Research corpus Credit and stable valueBLC-STUDY-0733

Usual: a stablecoin claim backed by treasury-style collateral, as the docs describe

Usual publishes a dollar token whose docs say the backing is short-dated sovereign collateral, with a separate governance token. The collateral type is the claim. The yield is not restated here.

Official external source only
Design paper
Official source

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Record

Authors: Usual
Date: 2024
Publisher: Usual
Version: Source cited by the 2024 study. The study is the reading. This page does not add a second essay.
Document ID: BLC-STUDY-0733
DOI: None recorded
Last reviewed: 1 October 2026
Licence: No licence recorded. Rights status under review.

No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.

Direct answer

Usual publishes a dollar token whose docs say the backing is short-dated sovereign collateral, with a separate governance token. The collateral type is the claim. The yield is not restated here.

Where to read

Official source — Usual documentation
Blockchain Lab study, the canonical readingOriginal commentary. Not a transcription of the paper.

Metadata and commentary only. The reading is the study page.

Full text

Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.

What changed

A reading of the project's public design document. Not a copy, not a benchmark, and not an offer.

Relationships

Canonical readingUsual protocol study
Related paperOndo
Related paperMaker
Related paperEthena Labs

Cite this record

These citations point at the source document. They are not a licence to copy it.

Author–date

Usual (2024). Usual: a stablecoin claim backed by treasury-style collateral, as the docs describe. Usual. https://docs.usual.money/

BibTeX

@techreport{usualprotocol2024,
  title = {Usual: a stablecoin claim backed by treasury-style collateral, as the docs describe},
  author = {Usual},
  year = {2024},
  institution = {Usual},
  url = {https://docs.usual.money/},
  note = {Rights status: Official external source only. Blockchain Lab record: https://blockchainlab.com/research/corpus/papers/usual-protocol}
}

RIS

TY  - RPRT
TI  - Usual: a stablecoin claim backed by treasury-style collateral, as the docs describe
AU  - Usual
PY  - 2024
PB  - Usual
UR  - https://docs.usual.money/
N1  - Rights status: Official external source only
ER  -

CSL-JSON

[
  {
    "type": "report",
    "id": "BLC-STUDY-0733",
    "title": "Usual: a stablecoin claim backed by treasury-style collateral, as the docs describe",
    "author": [
      {
        "literal": "Usual"
      }
    ],
    "issued": {
      "date-parts": [
        [
          2024
        ]
      ]
    },
    "publisher": "Usual",
    "URL": "https://docs.usual.money/",
    "note": "Rights status: Official external source only. Not a licence to republish the paper."
  }
]

JSON BibTeX file RIS file CSL-JSON

Rights record

Source status: Official source
Use status: Metadata and commentary only. The reading is the study page.
Rights: Official external source only
Training and retrieval: Not permitted from this site. There is no rights-cleared full text to retrieve or to train on.

Rights and licensing Corrections