Usual Official
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UIP-9 in Practice: Usual’s Buyback Program
UIP-9 introduced a long-term buyback framework grounded in capital discipline and sustainability. Rather than relying on one-off actions, the goal was to establish a repeatable process funded by protocol activity and aligned with the protocol’s maturity over time.
As we close the year, this is a brief check-in on how that program has progressed.
Over Q3 and Q4 2025, buybacks were executed continuously off-chain, with USUAL acquired through market purchases and later transferred from centralized venues to the DAO treasury. These transfers were not performed on a transaction-by-transaction basis. Instead, tokens were withdrawn in batches and moved to the DAO wallet as custody was consolidated.
As a result, the on-chain record reflects the movement of tokens into the DAO wallet rather than the precise timing of individual buyback executions.
Across sixteen weeks, approximately $4.7 million was deployed through the buyback program, resulting in 86.5 million USUAL acquired. These figures reflect completed buybacks during the period. Any USUAL that remains temporarily on centralized exchanges is not included in these totals and will be reflected once transferred.
During this window, the DAO was also able to take advantage of market dislocations, including the October 10 flash crash, to execute buybacks under favorable conditions. As with the rest of the program, these purchases were made as part of an ongoing strategy rather than as isolated actions.
For transparency, tokens transferred to the DAO are visible at the following treasury address: https://etherscan.io/address/0xe3FD5A2cA538904A9e967CBd9e64518369e5a03f
A more detailed breakdown of the buyback program, including aggregated figures and timelines, is available on Dune for those who wish to explore further.
Buybacks are one component of a broader focus on sustainability, capital discipline, and long-term growth. UIP-9 was designed to support that direction, and this year’s execution reflects a measured, ongoing approach as the protocol continues to mature.
As we close the year, this is a brief check-in on how that program has progressed.
Over Q3 and Q4 2025, buybacks were executed continuously off-chain, with USUAL acquired through market purchases and later transferred from centralized venues to the DAO treasury. These transfers were not performed on a transaction-by-transaction basis. Instead, tokens were withdrawn in batches and moved to the DAO wallet as custody was consolidated.
As a result, the on-chain record reflects the movement of tokens into the DAO wallet rather than the precise timing of individual buyback executions.
Across sixteen weeks, approximately $4.7 million was deployed through the buyback program, resulting in 86.5 million USUAL acquired. These figures reflect completed buybacks during the period. Any USUAL that remains temporarily on centralized exchanges is not included in these totals and will be reflected once transferred.
During this window, the DAO was also able to take advantage of market dislocations, including the October 10 flash crash, to execute buybacks under favorable conditions. As with the rest of the program, these purchases were made as part of an ongoing strategy rather than as isolated actions.
For transparency, tokens transferred to the DAO are visible at the following treasury address: https://etherscan.io/address/0xe3FD5A2cA538904A9e967CBd9e64518369e5a03f
A more detailed breakdown of the buyback program, including aggregated figures and timelines, is available on Dune for those who wish to explore further.
Buybacks are one component of a broader focus on sustainability, capital discipline, and long-term growth. UIP-9 was designed to support that direction, and this year’s execution reflects a measured, ongoing approach as the protocol continues to mature.
ရှင်းလင်းချက်- ပြင်ပအဖွဲ့အစည်း၏ ထင်မြင်ယူဆချက်များ ပါဝင်သည်။ ဘဏ္ဍာရေးဆိုင်ရာ အကြံပေးခြင်း မဟုတ်ပါ။ စပွန်ဆာပေးထားသော အကြောင်းအရာများ ပါဝင်နိုင်ပါသည်။ See T&Cs.