Ondo Finance Now Available on Injective
21 Nov 2023
1 min read
For the first time ever, users on Injective, a lightning-fast blockchain for Web3 finance applications, can acquire tokenized US Treasuries in the form of the USD Yield token ($UDSY) from Ondo Finance. Ondo is the market leader in connecting traditional financial assets to blockchain networks, with over $200 million of its tokenized US Treasuries circulating today.
Eligible users can now access USDY by bridging it from Ethereum through the Injective Hub, allowing them to earn yield on tokenized US Treasuries entirely on-chain. The integration with Ondo cements Injective’s position as a leading L1 for both interoperability and Real World Assets (RWAs).
The USDY token will now work across Ethereum and Injective, allowing users on Ethereum to seamlessly onboard onto Injective and earn yield on tokenized treasuries.
The implementation will also be the first time that users across the broader Cosmos ecosystem can access tokenized treasuries with USDY being bridged from Ethereum. Injective will serve as the primary hub across the IBC world for interacting with RWAs such as USDY.
Users will be able to access USDY either by bridging USDY over to Injective from Ethereum using the Injective Hub or via a host of native dApps built on Injective such as Helix, the premier decentralized exchange on the network. Injective has directly integrated some of the largest institutions on its chain, enabling the highest levels of liquidity and capital efficiency for new assets such as RWAs.
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