GRAND CAYMAN, Cayman Islands, March 1st, 2024/Chainwire/-- Ondo launches native access to tokenized real-world assets on Sui. Sui, the Layer 1 blockchain that offers industry-leading performance and infinite scaling, has announced that Ondo Finance’s yield-bearing stablecoin alternative is now live on the network and available for immediate use by builders, developers, and their end users. Ondo’s US treasury-backed and interest-bearing token, USDY, is the Sui Network’s first native dollar-denominated token. Ondo’s expansion to Sui offers key functionalities enabling builders and developers within the ultra-composable Sui ecosystem to create decentralized applications with significantly more features. Sui’s fast-rising DeFi TVL and volume, along with its adoption by leading projects, including some from other platforms, indicates a network that is experiencing growing demand for its next-generation financial applications. Ondo Finance is the third-largest platform bringing tokenized forms of real-world assets onto public blockchains with $185M in TVL. Ondo’s flagship Treasury-backed tokens and other tokenized real-world assets will create countless new opportunities for teams building on Sui. At inception, DeFi protocols with immediate integrations of USDY include Aftermath Finance, Cetus, NAVI Protocol, Typus Finance, Bucket Protocol, Turbos, and KriyaDEX. “I am extremely excited to bring the unique benefits of Ondo’s treasury-backed, yield-bearing USDY token to the builders and developers on Sui,” said Ondo’s founder and CEO, Nathan Allman. “The combination of our technologies offers this group, which is already creating apps at the forefront of DeFi, a unique opportunity to leverage Sui to advance the industry even further.” The tokenized treasury-backed offerings that now live on the Sui Network represent tradable tokens backed by real-world assets, marking a significant step toward growing DeFi in the ecosystem and across the industry. “Sui’s rapid growth in decentralized finance, exemplified by the significant assets and projects coming to the ecosystem, is a clear illustration that the network is ready to incorporate the latest in tokenized real-world assets,” said Greg Siourounis, Managing Director of the Sui Foundation. “Having a version of Ondo’s USDY that is native to Sui will unlock exciting new opportunities for Sui’s builders and developers and new features for the users of their applications.” Contact Sui Foundation media@sui.io This story was distributed as a release by Financewire under HackerNoon’s Business Blogging Program. Learn more about the program here.

This is a PR written by or for the company mentioned within it. The writer has a vested interest in the company and products mentioned within.

Proof Of Talk Returns To The Louvre Palace As Agenda-Setting Event For Web3

BinaryX IGO To List Project Matthew: Build A Space City With ERC-404 NFTs

Visit Our Website

Chainwire Blog

Too Long; Didn't Read

Download free Tech Leaders Productivity Report!

Ondo Launches Native Access To Tokenized Real-World Assets On Sui

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Untitled Story

$500k Presale: TG.Casino Passes Milestone with Upcoming Telegram-Powered Platform

$DEFI Token Hits 7 Major Exchanges: A Milestone Achievement

$JTC Network To List On BitMart Exchange

10 Decentralized Applications Integrate Sui’s Groundbreaking zkLogin Google Authentication

АdEx Announces a Zero-Knowledge Targeting Engine

$500k Presale: TG.Casino Passes Milestone with Upcoming Telegram-Powered Platform

$DEFI Token Hits 7 Major Exchanges: A Milestone Achievement

$JTC Network To List On BitMart Exchange

10 Decentralized Applications Integrate Sui’s Groundbreaking zkLogin Google Authentication

АdEx Announces a Zero-Knowledge Targeting Engine

Light-Mode

Classic

Newspaper

Dark-Mode

Neon Noir

Minty

HN StartUps