Ondo Finance extends access to its revenue token USDY to Arbitrum
2024-08-27 21:59:46
Ondo Finance, a real-world asset (RWA) protocol, is extending access to the Ondo dollar revenue token (USDY) to Ethereum's Layer 2 scaling network Arbitrum, according to an Aug. 27 blog post. Ondo's USDY is an revenue token designed to give users an annual return of up to 5.35 percent through stablecoins such as USD Coin. Ondo says each USDY token is backed by bank deposits and short-term treasury security. The USDY has a total lock-in value of $364 million and is also available on eight blockchain networks, including Ethereum and Solana.
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