OKX Ventures officially announces investment in USUAL
OKX Ventures invests in USUAL, a cutting-edge decentralized stablecoin backed by real-world assets.
The investment division of the well-known cryptocurrency exchange OKX, OKX Ventures, has formally announced its investment in the Usual Protocol, a decentralized stablecoin issuer that seeks to transform the financial landscape.
The goal of OKX Ventures, a fund with a $100 million initial investment, is to identify blockchain startups with significant potential. Its investment portfolio includes a wide variety of projects in the fields of blockchain infrastructure, layer-2 scaling solutions, and DeFi breakthroughs, some of which are Sei Network, Arbitrum, SSV, LayerZero, and zkSync.
By utilizing decentralized governance and incorporating real-world assets, like US Treasury Bills (T-Bills), Usual Protocol (USUAL) distinguishes itself with its creative approach to stablecoin issuance. Because of the U.S. government’s support, U.S. Treasury Bills, which are short-term debt instruments issued by the government, are regarded as one of the safest investments in the world. The safety and dependability of USUAL’s stablecoin are improved by the addition of these safe real-world assets.
OKX Ventures is promoting the growth of decentralized financial infrastructure by funding USUAL. In contrast to more conventional stablecoin models like USDT and USDC, the project’s unique approach encourages wealth redistribution by sharing earnings from stablecoin issuance with users. This gives users a sense of ownership and gives them the authority to shape the protocol’s future.
In contrast to conventional centralized stablecoins, USUAL distributes its earnings to users, giving them a cut of the gains made from the stablecoin’s issuance. The expansion of the protocol immediately benefits users in this model’s more inclusive financial environment.
The USUAL token has a market cap of $635 million, with a trading volume of $964 million in the past 24 hours. Also, its bullish price behavior as of Nov. 24, 2024, demonstrates the market’s tremendous faith in its creative approach to stablecoin supply and decentralized finance. At the time of writing, USUAL is trading at $1.34, which is around a 31.4% increase in price from the previous day.
The investment by OKX Ventures is a big step in the direction of encouraging the development of decentralized stablecoins, and USUAL is expected to be crucial in changing the financial scene. With this support, USUAL is in a strong position to spearhead the next stage of expansion in the global DeFi market.
