Ondo Finance has officially launched its tokenized note USDY on Arbitrum Network, marking a significant milestone for decentralized finance (DeFi). The BIT Journal reports that Ondo Finance’s tokenized note, USDY, is now accessible on the Ethereum layer-2 scaling solution, Arbitrum. This launch is set to unlock new opportunities for DeFi enthusiasts, offering them a secure, yield-bearing asset backed by short-term US Treasuries.
According to data from RWA.xyz, USDY, which currently boasts a market value of $347 million, has already been live on major blockchain networks such as Ethereum and Solana. With its entry into Arbitrum, USDY is now poised to enhance the DeFi ecosystem on this rapidly growing platform.
Ondo USDY Expands DeFi Benefits on Arbitrum
By integrating with Arbitrum, Ondo USDY offers users on the network an opportunity to invest in real-world assets through Arbitrum’s top DeFi protocols, Camelot and Dolomite. This development is expected to drive significant growth in Arbitrum’s DeFi landscape.
Katie Wheeler, VP of partnerships at Ondo Finance, expressed excitement about the launch. “We are thrilled to see USDY on Arbitrum Network, paving the way for some of the largest decentralized finance applications to leverage our tokenized US treasuries,” Wheeler stated. The integration of USDY on Arbitrum is set to benefit ARB holders, offering them new avenues to earn returns within the DeFi space.
Ondo USDY holders can expect to earn an annual percentage yield (APY) of 5.35%. This launch is not only a boost for U.S. investors but also opens doors for non-U.S. investors to tap into the growing DeFi ecosystem on Arbitrum. The move is part of ArbitrumDAO’s broader strategy to diversify its treasury, with six million ARB tokens now invested in Ondo’s tokenized note.
Ondo USDY Strengthens RWA Market on Arbitrum
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The introduction of Ondo USDY on Arbitrum aligns with the broader growth of the real-world assets (RWA) market. As DeFi continues to evolve, tokenized treasuries are gaining traction, with the total market value of this sector quickly surpassing the $2 billion mark. The BIT Journal notes that Ondo Finance, alongside giants like BlackRock and Franklin Templeton, is leading the charge in this burgeoning market.
Arbitrum’s decision to integrate USDY into its ecosystem is a testament to the growing importance of RWAs in DeFi. With 17% of Arbitrum’s total treasury investment now tied to Ondo USDY, this launch is set to strengthen the platform’s financial stability and attract more investors seeking secure and high-yielding assets.
Ondo USDY on Arbitrum Ushers in New Era for DeFi Investors
The launch of Ondo USDY on Arbitrum is more than just a new listing; it represents a significant step forward for both Ondo Finance and the DeFi community. By offering a yield-bearing asset secured by U.S. Treasuries, USDY provides a level of security and stability that is rare in the volatile world of cryptocurrencies.
As the RWA market continues to grow, with major players like Ondo Finance at the helm, the future of DeFi looks promising. This launch could pave the way for even more innovation in the space, particularly as more investors flock to secure, yield-bearing assets like Ondo USDY.
Ondo’s YSDY on Arbitrum Network: What’s Next?
The launch of Ondo’s USDY on Arbitrum Network is a game-changer for the DeFi landscape. The BIT Journal reports that this integration not only enhances the offerings on Arbitrum but also sets the stage for the future growth of RWAs in DeFi. As the market continues to expand, Ondo USDY is well-positioned to lead the charge, offering investors a secure and profitable avenue in the ever-evolving world of decentralized finance (DeFi).
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