This achievement is realized through the bridging of Ondo’s US Dollar Yield (USDY) token, offering users across Injective and the broader cosmos ecosystem the ability to store dollar-denominated value while generating an attractive yield.

Users will have the option to bridge USDY from Ethereum Mainnet to Injective via the Injective Hub, or to acquire tokens via a host of native dApps built on Injective, such as Helix. Users across the Cosmos ecosystem can, for the first time, access this form of non-speculative yield while benefiting from the institutional-grade structural and operational protections of USDY.

About Injective

Injective is a lightning-fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera, and Mark Cuban.

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About Ondo Finance

Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. Ondo has an asset management arm that creates and manages tokenized financial products as well as a technology arm that develops decentralized finance protocols and blockchain solutions.

Ondo’s first core products are tokenized cash equivalents that deliver very low risk, high-quality yield from U.S. Treasuries, money market funds, and similar instruments, offering on-chain investors an alternative to stablecoins where holders rather than issuers earn the vast majority of the underlying asset yield. Ondo also developed Flux Finance, a DeFi lending protocol supporting tokenized treasuries as collateral, recreating treasury repo markets on-chain while creating on-chain utility for Ondo’s tokenized securities.

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SOURCE:
https://blog.ondo.finance/bridged-usdy-is-now-available-on-injective/

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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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Angle will become the first project to utilize Liquidity-as-a-Service with a euro-pegged stablecoin. Angle’s approval follows an initial proposal by the Paladin community.

What is agEUR-as-a-Service?

agEUR-as-a-Service (agEUR-aaS) is a new offering from Angle and Ondo to make it possible for projects issuing tokens to increase liquidity on decentralized exchanges.

This offering complements the already existing Liquidity-as-a-Service program from Ondo as it introduces the ability to build liquidity in a Euro-denominated stablecoin. This will better meet the needs of European protocols who now have the choice between USD or EUR stablecoins.

With agEUR-aaS, a project can deposit its token into an Ondo liquidity vault with a fixed duration. Angle will match those deposits with an equivalent amount of agEUR to form a liquidity pair. In exchange for providing agEUR, the Angle DAO will receive a fixed APR return on its provided liquidity.

How will agEUR-aaS benefit Angle & Paladin?

With agEUR-aaS, Paladin will achieve twice as much liquidity from the same amount of capital. As noted in PGP-10, agEUR-aaS is an incredibly cost-effective form of liquidity:

Currently there is 5.26% slippage for a 25,000 USDC buy, 7.93% for a 50,000 USDC buy and 12.56% for a 100,000 USDC buy…[this partnership] will add $1.1M of depth, enabling $50k trades under 4% slippage and raising trade volume by creating a third pool to arbitrage…[this program will] quell a temporary delay in liquidity depth with a significantly cheaper budget than liquidity mining.

Paladin will benefit from PAL exposure to another DEX, in this case Uniswap v2, without the need for costly liquidity mining (LM) incentives in the form of mercenary liquidity in order to grow liquidity. Despite being costly, traditional LM dilutes token holders and increases sell pressure on the token.

With agEUR-aaS, Paladin can also retain all trading fees and capture the potential upside value of the trading pair. This reduces the risk of impermanent loss (IL) and often outstrips the cost of capital.

For Angle, the vault will provide a stable APR while removing the risk of IL. Their agEUR stablecoin will gain further liquidity via another token pair, as well as form part of only three pools that PAL is traded in. This partnership allows Angle to increase the utility of agEUR while earning revenue for the protocol.

Angle now sets the stage for further partnerships with other token issuers who wish to utilize agEUR-aaS to gain cost-effective liquidity in the form of agEUR.

About Paladin

Paladin is a decentralized governance lending protocol deployed on the Ethereum blockchain which enables users to loan voting power in their governance token, or borrow voting power.

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About Angle Protocol

Angle is a decentralized stablecoin protocol predominately deployed on the Ethereum blockchain. It is used to issue stablecoins, called agTokens, and claims to be starting with “the first liquid Euro stablecoin on-chain”.

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About Ondo Finance

Ondo Finance is building a decentralized investment bank. They are building software that finds attractive investments across the traditional and DeFi landscape, repackages these assets into easily understood risk/reward offerings, and then matches and offers these assets to both institutional and retail investors.

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