Yesterday, @usual published an article about the exit plan related to USD0++. Here are a few key points:
All opinions are personal analyses and do not constitute investment advice.<<<<
- Exit Plan 1: The low price of USD0++ to USD0 is 0.87. The official exit channel is provided. Why is it 0.87? I believe the 0.13 burned opportunity represents the 4 years of profits from USD0++. In simple terms, USD0++ can exit, but it has to leave the 4-year profit behind. This price difference will eventually be counted as the underlying asset of USD0++. This was also mentioned in the previous article.
- Exit Plan 2: Pay Usual, offering a 1:1 exit, but this ratio will definitely be smaller than 13%, or else no one will choose it. Usual will allocate this part to USUALx / USUAL* / burn 30% each.
Here’s a quick breakdown of one of the game-theory points: USD0++ profits decline -> People want to exit -> Go to the market and buy Usual/USD0++ TVL decreases -> Usual rises -> USD0++ profits increase There are many such game-theory points, like the price of USD0++, the underlying assets of USD0++, interest rates, and so on.
- USD0 is very unlikely to de-peg from its mechanism (excluding rug pulls and theft), because the underlying assets of USD0 are USD and US Treasuries, and the official team has manual adjustment capabilities.
I believe the team has now passed the early stage of scaling. These arbitrage games will soon be settled. After all, once USD0++ is in, it's not easy to get out unless the 4 years of interest are left behind.
The reason USDT is USDT is mainly due to its use cases. I hope USD0 can make more breakthroughs in this area and be used in more DeFi applications, whether it's in DEX trading pairs, perpetual exchanges, or other launchpads, to fulfill its original goal: "To become the dividend version of USDT."