{"id":599843,"date":"2024-11-18T09:28:54","date_gmt":"2024-11-18T09:28:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=599843"},"modified":"2024-11-18T09:28:54","modified_gmt":"2024-11-18T09:28:54","slug":"binance-set-to-launch-usual-stablecoin-on-nov-19","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/binance-set-to-launch-usual-stablecoin-on-nov-19","title":{"rendered":"Binance Set to Launch USUAL Stablecoin on Nov. 19"},"content":{"rendered":"

Binance, one of the leading crypto exchanges<\/a>, will introduce the stablecoin USUAL on Nov. 19. Trading support for USDT and USUAL pairs will be provided on the platform. On Nov. 14, Binance released a notice highlighting the launch of its 61st project through Binance Launchpool. This initiative marks the debut of USUAL as a stablecoin. The Usual webpage is anticipated to become accessible approximately 12 hours prior to its pre-market release on Nov. 19 at 10:00 UTC.<\/p>\n

Binance to Debut New Stablecoin Project Backed by Prominent Partners<\/h2>\n

Usual Labs<\/a>, the decentralized issuer behind USUAL, is backed by numerous partners and supporters, including Kraken, Mantle, Starkware, GSR, and over 150 other investors. The initial token launch is planned for the Ethereum network. Users engaging with the launch will have an opportunity to receive airdrops of USUAL tokens. These rewards will be distributed in BNB (BNB) and FDUSD (FDUSD) and are scheduled to take place within four days, with farming for USUAL tokens commencing on Nov. 15 at 00:00 UTC.<\/p>\n

In a statement shared on its X account, Usual noted that its stablecoin model prioritizes community engagement, relying on a revenue-based structure. According to CoinMarketCap data<\/a>, USUAL’s trading price experienced a 0.08% increase, bringing it to $0.9991. The stablecoin has a total market cap of $345.71 million, with a supply of 346 million tokens in circulation.<\/p>\n

Binance has allotted a total token supply of 4 billion USUAL tokens. Of this supply, 7.5% is designated for user rewards. Upon listing, the circulating supply will account for 12.37% of the total, equating to 494,600,000 USUAL tokens. The stablecoin will initially be available for trading through USUAL\/USDT pairs. Pre-market trading is currently available<\/a>, with further details regarding pre-market closing and spot listing times to be announced by the exchange in the future.<\/p>\n

In recent developments, Usual Labs completed a community funding round, successfully raising $1.5 million. The funding participants included The Echonomist, Breed Syndicate, and Comfy Capital.<\/p>\n

The Usual stablecoin ecosystem, launched under the name USD0 in February 2024, operates as a permissionless stablecoin backed by real-world assets. In addition to its stablecoin function, it serves as a governance token, enabling users to participate in decision-making processes related to the network’s future direction.<\/p>\n

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Introducing $USUAL<\/a> on #Binance<\/a> Launchpool and Pre-Market!<\/p>\n

Read more 👉 https:\/\/t.co\/Iwkn2lnYxU<\/a> pic.twitter.com\/QeD8XXbafH<\/a><\/p>\n

— Binance (@binance) November 14, 2024<\/a><\/p><\/blockquote>\n