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Usual USD0

avoid.net/usual-usd0→42/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·54mw7f…jwSK

Summary

Usual is a Paris-based DeFi stablecoin protocol founded in 2022 by former French politician Pierre Person and co-founders Adli Takkal Bataille and Hugo Salle de Chou. The protocol issues USD0, a stablecoin collateralized by tokenized US Treasury Bills, alongside USD0++, a four-year locked bond derivative that suffered a significant depeg event in January 2025 after the team unilaterally changed redemption rules without adequate community notice. A smart contract arbitrage exploit was also detected and paused in May 2025, and USD0++ tokens were stolen in an unrelated third-party hack of Zoth Protocol in March 2025.

Connected Entities

10 entities · 60 linked investigations
Organizations
□Kraken62□Ethereum64□Binance45□Pendle50□Usual USD0□Mantle60
Protocols
⌂Zoth Protocol8⌂Uniswap58⌂Curve Finance62
Tokens
♦Coinbase62
Relationships
  • Ethereum→mentioned with→Coinbase(60%)
  • Mantle→mentioned with→Ethereum(80%)
  • Zoth Protocol→mentioned with→Ethereum(60%)
  • Zoth Protocol→mentioned with→Uniswap(70%)
  • Binance→mentioned with→Ethereum(65%)
  • Curve Finance→mentioned with→Ethereum(80%)
  • Uniswap→mentioned with→Ethereum(80%)
  • Pendle→mentioned with→Ethereum(80%)
  • Usual USD0→mentioned with→Curve Finance(80%)
  • Usual USD0→mentioned with→Zoth Protocol(80%)
  • + 8 more
Also appears in
Kraken·62Ethereum·64Mantle·60Lendf.me·30Levyathan·18Jump Trading·42OpenZeppelin AI Exploit Threat Vector·15StableMagnet·2Shibarium·28Bankr·18+ 50 more

Connected Through

9 shared actors · 599 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Usual USD0?

Timeline(13 events)

2022

Usual Labs co-founded by Pierre Person, Adli Takkal Bataille, and Hugo Salle de Chou

17 April 2024

Usual Labs raises $7 million seed round led by IOSG Ventures and Kraken Ventures

CoinDesk

15 November 2024

USUAL governance token launches on Binance Launchpool; farming period begins

Binance

19 November 2024

USUAL/USDT pre-market trading begins on Binance

CoinGape

December 2024

Usual raises $10 million Series A led by Binance Labs and Kraken Ventures

Crowdfund Insider

20 December 2024

USUAL governance token reaches all-time high of approximately $1.61-$1.64

CoinGecko

2025

Usual Protocol TVL peaks at approximately $1.87 billion

DeFiLlama / CoinDesk

9 January 2025

Usual Protocol announces dual-path exit change, lowering USD0++ unconditional redemption floor to $0.87; market panic begins

The Block

10 January 2025

USD0++ falls below $0.90 on Curve Finance; USUAL token drops 17%; TVL falls below $1.6 billion; widespread community backlash including from Aave founder Stani Kulechov

CoinDesk

13 January 2025

Usual activates revenue switch, distributing protocol earnings to USUALx stakers; introduces 1:1 early unstaking with reward forfeiture

Usual Blog

6 March 2025

Zoth Protocol, which holds USD0++ collateral, loses $285,000 in Uniswap V3 liquidity pool exploit

Crypto Times

21 March 2025

Zoth Protocol hacked for $8.4 million via compromised deployer private key; attacker withdraws $8.45 million in USD0++ tokens and converts to ETH

Halborn

27 May 2025

Usual USD0++ Investment Vault arbitrage exploit detected by BlockSec Phalcon; attacker extracts approximately $43,000 via flash loan arbitrage between USD0++ and USD0; vault contracts paused; no user funds lost

Usual / CoinEdition
Provenance & Audit Trail
Anchored on SolanaVerify on-chain25 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (2 events). 25 of 29 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:23 AM

last updated: 8/30/2026, 8:07:20 PM

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