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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

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    Ethereum Collections Lead NFT Sales Today

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    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

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    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Biggest Games Releasing in August 2025

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    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

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    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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  • AI
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Home DeFi

Mantle and Ondo Finance launch RWA-backed USDY yield token

November 7, 2023
in DeFi
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Mantle and Ondo Finance launch RWA-backed USDY yield token
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Decentralized, autonomous, organization-led web3 ecosystem Mantle partnered with tokenized financial products platform Ondo Finance to launch USDY, a return-generating token backed by real assets.

The yield-bearing token is being introduced to the Mantle Network following the launch of the Ethereum Layer 1 to Mantle Layer 2 bridge for USDY, a statement said. USDY is an upgradeable Ethereum ERC-20 token – available from Mantle decentralized exchanges such as Agni Finance and FusionX Finance.

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Ondo Finance is the leader in tokenized securities with approx 50% market share, according to a Steakhouse Financial Dune Analytics dashboard, and has legally structured USDY as a tokenized bearer instrument. Users can also directly invest in USDY on Mantle through Ondo Finance’s coin and bridge mechanism.

USDY offers an alternative to stablecoins such as Tether’s USDT and Circle’s USDC. It is a tokenized banknote backed by short-term U.S. Treasury bonds and demand bank deposits. According to the team, holders receive a return generated through the underlying assets in the form of accumulating token value.

Rebasing counterpart mUSD – a packaged version of USDY designed to maintain its peg at $1 with interest distributed via new tokens – is also expected to be released by Ondo Finance in the coming weeks, the team added.

“RWA is expected to play a key role in helping bring sustainable yield to Mantle’s broader DeFi ecosystem, and USDY and mUSD are crucial pieces of the puzzle,” said Mantle Chief Alchemist Jordi Alexander. “We are excited to work with Ondo Finance to build a highly liquid and easily accessible ecosystem for USDY and mUSD, which can be used and traded just like any stablecoin, but with the added benefit of being able to operate directly from the crypto wallet can benefit from the real yields from US government bonds. .”

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“We are excited to partner with Mantle to bring USDY to market with deep secondary market liquidity,” added Ondo founder and CEO Nathan Allman.

Seed liquidity from the massive Mantle Treasury

Mantle Network unveiled its mainnet alpha at EthCC in July. Following an earlier merger with backer BitDAO in May – which merged BitDAO’s governance framework and treasury into the network – Mantle is now backed by one of the largest government bonds in crypto, worth approximately $2 billion.

Mantle’s board proposal MIP-26 – approved by the Mantle community in September – provided seed liquidity for a combined consideration of up to 60 million RWA yield-backed USD stablecoins, 30,000 ether ($56 million) and 20 million MNT ($8.2 million), with now a significant liquidity is expected. are staked on Mantle DEXs for USDY and mUSD.

In addition to accessibility, potential use cases for the tokens in the Mantle ecosystem include collateral for derivatives and lending protocols, and yield-bearing stablecoins in DEXs to enhance the economic incentives of liquidity provision, payments and settlement, the team said.

“RWA on blockchain has emerged as one of the use cases with the greatest potential to deliver significant benefits to users through its ability to deliver sustainable indigenous yields,” it added. “Mantle’s foray into RWA is being conducted with the focus on providing the best product experience to the community, following careful research and significant due diligence.”

Tags: FinancelaunchMantleOndoRWAbackedTokenUSDYYield

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

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EDITOR'S PICK

Data Catalog Market Anticipated to Hit US$ 2,911.9 Mn by 2032: Persistence Market Research Study

Data Catalog Market Anticipated to Hit US$ 2,911.9 Mn by 2032: Persistence Market Research Study

March 21, 2025
Bitcoin whales rack up $600 mln BTC in 7 days – what’s brewing?

Bitcoin whales rack up $600 mln BTC in 7 days – what’s brewing?

November 1, 2023
Shiba Inu Under Bearish Pressure At Key Levels Owing To Negative Metrics: Here’s The Next Level For SHIB Price

Shiba Inu Under Bearish Pressure At Key Levels Owing To Negative Metrics: Here’s The Next Level For SHIB Price

November 22, 2023
Bitcoin breaks $60K: Here’s why $64K could be the next target

Bitcoin breaks $60K: Here’s why $64K could be the next target

September 18, 2024

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