USD0: Not Just Another Stablecoin — Interview with Usual Labs’ CEO Pierre Person

Led by CEO & Co-Founder Pierre Person, Usual Labs is revolutionizing finance by bridging the gap between traditional and crypto finance. With a significant $7 million in funding and $75 million in Total Value Locked (TVL), the company’s groundbreaking protocol is gaining momentum, reflecting the industry’s growing confidence in its vision.

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At the core of Usual Labs’ mission is the creation of the USD0 stablecoin, backed by Real-World Assets, offering users a transparent and equitable alternative to existing stablecoins. With a diverse group of investors, including heavyweights like IOSG Ventures and Kraken Ventures, Usual Labs is poised to become a driving force in the DeFi space.

The team’s unwavering commitment to transparency, security, and community ownership sets Usual Labs apart, positioning it as a catalyst for change in the burgeoning world of hybrid finance.

As Usual Labs prepares for the pre-launch of the USD0 stablecoin on the Ethereum mainnet in Q2 2024, the company remains focused on delivering a protocol that empowers users and reshapes the financial landscape for the better. Dive deep into the details of the project with our exclusive interview with CEO & Co-Founder Pierre Person, Usual Labs, as he shares insights into the vision, goals, and impact of this groundbreaking initiative.

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What inspired the founding team of Usual Labs to bridge the gap between traditional and decentralized finance through the creation of the USDO stablecoin?

The genesis of Usual Labs lies in our conviction that true financial democratization hinges on seamlessly bridging traditional finance (TradFi) and decentralized finance (DeFi). Traditional fiat-backed stablecoins first allowed conventional financial players to venture into crypto.

However, they often replicate the opacity and profit-centric models of traditional banks. At Usual Labs, we’re changing that.
“We aim to introduce a new standard of transparency and equity with USDO, ensuring profits are shared, not privatized, fostering trust and wider adoption.”

Pierre Person, CEO & Co-Founder of Usual Labs
How does Usual Labs plan to utilize the $7M raised in its recent strategic funding round to further develop its innovative protocol?

The $7 million raised will primarily fund the completion of our protocol, slated for launch at the end of June. The lion’s share of this capital is earmarked for bolstering the security of the system, ensuring that our users’ investments are protected under the highest standards.

Could you elaborate on the significance of the $75M committed in Total Value Locked (TVL) for Usual Labs and its impact on the future of the project?

Securing $75M in TVL early on is pivotal—it demonstrates market confidence and adoption of USDO. This commitment from heavyweight industry players underscores Usual’s potential as a staple in the crypto market, emphasizing our innovative approach to stablecoin transparency and security.

With a diverse group of investors, including IOSG Ventures and Kraken Ventures, what unique perspectives or expertise do these backers bring to the Usual project?

Our investor roster, featuring over 150 stakeholders including major DeFi founders, brings a wealth of expertise, liquidity, and strategic partnerships. Each investor believes in the need for a more secure and user-aligned stablecoin than currently exists. Their support is instrumental in integrating and scaling Usual, ensuring it not only meets but exceeds the current market standards.

What sets Usual’s Liquid Deposit Token (LDT) apart from other stablecoins in the DeFi space, and how does it contribute to Usual’s goal of becoming the leading DeFi-native stablecoin?

Usual’s LDT is a pioneering financial instrument that epitomizes the convergence of user trust and protocol utility. Each LDT is fully backed by the deposited asset, guaranteeing users can always reclaim their underlying assets on a 1:1 basis—this ensures principal protection.
“When locked in a Liquid Bond, the LDT earns USUAL governance tokens, directly passing on generated value back to the users, unlike centralized entities that often retain these gains.”

Pierre Person, CEO & Co-Founder of Usual Labs
This approach not only safeguards user assets but also aligns with our mission to democratize financial prosperity in the DeFi ecosystem.

How does Usual Labs prioritize security and community ownership in the development and governance of its stablecoin protocol?

At Usual Labs, transparency and security are foundational. We are committed to a protocol that is 100% transparent, with 90% of the USUAL tokens distributed to users, ensuring that the community directly benefits from and governs the protocol. This community-centric approach is crucial to breaking the network effects and monopolies that exist today, proving that change is both necessary and possible.

Could you discuss the journey of Usual Labs as a “bear-market startup” and how the team navigated challenging economic conditions to reach its current success?

Usual was conceived at the onset of the 2022 monetary policy shifts and before the collapse of major Web3 entities. The bear market tested us profoundly, compelling us to innovate and validate that our model was not just desirable but essential for the future of Web3. Our resilience in these tough times has set a strong foundation for our success.

What milestones are on the horizon for Usual Labs as it prepares for the pre-launch of the USD0 stablecoin on the Ethereum mainnet in Q2 2024?

Starting late May, we’re initiating a private phase for early depositors to test and begin liquidity onboarding. By the end of June, the protocol will be accessible to all users, allowing them to participate actively in Usual’s pre-launch phase. This step is crucial for stress-testing in real-world conditions and ensuring robust community engagement from the outset.

In what ways does Usual Labs plan to collaborate with other industry leaders and protocols to ensure the success and adoption of its stablecoin protocol?

We recently concluded a seed extension round, primarily with DeFi founders whose names we’ll announce soon. This strategic move underscores our commitment to serving the broader DeFi ecosystem and ensuring Usual becomes a cornerstone of it. Starting in the summer of 2024, we plan to integrate with a majority of existing DeFi protocols, enhancing both our utility and footprint across the industry.

Can you share insights into Usual Labs’ vision for transforming the financial landscape and empowering users to control their financial futures?

Usual Labs isn’t just creating another stablecoin; our vision extends to fundamentally reshaping how value is shared across the financial system. Our model will apply to other synthetic assets as well, with future directions and innovations driven by our community. This systemic approach ensures that Usual is not just a product but a platform for enduring financial empowerment and innovation.

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