The UZR Migrator is now live. USL positions can move to Fira. This is the first step in bringing Usual’s credit lane home.

🔗: app.fira.money/migrate

Migration is one-way only: Euler → Fira. Once moved, positions cannot return to Euler. This keeps the transition clean and avoids fragmented liquidity.

The rollout is progressive. Liquidity is being added in tranches: Jan 15 opens with the first tranche, more tranches are added through Jan 18, and from Jan 19 liquidity scales with demand. If a tranche fills quickly, that is expected. More liquidity will follow and each new tranche will be announced publicly.

Following Usual’s $16M Bug Bounty, we’re adding a dedicated $7.5M bounty for Usual Zero Rate on Fira. Details (incl. scope + rules) will be published later this week.

USUAL rewards on USL continue during the transition. Even if you cannot migrate immediately, you keep earning. Rewards continue for a few days to avoid a cliff, with the final distribution following the usual schedule. No one is penalized for a slow rollout.

Migration is available now. Borrow and Repay on the Fira UI go live Jan 22. Until then you can migrate, but you cannot yet borrow or repay through the Fira frontend. Advanced users can interact directly with contracts.

With UZR, borrowing is zero-rate, fees flow to the DAO, and the credit lane becomes protocol-owned. This is not just a new market. It is a structural shift. USD0 moves from a passive balance to working capital, credit becomes native, and governance takes control of its most important rail. The migrator is live, liquidity is scaling, and the credit lane is coming home.