- Usual stablecoins USD0 and USD0++ leverage Chainlink’s decentralized oracle network to aggregate real-time, volume-weighted pricing data from multiple exchanges.
- By using Chainlink CCIP, Usual enables secure, seamless cross-chain transfers of USUAL tokens.
Usual, the issuer of decentralized fiat-backed (RWA) stablecoin has upgraded to the Chainlink standard for enhancing the utility as well as the liquidity of its two stablecoins USD0 and USD0++. By upgrading to the chainlink Standard, Usual would be leveraging the CCIP infrastructure, along with Data Feeds and Proof of Reserve.
This integration will help Usual address challenges in the tokenized asset space while offering users and the ecosystem enhanced transparency and utility.
Leveraging Chainlink Price Feeds for USD0 and USD0++
To ensure maximum security and transparency within the Usual ecosystem, stablecoins USD0 and USD0++ depend on accurate, real-time asset pricing supplied directly on-chain. In order to derive the fair market price, it uses a volume-weighted average across multiple trading environments.
However, to achieve this level of accuracy and reliability, it’s important to have an oracle network, that will aggregate price data from off-chain sources and deliver it on-chain. This integration ensures the ecosystem operates with precision while maintaining trust and efficiency in all transactions.
As a result, Chainlink has integrated Chainlink Price Feeds that offer high-quality data aggregated from premium providers across multiple exchanges. Additionally, Chainlink provides a decentralized network of independent, security-reviewed node operators, while minimizingthe risk of a single point of failure. Speaking on the development, Adli Takkal Bataille, cofounder at Usual said:
“We’re excited to adopt the Chainlink standard to accelerate the adoption of USD0 and USD0++, enabling the creation of secure onchain markets around these assets, while providing transparency around reserves and enabling seamless cross-chain movement.”
Usual to Leverage the Cross-Chain Interoperability (CCIP)
Usual is leveraging Chainlink CCIP to enable secure and efficient cross-chain transfers of USUAL tokens on Base and BNB Chain. Using a burn-and-mint mechanism, USUAL moves seamlessly across networks while preserving its integrity. Key benefits include:
- Robust Security: CCIP uses Chainlink’s Decentralized Oracle Network (DON) to validate cross-chain transactions, ensuring security with redundancy from multiple validators and an independent Risk Management Network.
- Secure Transfers: Cross-chain transfers don’t require changes to USUAL’s smart contract, providing a secure and flexible solution. Built-in rate limits protect against congestion and market volatility.
- Programmable Transfers: CCIP enables value and data to move across chains, triggering smart contracts to execute actions upon receiving USUAL.
- Future-Proof: The architecture supports seamless integration of new blockchains, assets, and evolving security features as the ecosystem grows.
As previously mentioned in our report, Chainlink introduced the CCIP v1.5upgrade on the mainnet while introducing low-friction billing mechanisms thereby enabling payment for VRF requests in LINK and other assets.
Building Transparency Using Chainlink Proof of Reserve
To boost transparency for USD0 and USD0++ stablecoins, Usual will integrate Chainlink’s Proof of Reserve, an on-chain verification tool that ensures continuous monitoring and public auditing of collateral backing our tokens, as noted in our previous article.
By using the same Chainlink infrastructure that secures Price Feeds, Usual boosts the verifiability of tokenized real-world assets, ensuring USD0’s collateral remains strong across Base, BNB Chain, and beyond.
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