Profile
USD0 profile facts
Usual USD (USD0) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar.
- 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 governance-set redemption fee (redeemFee() was 5 bps at Ethereum block 26114898 on 2026-10-03); arbitrageurs enforce the peg
- Jurisdiction
- France
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
USD0 quick answers
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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?
As of Oct 24, 2026, Pharos grades USD0 C+ (61/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and any holder can use its reviewed redemption route. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs USD0?
Pharos records USD0's reserves as of Jul 14, 2026 as 100% Hashnote USYC. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can USD0 be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem USD0?
Under the route Pharos reviewed on Mar 23, 2026, any holder can redeem USD0 for USYC, M, and USTBL. Redemption settles atomically on-chain. The reviewed redemption fee is 0.05%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
