Usual: USD0 always has redeemable 1:1 collateral and strong secondary liquidity

On January 1st, Usual officially stated that yesterday (December 31st, 7:00 am UTC), the Usual protocol experienced a massive sell-off of USD0 caused by a single whale transaction on the secondary market, which raised suspicions among users about the USD0 being pegged to the US dollar. USD0 briefly dropped to $0.99, and due to continued selling, some basis point deviations appeared, but it quickly returned to full pegging. All US dollar stablecoins on the market will experience price fluctuations of a few basis points around $1, which is a normal phenomenon caused by the mechanism of US dollar stablecoins. USD0 can always be redeemed for its underlying collateral at a 1:1 ratio to ensure the solvency of the Usual protocol. The exchange is processed through smart contracts, and currently any whitelisted entity can access it. Our ultimate goal is to make it completely permissionless. USD0 also has strong secondary liquidity, and the secondary liquidity of collateral depends on tokenized RWA issuers. Usual chooses diversified assets such as USYC, Ethena's USDTB, BlackRock's Securitize BUIDL Fund, and Ondo's OUSG to ensure multiple exit paths and optimal liquidity. This event is a significant stress test for the USD0 peg to the US dollar, and Usual remains strong and will always focus on the stability of the system.