Ondo Finance is shaking things up in DeFi by landing its USDY token on Arbitrum, Ethereum’s layer-2 scaling network.
This new partnership, announced on August 27, aims to enhance the access and utilization of real-world asset protocols in the blockchain landscape.
Thinking $ONDO outperforms #BTC as it works on a reclaim. pic.twitter.com/4XZs5b70UA
— 🇦🇺🌌 Čhenž_Ťradeš 🌌🇦🇺 (@V2Chenz) August 28, 2024
Unlocking Yield Opportunities with Ondo Finance X USDY
USDY isn’t just another crypto token; it’s your ticket to a 5.35% yield on USDC or your US Dollars, all wrapped in the safety net of bank deposits and treasury bills. In a market known for its wild swings, USDY promises both security and reward.
“Paving the way for some of the largest decentralized finance applications to leverage our tokenized US Treasuries,” stated Katie Wheeler, Ondo’s vice president of partnerships.
By expanding USDY to Arbitrum, Ondo Finance is tapping into a rising star in the DeFi arena. They hope to draw more DeFi projects toward tokenizing US Treasuries, which perfectly aligns with Ondo’s vision of bridging the gap between traditional finance and blockchain innovation.
The RWA narrative will be huge this cycle.
$ONDO is leading the RWA narrative, and even #BlackRock is using the ONDO Finance platform.
Right now, it's forming a falling wedge pattern, with the breakout level at $0.9.
Keep an eye 👀 pic.twitter.com/2l72LZ5z8u— AMCrypto (@AMCryptoAlex) August 17, 2024
Tokenized treasury products have become the new darlings of finance, luring in yields rivaling the best money market funds, but with a blockchain twist.
This year alone, the market cap for tokenized treasuries has rocketed by 150%, eyeing a $3 billion mark by 2024. Giants like BlackRock and Franklin are leading the charge, while Ondo Finance’s USDY, locked at $364 million and spread across eight networks including Ethereum and Solana.
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Arbitrum’s Rising Influence: 2 Other RWAs to Check Out
Besides Ondo Finance, Arbitrum is fast becoming the go-to spot for tokenized Real World Assets (RWAs), especially treasury yield products. This month, Franklin Templeton’s FOBXX moved onto Arbitrum, marking the network as a critical player in the RWA landscape.
Meanwhile, USDY operates under Regulation S, locking out US investors and enforcing a 40-day transfer freeze post-issuance.
Colorado #Church Group #Tokenizes Chapel for $2.5 Million Purchase. #Polymesh #XRP https://t.co/1asvKAFXMK
— XRP-WINS (@EdsonXRPWINS) August 19, 2024
Another pioneer in the RWA space is Polymesh crypto (POLYX) a two-year-old specialized permissioned blockchain designed for regulated assets such as securities, tokens, and NFTs.
Polymesh also recently helped facilitate the first tokenized church purchase in Colorado, showing that it is on the cutting edge of real estate. POLYX is trading for $0.2178 under a $300 million market cap.
Lastly, there’s Pendle crypto, which Arthur Hayes and Blackrock both support.
Pendle is reimagining DeFi with future yield trading, offering users a chance to maximize returns via sophisticated smart contracts and seamless DeFi connections.
If you’re interested in the RWA narrative, Ondo Finance, Arbitrum, Polymesh, and Pendle are innovating heavily in this space.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
