Ondo Finance has collaborated with NAVI Protocol to promote the use of its stablecoin USDY. The campaign, running from Feb. 26 to March 12, allows participants to earn rewards by supplying liquidity for USD on the NAVI Protocol. The rewards, totaling $35,000, will be distributed in NAVX and USDY to the top 100 participants and additional winners. USDY is a stablecoin backed by US Treasury bills and bank deposits, making it an on-chain alternative to holding cash or investing in money market funds. It operates on various blockchain networks and has been integrated into several DeFi platforms. As of Feb. 26, USDY has a market capitalization of around $382 million.



Other News from Today