MANTRA RWA-focused Layer 1 Blockchain Announces Official Launch of RWA Vault Featuring Ondo Finance\'s USDY Stablecoin

With this instrument, cryptocurrency owners will be able to benefit from yield instruments backed by short-term U.S. Treasuries.

Blockchain technology company MANTRA has announced the launch of its RWA (real world asset) vault, featuring Ondo’s USDY stablecoin.

The vault will offer an annual percentage yield (APY) of 5.3% for cryptocurrency holders who choose to participate.

In addition to the APY, stakers will also be eligible for further rewards in the form of $OM and $ONDO tokens.

According to a statement from the MANTRA and Ondo Finance teams, a USDY vault and liquidity machine, named after the stablecoin, is finally kicking off with 5.3% in yield for its providers, with additional rewards promised in $OM and $ONDO tokens.

The statement reads:

“USDY is not, and may not be, offered, sold or otherwise made available in the US or to US persons. USDY also isn’t designed to be used for speculative trading and is intended to be used as a medium of exchange for everyday purchases and to serve the community.”

The MANTRA USDY vault provides a compelling alternative to traditional financial instruments by offering yield on holdings while maintaining the flexibility and convenience of stablecoins.

The USDY vault offers complete transparency into the underlying assets within its portfolio, fostering a high level of trust and security for investors.

Apart from a substantial current APY of 5.3%, which is higher than the majority of stablecoin-based yield initiatives, the Ondo Foundation and MANTRA have further incentivized the vault with bonuses in their respective native cryptocurrencies.

ONDO tokens and OM coins will be sent to stakers once MANTRA mainnet goes live and will be credited retroactively for the time the vault was live on the testnet.

Mainnet OM coins will be distributed among MANTRA ecosystem participants once the network hits mainnet.

Speaking on the development, Nathan Allman, CEO of Ondo Finance, said:

“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, adding:

“The launch of the USDY vault marks a strategic advance 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 launch of the USDY vault is a significant development for MANTRA in its goal of bridging TradFi with the blockchain economy through RWA tokenization.

News source：https://www.kdj.com/cryptocurrencies-news/articles/mantra-rwafocused-layer-blockchain-announces-official-launch-rwa-vault-featuring-ondo-finance-usdy-stablecoin.html

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