bUSD0 pays a daily coupon in USUAL. This article explains where that coupon comes from, how much you can expect, and what makes the rate vary.
The source of the yield
bUSD0's yield has two components:
Protocol revenue — Usual earns revenue from the Treasury Bills backing USD0. A portion of that revenue is allocated to bUSD0 holders as USUAL tokens.
USUAL emissions — a fixed daily amount of USUAL is distributed to all bUSD0 holders as a direct reward for locking their balance.
The result is a steady, daily flow of USUAL into your account for as long as you hold bUSD0.
How much yield
The daily USUAL coupon is governed by the platform's emission schedule. As of early 2026:
Approximately 130,000 USUAL per day is distributed to bUSD0 holders (set by UIP-11, November 2025)
Your share depends on how much bUSD0 you hold relative to the total bUSD0 supply
The dollar-equivalent rate depends on the market price of USUAL at the time
Because the yield is paid in USUAL, not in dollars, the effective dollar rate moves with the USUAL price. Higher USUAL price means a higher effective rate. Lower USUAL price means a lower effective rate.
A worked example
Suppose you deposit 10,000 USD0 into bUSD0. Assume:
Daily USUAL to all bUSD0 holders: 130,000 USUAL
Total bUSD0 supply: 500,000,000 (illustrative)
Step | Calculation | Result |
Your share of total supply | 10,000 / 500,000,000 | 0.002% |
Your daily USUAL | 130,000 × 0.002% | 2.6 USUAL per day |
If USUAL = $0.08 | 2.6 × 0.08 | $0.21 per day (~7.6% annualized) |
If USUAL = $0.24 (3×) | 2.6 × 0.24 | $0.62 per day (~22.8% annualized) |
These numbers are illustrative. Real yields depend on total supply and USUAL market price at the time you hold.
How you receive the coupon
The USUAL coupon is distributed daily, automatically
It accrues to a claimable balance in the app
You do not need to claim every day — let it accumulate if you prefer
You can claim at any time and do what you want with the USUAL
What you can do with the USUAL
Action | Effect |
Sell to USDC | Convert coupon to dollars immediately |
Stake in USUALx | Earn a share of protocol revenue on top of your bUSD0 coupon |
Hold USUAL | Keep exposure to USUAL price appreciation |
Compound into more bUSD0 | Convert USUAL → USDC → USD0 → bUSD0 to grow your position |
Yield risks to understand
USUAL price volatility — your effective dollar rate depends on USUAL's market price
Emission changes — the DAO can adjust the daily USUAL allocation via future UIPs
Proximity to maturity — as June 2028 approaches, the yield profile may shift as the market prices the remaining time
Note: The yield on bUSD0 is not a fixed dollar rate. It is a stream of USUAL tokens that converts to a variable dollar rate. If you want a steady dollar rate, consider sUSD0 instead.
Technical note (for DeFi users): bUSD0 receives its pro-rata share of the bTOKEN emission bucket (~130K USUAL/day post-UIP-11 disinflation, November 2025). Coupons accrue through the distribution module and are claimable via the app or direct contract calls. See the docs for the current emission curve and the full bTOKEN allocation formula.
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