Usual ETH0

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

ETH0 is a synthetic Ethereum-based asset fully collateralized by Lido’s wrapped staked ETH (wstETH).

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Usual ETH0 is published as a versioned release inside the Usual protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Usual ETH0 is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Feb 25, 2026
   Listed on DeFiLlama

Usual ETH0 is a Synthetics protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed on Ethereum. No public audit reports are listed on DeFiLlama for this protocol.

Verified external resources for Usual ETH0 — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Usual ETH0 is one of 7 Synthetics protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Alchemix, Metronome Synth, Youves, and 3 more. These peer protocols collectively secure $87.3M in deposits, giving you a frame of reference for whether Usual ETH0's own TVL is at the top, middle, or tail of the category.

Alchemix

TVL $33.4M · 24h -0.07%

Metronome Synth

TVL $27.3M · 24h +0.12%

Youves

TVL $22.9M · 24h +0.38%

Rumpel Labs

TVL $2.2M · 24h +0.54%

Outcome Finance

TVL $983K · 24h +0.50%

Wrap Protocol

TVL $524.7K · 24h +0.32%