Zug, Switzerland--(Newsfile Corp. - June 20, 2024) - MANTRA, a leading RWA-focused blockchain, today announced the official launch of its highly anticipated USDY vault. This initiative enables users to gain exposure to yield backed by short-term US Treasuries, within the DeFi landscape.
MANTRA x ONDO
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Powered by Ondo Finance's market-leading USDY yieldcoin, the MANTRA USDY vault offers a compelling alternative to traditional financial instruments. Participants earn yield on their holdings, while USDY maintains the flexibility and convenience associated with stablecoins.
Learn more about the USDY vault and participate here: https://hongbai.io/vaults/sxRxRTNN9k35g2aBEa9H/details
The USDY vault not only offers a current APY of 5.3%, but Ondo Foundation and MANTRA have incentivized the vault with $ONDO and mainnet $OM, which participants will receive when MANTRA mainnet launches.
The USDY vault provides complete transparency into the underlying assets in its portfolio, fostering a high level of trust and security for investors. (NOTE: USDY has not been registered under the US Securities Act or the securities laws of any other jurisdiction, and is not, and may not be, offered, sold, or otherwise made available in the US, to US persons or to persons in other restricted jurisdictions. USDY also.)
Nathan Allman, CEO of Ondo Finance, remarked, "We are excited to see the USDY vault now live on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale."
John Patrick Mullin, CEO and Co-Founder of MANTRA expressed his enthusiasm, stating, "The USDY vault launch represents a strategic advancement for MANTRA within the real world asset (RWA) tokenization space. By introducing this unique solution, we are strategically expanding the yield portfolio available to crypto participants. This empowers them to seamlessly integrate our RWA yield-bearing product into their DeFi strategies. Our collaboration with Ondo Finance serves to bolster our ecosystem, in line with our long-term vision of establishing a scalable infrastructure for RWA tokenization."
The USDY vault launch marks a significant milestone for MANTRA on the road to bridging traditional finance (TradFi) with the broader DeFi landscape through RWA tokenization. It paves the way for seamless access to RWA yield within a secure and transparent environment, allowing users to explore new investment vehicles.
About Ondo Foundation
Ondo Foundation is a Cayman Islands foundation company whose mission is to usher in a new era of financial inclusivity and market efficiency through onchain institutional-grade financial products and services. Ondo Foundation is a nonprofit with no beneficial owners.
About Ondo Finance
Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. Ondo has an asset management arm that creates and manages tokenized financial products as well as a technology arm that develops decentralized finance protocols and other blockchain solutions.
Ondo USDY is supported by both the Ondo Foundation and Ondo Finance.
About MANTRA
MANTRA is a purpose-built compliance-ready Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
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Media Contact:
Contact Person: Shilika Jain , Head of PR
Email: press@mantrachain.io
Source: MANTRA Chain
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213815
SOURCE: MANTRA Chain Association
