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Usual USD

Use Cases for USD Coin (USDC)

The USD Coin (USDC) is a stable digital asset that offers several practical use cases:

Hedging and Trading

• Hedge Against Volatility: Investors can use USDC to protect their gains from market fluctuations by converting volatile cryptocurrencies into USDC, which is pegged to the US dollar.
• Pricing in Fiat Money: USDC allows for the pricing of digital assets in fiat money, making it easier to trade and invest in cryptocurrencies.
• Stable Price-Pegging: USDC maintains a stable price by holding fiat currency equal to the amount of circulating USDC, ensuring that its value remains close to $1.

Cross-Border Payments

• Global Transfer of Value: USDC facilitates fast and low-cost cross-border transfers, enabling businesses and individuals to send and receive payments globally without the high fees and restrictions associated with traditional banking systems.
• Remittances: USDC can be used for remittances, allowing individuals to send money across borders quickly and securely.

Financial Services

• Lending and Borrowing: USDC can be lent or borrowed against other cryptocurrencies on lending platforms, providing a stable and secure way to access liquidity.
• Decentralized Finance (DeFi): USDC is used in DeFi applications, such as lending, borrowing, and yield farming, offering new financial opportunities.

On-Chain Purchases

• On-Chain Marketplaces: USDC is used in on-chain marketplaces for purchasing digital goods and services, including NFTs, making it easier to conduct transactions on blockchain platforms.

Global Crowdfunding

• Crowdfunding: USDC can be used for global crowdfunding, enabling projects to raise funds from a global audience without the need for traditional banking systems.

Blockchain Interconnection

• Interoperability: USDC is compatible with several blockchains, including Ethereum, Algorand, Solana, Stellar, Polkadot, and others, making it a versatile and widely accepted stablecoin.

Pros of Usual USD

• Stability: The Usual USD is backed by the U.S. government and is not subject to the same price volatility as cryptocurrencies. This makes it a reliable store of value.
• Universal Acceptance: It is widely accepted globally for various financial transactions, including retail, investing, lending, and wholesale trade.
• Regulatory Oversight: Transactions involving Usual USD are covered by extensive regulations, providing legal protections and recourse.
• Fixed Rate: The exchange rate of Usual USD remains stable over time, offering reliability and constancy.

Cons of Usual USD

• Limited Use in Crypto Markets: Unlike stablecoins, Usual USD cannot be used directly for crypto-to-crypto transactions on digital currency exchanges and decentralized finance platforms.
• Less Flexible for Crypto Trading: It does not offer the same level of transactional speed and multichain capability as stablecoins, making it less suitable for rapid trading and speculation in crypto markets.
• No Decentralization Benefits: Usual USD does not provide the decentralization and censorship-resistance benefits that are inherent in blockchain-based assets.
• Lower Yields: Holding Usual USD in a bank account typically offers lower yields compared to staking stablecoins in DeFi protocols.

Founders of Usual USD

Usual USD is the product of Usual Labs, a team led by:

• Pierre Person: The CEO, who brings invaluable experience from his background as a former French Member of Parliament. His political insight and leadership are crucial in navigating the complex landscape of decentralized finance and regulation.
• Adli Takkal Bataille: The DeFi OG and Liquid Fund Manager serving as the DEO.
• Hugo Sallé de Chou: The COO, a fintech entrepreneur known for his work in P2P payments with Pumpkin.

These individuals, along with their team, have worked to bring the Usual DAO and its ecosystem to life since the third quarter of 2022.

Demographics of Crypto Investors

• Age: The majority of crypto users are younger individuals, with 20% of millennials, 11% of Generation X, and 4% of baby boomers having conducted transfers into crypto accounts.
• Gender: Men are more actively engaged in crypto, being about twice as likely to have transferred money into or out of crypto accounts compared to women. Men also have higher median total gross transfers, approximately $1,000, compared to $400 for women.
• Race: Among millennials, Asian individuals have the highest involvement rate at 27%, followed by Black and Hispanic individuals at 21%, and White individuals at 20%.
• Income: Crypto involvement increases moderately with higher incomes across racial groups. Higher-income individuals have transferred more money into crypto accounts, both in dollar values and when scaled by weeks’ worth of take-home pay.
• Global Adoption: High-income earners are disproportionately represented among crypto investors, with 25% of crypto owners making $100,000 or more annually. Globally, India ranks first in Chainalysis's global crypto adoption index, followed by Nigeria and Vietnam.

Halal Status of Usual USD

No, the halal status of Usual USD is not universally agreed upon. The reason is that there is no consensus among Islamic scholars on whether cryptocurrencies like Usual USD are halal or haram. Some scholars argue that cryptocurrencies are haram because they are used primarily for speculation and do not have a physical asset backing them, while others consider them halal if they are used to purchase goods and services and comply with Islamic finance principles.

Key Considerations for Halal Status

• Physical Asset Backing: Some scholars require a physical asset backing for a cryptocurrency to be considered halal.
• Speculative Use: Cryptocurrencies used primarily for speculation may be considered haram.
• Compliance with Islamic Finance Principles: Cryptocurrencies must comply with principles such as the prohibition of riba (interest) to be considered halal.

Shariah Compliance Guidelines

• Legitimacy Screening: Ensuring the cryptocurrency is a genuine project and not a scam.
• Project Screening: Ensuring the project is Shariah compliant.
• Financials Screening: Ensuring it meets financial criteria for Shariah compliance if it is an equity-based token.
• Token Screening: Understanding the Shariah compliance of the token.
• Staking Screening: Understanding the Shariah compliance of the staking mechanism.