in the cryptocurrency space. “Stablecoins are an important gateway into the ecosystem, and Usual’s model pushes the boundaries of what stablecoins can achieve,” he said.
As part of Binance Launchpool's 61st project, USUAL tokens will be available to users who stake BNB or FDUSD, bringing the reward pool to 300 million tokens. This initiative reflects Usual's commitment to driving user engagement and solidifying its position as a transformative force in decentralized finance.
Why investors are flocking to USUAL
Usual is redefining the stablecoin market with a community-first approach.
Unlike traditional issuers, the protocol is committed to redistributing value and ownership among its users, allocating 90% of $USUAL tokens to the community. This innovative model emphasizes decentralization and inclusivity, providing users with governance powers and a share of protocol revenues.
At the heart of the Usual protocol is the introduction of a new decentralized stablecoin backed by real-world assets (RWA) such as US Treasury bills. Stablecoin USD0 is designed to provide both security and liquidity, and seamlessly integrates into the decentralized finance (DeFi) ecosystem. Including RWA protects users from banking risks while promoting transparency and stability.
