"It turns out it was the official's doing!"
After the official announcement, USD0++ has experienced a decoupling from USDC. One USD0++ can only be exchanged for 0.94 USDT on Curve.
The official has added two early exit mechanisms for USD0++! Mainly to support the price of $Usual! For detailed explanation, see below.
1 "Two New Exit Mechanisms for USD0++"
1. Achieve dual-path primary exit of USD0++ at a bottom price of 0.87 USD0 through the USUAL dAPP, and provide early unstaking at a 1:1 ratio next week.
2. The early cancellation of staking function will be launched in the Dapp next week, allowing USD0++ to be exchanged for USD0 at a 1:1 ratio by destroying USUAL tokens.
Simply put, if you mined USUAL while staking and made a profit from selling, now if you want to redeem early, you must buy back and destroy the USUAL you sold (exact proportion to be determined). I will allow you to redeem, essentially supporting the price.
Or if you've made a 13% profit, you can directly leave at a ratio of 0.87.
2 "Purpose of the New Mechanism"
Flywheel effect: The income generated from the underlying mechanism or the income consumed through early cancellation of staking enhances the USUAL token, thereby increasing the yield of USD0++.
In simple terms, it eliminates market arbitrage, preventing users from using USD0++ to mine Usual and sell for profit. If you want to leave, everyone who has sold must buy back from me!
Tail
To be honest, the project party should have done this earlier. Now that the TVL has increased and retail investors have entered, implementing this feels a bit like closing the door after the dog has run out, everyone who has profited must return it.
However, from the project's perspective, this is also understandable. To avoid USUAL completely degrading into a mining coin, the final result must be inconclusive.
So it is not recommended to participate in the future. Those who have already participated can exit based on their personal situation.
