CandleFocus Ondo Leverages LayerZero to Enhance USDY Stablecoin Fungibility Across Multiple Blockchains
2024-11-26
Author: Content Editor
The crypto news content discusses Ondo Finance's integration of LayerZero technology to enhance the functionality and interoperability of its yield-bearing stablecoin, USDY. This advancement allows USDY to operate seamlessly across various blockchain platforms, positioning it as a strong competitor to established stablecoins like USDC and USDT. The integration simplifies and streamlines crypto transactions for users, eliminating the need to mint new tokens or execute swaps between different blockchain ecosystems. Ondo Finance's TVL exceeds $450 million, indicating investor confidence in the platform, and USDY offers an attractive APR of approximately 4.9%. Furthermore, USDY's backing by tangible assets and the growth of tokenized Treasury products highlight its potential in the crypto market.
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