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@chicken
USDY (Ondo Finance) Ondo Finance, launched in August 2022, raised $20 million in a Series A funding round led by Pantera Capital and Founders Fund, with notable participation from Coinbase Ventures, Wintermute, and Tiger Global. One of Ondo Finance’s flagship products is USDY.
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@chetruoi
USDY is a "tokenized note" backed by short-term U.S. Treasury bonds and bank deposits. Ondo Finance offers two types of tokens: USDY and rUSDY, both of which can be easily swapped on their platform. rUSDY is a *rebase token that maintains its $1 value while distributing interest. In contrast, USDY retains a fixed token supply, with its value increasing over time, while rUSDY preserves its $1 value by adjusting the token quantity held by users.
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