Locked USUALx holders earn a direct share of protocol revenue, paid weekly in USD0. This article explains how it works, how much you can expect, and what affects your share.
The essentials
30% of all protocol revenue is distributed to locked USUALx holders
Payments are made in USD0, weekly
Only locked USUALx is eligible (basic staking is not)
Your share depends on your lock weight (longer locks earn more per unit)
How much revenue is distributed
Protocol revenue as of early 2026 is around $5.5–6M per year. The 30% share to locked USUALx holders is therefore approximately $1.65–1.8M per year distributed on a weekly cadence.
That revenue comes from:
Yield on US Treasury Bills backing USD0
Yield on Eurozone Treasury Bills backing EUR0
Fees on bUSD0, sUSD0, and Usual Credit
Treasury and arbitrage income on DAO assets
Revenue is variable. A larger platform generates more revenue and larger distributions. A contracting platform generates less.
How your share is calculated
Your weekly USD0 distribution depends on two things:
Your share of total locked USUALx — proportional to your position
Your lock multiplier — longer locks carry a higher weight
Locks come in standard durations:
Lock duration | Relative weight |
1 month | Base |
3 months | Higher |
6 months | Higher still |
12 months | Highest |
The exact multipliers are displayed in the app. A 12-month lock can earn significantly more than a 1-month lock for the same amount of USUALx.
A worked example
Suppose:
Total protocol revenue for the year: $6M
Share to locked USUALx: 30% = $1.8M
Weekly distribution: $1.8M ÷ 52 ≈ $34,615
Your share of locked USUALx TVL (weighted): 0.05%
Your weekly distribution: $34,615 × 0.05% = $17.30 per week → ~$900 per year
At different protocol sizes:
Annual revenue | Your weekly (at 0.05% share) | Your yearly |
$6M | $17 | $900 |
$15M | $43 | $2,250 |
$30M | $87 | $4,500 |
Your return scales with platform growth. This is the structural upside of being locked USUALx.
How and when you receive it
Distributions happen on a weekly cadence
Paid directly in USD0 to your account
No claim required in most cases — the payment flows to your account automatically
You can see the upcoming distribution and your current share in the app
What you can do with the USD0
Hold it as stable balance
Save with sUSD0 to earn a T-Bill rate on top
Trade it for USDC or another asset
Use it as collateral for borrowing via Usual Credit
Compound into more USUAL → USUALx to grow your lock position
Risks to understand
Risk | What it means |
Revenue volatility | If protocol revenue drops (e.g., because of lower T-Bill rates or smaller TVL), your distributions drop. |
Lock-up | Locked USUALx cannot be unstaked before the end of the lock. Choose a duration you can commit to. |
Governance changes | The 30% share is fixed by the Revenue Switch, but the underlying lock weights and reward mechanics can be adjusted via UIPs. |
USD0 peg risk | Distributions are paid in USD0. If USD0 loses its peg, your distributions are worth less until the peg is restored. |
Note: The 30% revenue share was established by the Revenue Switch (January 2025) and confirmed in subsequent UIPs. It is enforced at the contract level.
Technical note (for DeFi users): Revenue distribution flows through the Distribution contract at 0x75cC0C0DDD2Ccafe6EC415bE686267588011E36A. The 30/70 split to USUALx / DAO treasury is enforced on-chain. Weekly distributions to locked USUALx are calculated based on each position's lock weight in the USUALx Lockup contract (0x85b6f9bddb10c6b320d07416a250f984f0f0e9ed). See the docs for the live distribution data.
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