Ondo Finance integrates with Injective

Published on: 23.11.2023
Ondo Finance integrates with Injective

Ondo Finance integrates with Injective, bridged USDY is now available on Injective.

Injective Presents US Treasuries-Backed Yield for Web3 Finance Applications

Injective, a high-speed blockchain platform for Web3 finance applications, has recently announced the integration of US Treasuries-backed yield. This new feature is made possible by bridging Ondo’s US Dollar Yield (USDY) token, which enables users of both Injective and the wider cosmos ecosystem to hold dollar-denominated value and earn an impressive yield at the same time.

“Ondo is rapidly redefining the real-world asset market, and for the first time in history users will be able to access tokenized treasuries directly across Injective native dApps. This integration signifies a key milestone in making traditional financial instruments accessible within the DeFi ecosystem. Injective is continuing to pave the way towards truly connecting traditional finance with the blockchain world.”—Eric Chen, co-founder and CEO of Injective Labs

Users have two methods to obtain USDY on Injective. First, they can bridge USDY from Ethereum Mainnet to Injective through the Injective Hub. Second, they can access native dApps like Helix to acquire tokens. This marks the first time that individuals throughout the Cosmos ecosystem can access non-speculative yield, while enjoying the institutional-grade structural and operational protections of USDY.

Introducing USDY: The First Tokenized Note Secured by US Treasuries and Bank Deposits

USDY is a revolutionary offering that combines the accessibility of stablecoins with high-quality US dollar-denominated yield. It is the world’s first tokenized note secured by a bankruptcy-remote portfolio of US Treasuries and bank deposits, making it ideal for non-US investors and institutions.

Here are some key features of USDY:

  • Secured by a bankruptcy-remote portfolio of US Treasuries and bank deposits.
  • Allows non-US investors and institutions to access high-quality US dollar-denominated yield.
  • Combines the accessibility of stablecoins with the stability of US Treasuries and bank deposits.

USDY is a tokenized note secured by short-term US Treasuries and bank demand deposits. USDY is accessible to non-US individual and institutional investors and is transferable on-chain 40-50 days after purchase.

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