CandleFocus Ondo Is Using LayerZero To Make Its Yieldcoin Fully Fungible Across Multiple Blockchain Networks
2024-11-27
Author: Content Editor
Ondo Finance is using LayerZero to make its flagship yieldcoin, USDY, fungible across multiple blockchain networks. This integration allows users to access Ondo's tokenized US Dollar Yield Token and tokenized US Treasury bond product without issuing new tokens or swapping assets. USDY is now fully fungible across Ethereum, Mantle, and Arbitrum, with plans to add more networks in the future. Ondo's USDY offers users a 4.9% APR and is backed by bank deposits and short-term treasury bills. The token has a total value locked of over $450 million and is available on eight blockchain networks.
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