Discover how Ondo Finance and Pyth Community are revolutionizing decentralized finance by integrating institutional property throughout over 65 blockchain ecosystems. Learn the way their partnership enhances on-chain accessibility to conventional property, benefiting sensible contract builders and DeFi customers alike.
DeFi is poised to revolutionize capital markets and the monetary trade by enabling decentralized entry to conventional property. To totally understand this potential, on-chain customers require seamless entry to those property throughout numerous blockchain and decentralized functions.
Ondo Finance, a number one supplier of tokenized real-world property, has partnered with Pyth Community to realize this imaginative and prescient. Their collaboration has led to the launch of the USDY/USD price feed by Pyth, now accessible throughout greater than 65 blockchain ecosystems. This milestone permits sensible contract builders worldwide to make the most of real-time feeds for Ondo’s yieldcoin, USDY.
This growth opens new alternatives for builders and initiatives to include institutional property on-chain, enhancing DeFi’s potential. Pyth Community’s over 100 first-party knowledge suppliers are set to help extra real-world property as demanded by Web3 builders.
“This is a huge unlock for developers and projects building the future of finance. Many leading DeFi applications and protocols rely on Pyth as an oracle provider, and this USDY/USD price feed marks a significant step towards cutting through the fragmented nature of blockchain ecosystems to make institutional assets widely accessible.” — Katie Wheeler, VP of Partnerships at Ondo Finance.
What’s Ondo’s US Greenback Yield Token?
Ondo’s US Greenback Yield (USDY) is a tokenized observe backed by short-term US treasuries. USDY affords a steady, yield-generating various to conventional stablecoins, merging some great benefits of on-chain finance with the soundness of conventional property. Supported by safe and liquid property, USDY offers sustainable yields for each institutional and particular person market members in on-chain capital markets.
Be taught extra about USDY right here.
Increasing DeFi’s Potential with USDY
The Pyth USDY/USD price feed launch extends USDY’s attain to the EVM, Solana, Transfer, Bitcoin, and Cosmos ecosystems. This partnership goals to create a unified and interoperable DeFi expertise, overcoming the fragmented nature of blockchain ecosystems.
Wider Attain: The USDY/USD feed is now lively on over 65 blockchains, enabling various on-chain functions to determine markets for USDY. The widespread availability of key property fosters a extra composable and dynamic DeFi panorama.
Multi-Chain Synergies: The USDY/USD feed’s presence throughout a number of blockchains permits DeFi functions to increase their attain and serve new person bases. This helps break down silos within the blockchain world, selling free motion of property throughout totally different chains.
Bridging Conventional and Decentralized Finance: This growth is essential for integrating institutional finance into DeFi, bringing enhanced liquidity, safety, and stability. By incorporating conventional property on sensible contract platforms, Ondo is paving the best way for extra refined DeFi services.
Actual-time Publicity: Pyth Value Feeds present updates at sub-second speeds, enabling on-chain customers to trace conventional capital markets in close to real-time. This characteristic ranges the enjoying discipline between DeFi and CeFi options, opening new market alternatives.
Ecosystem Pleasure
Oracle feeds for key property are very important for blockchain foundations to develop their ecosystems, entice builders, and higher serve customers. The Aptos, Solana, and Mantle Foundations are among the many first to make the most of the brand new Pyth USDY/USD feed.
Aptos
Aptos and Ondo Finance are collaborating to tokenize real-world property. The Pyth Value Feeds for Ondo merchandise will speed up this initiative.
Solana
Ondo Finance has expanded its US Treasury-backed property to the Solana ecosystem, supporting the broader development of bringing conventional property onto blockchain platforms. The Pyth oracle feeds improve Solana’s Layer 1 choices.
Mantle
Mantle and Ondo Finance are working collectively to additional the real-world asset (RWA) motion, bringing sustainable yields to the DeFi ecosystem. The Pyth USDY/USD feed marks an essential milestone on this effort.
DeFi Protocols
A number of Pyth ecosystem companions are already integrating this price feed, increasing its attain and utility.
Drift — A dynamic AMM-based perpetual futures DEX on Solana.
FlashTrade — Asset-backed buying and selling with on-demand liquidity on Solana.
Thala — A DeFi HyperApp and liquidity engine on Aptos.
DePerp — A perpetual buying and selling mini-app in Telegram and net app on Base.
“Traders on Drift rely heavily on the availability of real-time, accurate price data like USDY. Low-latency price data is crucial to Drift’s products, enabling seamless trades on perpetuals and on-chain derivatives. Pyth’s pull oracles significantly reduces the risk of stale pricing.” — Chris, core contributor at Drift
“We are excited to launch USDY into Thala pools, allowing users to trade USDY and gain exposure to tokenized treasury yields. Further, USDY will also be whitelisted as a collateral for our stablecoin, MOD. This is part of our bigger vision to make Thala the Liquidity Hub for RWAs on Aptos.” — Adam Cader, Co-Founding father of Thala
“Flash is always on the lookout for innovations in the DeFi that brings more sources of real yield on chain. USDY is a big step in that direction and Pyth’s new price feed allows us to easily integrate it into our pools knowing we are quoting accurate prices for this asset.” Treggs, Head of Threat and Technique at Flash Commerce
What’s Subsequent?
Pyth Community and Ondo Finance are collaborating to help sensible contract builders in creating extra accessible and complex decentralized finance options.
Builders can discover the price feeds accessible to see which knowledge feeds—together with any new Ondo Finance tokenized merchandise—could also be printed subsequent.