Stablecoins depeg before 2027?
$298.6K Vol.Closes Jan 1, 2027
USD0$837.4 Vol.26%
DAI$3.4K Vol.9%
USD1$15.8K Vol.9%
USDTb$676.6 Vol.7%
USDE$8.5K Vol.6%
USDS$680.8 Vol.6%
GHO$1.5K Vol.6%
PYUSD$600.2 Vol.5%
USDC$266.6K Vol.1%
USD0 (Usual USD) is a real-world asset (RWA) backed stablecoin that recently faced stability risks when its staked yield variant USD0++ lost its 1:1 redemption parity in early 2025.
The protocol is managed by Usual Money and its DAO, with USD0 collateralized by sovereign debt instruments to avoid reliance on commercial bank deposits.
medium.comThe depeg was triggered by governance changes to early redemption rules that imposed an $0.87 floor, sparking user panic and massive liquidations on platforms like Curve and Pendle.
onesafe.iogate.comA sustained depeg of USD0 would erode confidence in RWA-backed stablecoins and expose holders to significant financial losses if the backing mechanism fails to restore parity.
chain.linkkryptonim.comNote: The 2025 USD0++ depeg involved the yield-bearing variant, not USD0 itself, though the event highlighted systemic governance risks within the Usual protocol.
Usual announced changes to USD0++ redemption rules, replacing the 1:1 exchange rate with a floor price of $0.87, causing USD0++ to briefly depeg to nearly $0.90.
onesafe.iogate.comFollowing the depeg, USD0++ hovered around $0.90 while the protocol's governance token USUAL declined 18.7% in value within 24 hours due to panic sell-offs and liquidity shifts.
onesafe.ioThe new redemption mechanism for USD0++ officially took effect after Usual removed the 1:1 parity between USD0 and USD0++, accreting USD0++ price from $0.87 to $1 over four years.
chainargos.comAI-generated briefing. AI can make mistakes. This is not financial advice.
USD0 aims to mirror central bank money safety by using sovereign debt instruments as collateral, avoiding reliance on fragile commercial banking deposits.
medium.comThe protocol introduced a governance-controlled Parity Arbitrage Right (PAR) that allows the Usual DAO to prematurely unlock and redeem USD0++ for USD0 if market prices fall too far below fair value, acting as a depeg safeguard.
medium.comCommunity sentiment around USD0 is mixed but leaning constructive, with active engagement in high-yield staking mechanics and cross-chain growth viewed as core strengths.
coinmarketcap.comAI-generated briefing. AI can make mistakes. This is not financial advice.
USD0's staked variant USD0++ previously depegged to $0.90 after redemption rules were changed, demonstrating that governance decisions can directly trigger loss of parity.
onesafe.iogate.comThe shadows of regulatory challenges, including the Anchorage delisting, temper optimism and introduce uncertainty about the protocol's long-term viability.
coinmarketcap.comStablecoins generally face run risk, with research indicating a one-in-three probability of experiencing a major asset run over a ten-year timeframe, driven by reserve concerns or bank difficulties.
AI-generated briefing. AI can make mistakes. This is not financial advice.