Ondo US Dollar Yield
Crypto Overview
Purpose and Intended Use
USDY is a tokenized note backed by high-quality, short-term US Treasury Bills, launched by Ondo Finance. It aims to provide tokenized exposure to US Treasury yields while maintaining compliance with securities regulations.
Business Model
The token represents ownership of US Treasury Bills held in custody by qualified institutions. Holders receive daily yield accrual from the underlying Treasury Bills. The model is transparent, with clear custody arrangements and regular reporting of holdings.
Real-World Adoption
USDY launched in 2023 and has gained significant institutional adoption. It operates on multiple blockchain networks including Ethereum and Polygon, with increasing trading volume and institutional partnerships.
Platform Development
Ondo Finance maintains active development of the platform, with regular updates to smart contracts and infrastructure. The project has strong institutional backing and a professional team with experience in traditional finance.
Token Distribution and Governance
USDY tokens are minted when users deposit USD and burned when redeemed. There is no preferential token allocation to founders or early investors, as tokens purely represent ownership of underlying Treasury Bills.
Crypto Impact
To assign a comfort level investing in Ondo US Dollar Yield from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ondo US Dollar Yield.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.