Usual USD (USD0) stablecoin analytics
Answer First
What is Usual USD (USD0)?
USD0 is Usual's RWA-backed dollar, collateralized by tokenized U.S. T-bills and cash-equivalent products such as USYC, M by M0, USDtb by Ethena, and USDC. The static profile records its US Dollar peg mechanism as: 1:1 minting by depositing approved RWA tokens (e.g.
Is USD0 safe?
USD0 holds a C Safety Score grade (58/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Usual USD uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Usual USD (USD0) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Sep 7, 2026
USD0 is Usual's RWA-backed dollar. The approved collateral list spans Hashnote USYC, M0's M, and Ethena's USDtb, the latter two held through Usual's own wrapper contracts, with USDC as the deposit gateway, but the last fixed on-chain capture resolved the entire book to USYC, a tokenised share of a Treasury-bill and reverse-repo fund custodied at BNY Mellon through Marex.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
Sources: Usual USD0 flow and architecture
- Collateral
- Issuer documentation identifies USYC, M by M0 and Spiko USTBL as eligible direct RWA collateral and USDC as an indirect minting route; technical documentation also describes the UsualUSDtb wrapper. Eligibility and wrapper availability do not establish current holdings or allocation.
- Peg Mechanism
- 1:1 minting by depositing approved RWA tokens (e.g. USYC) directly, or depositing USDC via a gateway; direct redemption returns underlying RWA assets via DaoCollateral, with a documented 0.10% DAO Treasury redemption fee; arbitrageurs enforce the peg
- Jurisdiction
- France
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usd0-usual
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
USD0 quick answers
What is Usual USD (USD0)?
USD0 is Usual's RWA-backed dollar, collateralized by tokenized U.S. T-bills and cash-equivalent products such as USYC, M by M0, USDtb by Ethena, and USDC. The static profile records its US Dollar peg mechanism as: 1:1 minting by depositing approved RWA tokens (e.g.
Is USD0 safe?
USD0 holds a C Safety Score grade (58/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Usual USD uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs USD0?
Pharos classifies USD0 backing as Real-World Asset Backed. Collateral, per the static profile: Issuer documentation identifies USYC, M by M0 and Spiko USTBL as eligible direct RWA collateral and USDC as an indirect minting route; technical documentation also describes the UsualUSDtb wrapper. Reserve evidence: live reserve feed configured.
Can USD0 be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USD0, when applicable, appear in the dossier below.
