Mantle and Ondo Finance launch RWA-backed USDY yield token

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.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Dunn and Wilks brothers finance PACs with ties to antisemitesThree Texas billionaires finance a web of political action committees and candidates with antisemitic connections.
مصدر: HoustonChron - 🏆 609. / 51 اقرأ أكثر »

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.
مصدر: FXStreetNews - 🏆 14. / 72 اقرأ أكثر »

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?
مصدر: Gizmodo - 🏆 556. / 51 اقرأ أكثر »

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.
مصدر: NBCNews - 🏆 10. / 86 اقرأ أكثر »