Ondo Finance Launches USDY Yieldcoin on Arbitrum Layer 2 Network 🚀
Ondo Finance has announced the launch of its USDY yieldcoin on Arbitrum, a major Ethereum Layer 2 scaling network. This move marks a significant expansion of real-world assets (RWAs) in decentralized finance (DeFi), opening up new opportunities for investors in the crypto space.
USDY: Tokenized US Treasury Product for Non-US Investors 🏦
USDY, a tokenized US Treasury product, is now available to non-US investors on one of the largest DeFi ecosystems. This innovative offering provides a 5.35% annual percentage yield (APY) and has garnered over $350 million in total value locked (TVL) across 8 blockchains, offering stability and attractive yields to global investors.
- With over $350 million in TVL
- 5.35% APY for investors
- A tokenized US Treasury product
Integration with Arbitrum DeFi Protocols 🔄
USDY is now seamlessly integrated with leading Arbitrum DeFi protocols, allowing users to engage in various activities within the ecosystem.
- Available on Camelot for swapping and liquidity provision
- Accessible on Dolomite for lending and borrowing activities
- Provides users with multiple options for interacting with the product
Arbitrum DAO Diversifies into USDY 💼
The Arbitrum DAO’s STEP Committee recently decided to diversify 6 million ARB tokens from its treasury into Ondo’s USDY. This move represents 17% of Arbitrum’s total treasury investment, highlighting the growing demand for real-world assets on blockchain networks.
USDY Launch Reflects Growing Trend of Tokenized RWAs 📈
The launch of USDY on Arbitrum is part of a larger trend in the crypto space, where tokenized treasury products are gaining traction. These assets offer users the benefits of traditional securities while leveraging the innovation and efficiency of blockchain technology.
Tokenized Treasury Products on the Rise 🌐
According to industry data, the market cap for tokenized treasury products has grown significantly this year and is projected to continue its upward trajectory. Major players in this space, such as BlackRock and Franklin Templeton, have also expanded their offerings to include blockchain networks like Arbitrum.
Hot Take: USDY Opens Up New Opportunities in DeFi 🌟
The launch of USDY on Arbitrum represents a significant milestone in the integration of real-world assets into the decentralized finance space. As more investors seek stable and secure investment options, tokenized treasury products like USDY are poised to play a crucial role in the future of DeFi.
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