| General information | |
|---|---|
| Global rank: | 214 |
| Name: |
Ondo US Dollar Yield |
| Symbol: | USDY |
| Current coin price (BSD): | 1.05 $ |
| Last hour: | arrow_upward0.130 % |
| Last 24 hours: | arrow_downward-0.750 % |
| Last 7 days: | -0.690 %trending_down |
| Capitalisation (BSD): | 337 673 849.79 $ |
| Volume 24h (BSD): | 1 103 281.80 $ |
| Available supply: | 322 119 848.00 USDY |
| Total coin supply: | -1 USDY |
| Start date: | 2023-08-03 |
Ondo US Dollar Yield/Bahamian Dollar (USDY/BSD) price chart
Ondo US Dollar Yield/Bahamian Dollar (USDY/BSD) capitalisation and volume charts
Ondo US Dollar Yield (USDY) is a financial instrument offered by Ondo Finance, taking the form of a tokenized note. This note is backed by US Treasuries and bank deposits, combining the security of traditional financial assets with the innovation of digital tokens. It is designed as the senior secured debt of Ondo USDY LLC, a special purpose vehicle established to be separate and bankruptcy-remote from Ondo Finance, aiming to provide enhanced security for its investors.
USDY serves as a bearer instrument that offers a variable yield starting at 5% Annual Percentage Yield (APY), appealing to those looking for a mix of stability and profitability in their investment. It operates similarly to stablecoins in terms of accessibility but stands out due to its secured backing and yield potential. USDY can be minted or redeemed directly with Ondo by both individuals and institutions without the need for accreditation. This process allows for daily engagement, promoting ease of access and participation in the financial instrument. After a waiting period of 40-50 days post-minting, USDY tokens can be transferred on-chain to investors who meet specific eligibility criteria, including non-US persons located outside the United States.