Ondo Finance has reached a serious milestone, surpassing $600 million TVL throughout all of its income merchandise. The platform now holds $384 million in USDY and $221 million in OUSG, cementing its place as a number one issuer of tokenized treasury bonds. Ondo Finance shared the announcement in a current put up, celebrating the achievement because it continues to guide the actual world asset (RWA) sector.
Launched in January 2024, Ondo Finance has shortly grow to be a serious participant within the RWA sector. With a present market cap approaching $1 billion, Ondo’s speedy progress underscores its robust place available in the market. Whereas the main target is on establishments, particular person traders can even commerce on the Ondo platform. Nonetheless, they need to full Know Your Buyer (KYC) whereas companies should full Know Your Enterprise (KYB).
Ondo Finance provides two predominant tokenized notes: USDY and OUSG. USDY is backed by short-term U.S. Treasury bonds and financial institution demand deposits, providing an annual share yield (APY) of 5.35%. OUSG, additionally backed by U.S. Treasuries, provides an APY of 5.08% however is just obtainable to certified purchasers. The platform solely operates on enterprise days, in contrast to many
Picture: CoinGecko
