Ecosystem Partners For USDY on SUI
Ondo is excited to introduce USDY on the SUI blockchain, opening up opportunities for users on the Sui blockchain to seamlessly buy and use USDY via a diverse selection of decentralized applications. This milestone reflects a concerted effort with leading ecosystem partners such as Cetus, Turbos, Aftermath, Kriya, FlowX, Navi, Scallop, OmniBTC, Bucket, Typus, Supra, and MSafe, all contributing to this achievement.
USDY is designed to offer the convenience of stablecoins coupled with an attractive 5.1% APY, setting the stage for innovative yield farming strategies. With the support of these strategic alliances, Ondo is set to expand USDY's reach within the SUI network significantly.
How to obtain USDY on SUI
Non-US investors can onboard here, or, acquire USDY within the SUI ecosystem. After swapping stablecoins for USDY, holders instantly start earning 5.1% APY backed by US Treasury Bills.
For those looking to get USDY on the SUI blockchain, our partner platforms are the go-to destinations. Available liquidity pools for USDY include:
- USDY-USDC pools on Cetus, Turbos, Kriya, and FlowX
- USDY-afSUI pool on Aftermath
- USDY-USDT on Kriya
- OmniBTC provides cross-chain swaps to ease the acquisition of USDY on SUI
You can verify the current price of USDY, as well as find further information, at Ondo's website: https://ondo.finance/usdy
How to Utilize USDY on SUI
On top of the 5.1% APY yield natively distributed, token holders will soon be able to use USDY tokens across the SUI ecosystem, such as:
- Providing liquidity for USDY on your favorite DEX
- Navi, Scallop, and OmniBTC will have USDY markets to allow USDY to be posted as collateral
- Bucket will accept USDY as collateral for minting their stablecoin, BUCK
- Typus is opening option vaults with USDY
- More to be announced soon…
Some of these opportunities will benefit from additional rewards.
Oracle Price Feeds
Supra brings two price feeds for USDY on SUI, unlocking use cases where USDY can be used as collateral:
- A primary market price feed reflecting the price at which users can buy and redeem USDY from Ondo.
- A secondary market price feed reflecting the price at which USDY is traded across all sources of liquidity both inside and outside of the SUI ecosystem.
Multisigs
Ondo combines the native SUI multisig alongside MSafe to manage the USDY.
Recap on USDY
USDY is the world’s first tokenized note secured by a bankruptcy-remote portfolio of US Treasuries. It is accessible to non-US individual and institutional investors and is designed to combine the accessibility of stablecoins with high-quality, US dollar-denominated yield. Key features include:
Broadly Accessible: Tokenized loan that can trade globally in secondary markets to non-US investors
Yield-Bearing: Accrues a variable interest rate, adjusted monthly by the issuer. Yield accrues in the form of a redemption value that increases over time
Daily Liquidity: Non-US investors can both mint and redeem USDY on a daily basis
High-Quality Collateral: Secured by a portfolio of short-term US Treasuries under control agreements
Compliant with Regulations: Issued under a continuous Reg S offering to offshore investors with best practices KYC/AML/CFT procedures
Bankruptcy-Remote: Assets designed to be ring-fenced from a hypothetical Ondo bankruptcy