In an announcement printed by crypto.information on August 27, Ondo Finance and Arbitrum stated that the tokenized debt instrument USDY has been launched on Ethereum’s L2 scaling answer. Ondo U.S. Greenback Yield is a yield asset backed by short-term U.S. Treasury bonds that at the moment accounts for $347 million in market worth. In response to RWA.xyz, USDY is traded on Ethereum and Solana, amongst different blockchain networks.
With its launch on Arbitrum, USDY is now accessible on one other main decentralized finance platform. In an announcement on August 27, the Arbitrum Basis stated that Ondo’s tokenized treasury asset now affords its real-world funding to customers on Arbitrum’s main DeFi protocols Camelot and Dolomite.
USDY holders earn 5.35% annual curiosity and can permit non-US buyers on Arbitrum — each retail and institutional — to entry the advantages of stablecoins, enticing annual yields, and institutional-grade investor safety. Ondo’s launch of USDY on Arbitrum follows ArbitrumDAO’s transfer to diversify six million ARB tokens right into a tokenized asset on Ondo. This system goals to help the adoption of RWA on Arbitrum, with ARB staked in Ondo’s USDY representing 17% of Arbitrum’s whole $36 billion treasury funding.
Picture: Ondo Finance Weblog
