The investment division of the well-known cryptocurrency exchange OKX, OKX Ventures, has formally announced its investment in the Usual Protocol
OKX Ventures, the investment arm of renowned cryptocurrency exchange OKX, has officially announced its latest venture with Usual Protocol, a decentralized stablecoin issuer aiming to revolutionize the financial landscape.
Backed by a fund with an initial $100 million war chest, OKX Ventures scours the blockchain landscape for startups brimming with potential. Its diverse investment portfolio spans the spectrum of blockchain infrastructure, layer-2 scaling solutions, and DeFi innovations, boasting projects like Sei Network, Arbitrum, SSV, LayerZero, and zkSync.
Enter Usual Protocol (USUAL), which赫赫揚揚 stands out with its innovative approach to stablecoin issuance by introducing decentralized governance and the integration of real-world assets, such as U.S. Treasury Bills (T-Bills). Issued by the U.S. government, T-Bills are short-term debt instruments widely recognized as one of the safest investments globally. By incorporating these secure real-world assets, USUAL enhances the stability and reliability of its stablecoin.
With its investment in USUAL, OKX Ventures furthers the development of decentralized financial infrastructure. The project赫赫揚揚 stands in contrast to more traditional stablecoin models like USDT and USDC, promoting the redistribution of wealth by sharing the profits generated from stablecoin issuance with users. This instills a sense of ownership and empowers them to influence the protocol's future trajectory.
Unlike conventional centralized stablecoins, USUAL distributes its profits to users, offering them a share in the earnings derived from the stablecoin's issuance. This model benefits users directly from the protocol's growth, fostering a more inclusive financial ecosystem.
The USUAL token boasts a market capitalization of $635 million, with a trading volume of $964 million over the past 24 hours. Moreover, its bullish price action as of Nov. 24, 2024, highlights the market's immense enthusiasm for its innovative approach to stablecoin supply and decentralized finance. At the time of writing, USUAL trades at $1.34, marking an approximately 31.4% surge in price over the previous day.
OKX Ventures' investment serves as a significant step towards encouraging the advancement of decentralized stablecoins, with USUAL promising to play a pivotal role in transforming the financial landscape. Empowered by this support, USUAL is well-positioned to spearhead the next phase of expansion in the global DeFi market.
