Usual

A KuCoin research page says distribution began in mid-December 2024, with 8.5% of total USUAL supply allocated to people who farmed "Pills", the project's points, including a 1% bonus for dedicated participants. CoinMarketCap says circulating supply would be about 12.37%, or 494.6 million tokens, if all airdrops were claimed.

For 2026 we found only a roadmap on BingX: expanding USD0 adoption, deeper real-world-asset integration and decentralised governance. It does not say what has been delivered. We found no 2026 announcement about airdrop completion, price or USD0 supply, so we leave out figures we cannot source.

The 90% revenue claim deserves care. Treasury bill yield is real, but a stablecoin that passes most revenue to users and its token holders still has to cover costs, and how revenue is shared can change by governance vote.

Stablecoins backed by Treasury bills carry issuer, custody and redemption risks that differ from those of an algorithmic stablecoin. They are still not risk-free: a stablecoin can lose its peg if redemptions are slow or if holders doubt the reserves.

For readers weighing similar stablecoin governance tokens, the core question is where value comes from. If the revenue of the protocol is the Treasury yield on its reserves, then the amount that reaches token holders depends on rates, on how much of the stablecoin is in circulation and on governance choices about sharing. Reading the revenue and fee-sharing documentation, and checking independent dashboards for actual figures, tells you much more than the percentage in a headline.