News Formal

Mantle and Ondo Finance launch RWA-backed USDY yield token

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 53%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

Mantle and Ondo Finance have launched USDY — a yield token backed by real-world assets on the Ethereum Layer 2 Mantle Network.

Decentralized autonomous organization-led web3 ecosystem Mantle partnered with tokenized financial products platform Ondo Finance to launch USDY, a yield-generating token backed by real-world assets.

Ondo Finance is the leader in tokenized securities with approximately 50% market share, according to a Steakhouse Financial Dune Analytics dashboard, and has legally structured USDY as a tokenized bearer instrument. Users can also onboard directly into USDY on Mantle via Ondo Finance’s mint and bridging mechanism.

Rebasing counterpart mUSD — a wrapped version of USDY designed to maintain a peg to $1 with interest distributed via new tokens — is also expected to be issued by Ondo Finance in the coming weeks, the team added. “We are delighted to partner with Mantle to bring USDY to market with deep secondary market liquidity,” Ondo founder and CEO Nathan Allman added.Mantle Network unveiled its mainnet alpha at EthCC in July. Following a previous merger with backer BitDAO in May — amalgamating BitDAO’s governance framework and treasury with the network — Mantle is now backed by one of the largest treasuries in crypto, worth around $2 billion.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 464. in FR

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Dunn and Wilks brothers finance PACs with ties to antisemitesThree Texas billionaires finance a web of political action committees and candidates with antisemitic connections.
La source: HoustonChron - 🏆 609. / 51 Lire la suite »

China’s Finance Ministry: Will accelerate the issuance and use of government bondsChina’s newly appointed Finance Minister Lan Foan said over the weekend that the government “will accelerate the issuance and use of government bonds.
La source: FXStreetNews - 🏆 14. / 72 Lire la suite »

Gizmodo Monday Puzzle: Can You Pass This Finance Job Interview Test?One hundred people are opening and closing doors in a hallway. Can you predict the final result?
La source: Gizmodo - 🏆 556. / 51 Lire la suite »

Chinese lending has shifted from Belt and Road to rescue finance, report saysChina, the world’s biggest bilateral lender, appears to be switching from infrastructure to rescue lending, U.S. researchers said.
La source: NBCNews - 🏆 10. / 86 Lire la suite »