Ondo Launches Native Access to Tokenized Real-World Assets on Sui

On March 1st, 2024, in Grand Cayman, Cayman Islands, Chainwire Ondo launches Sui Sui's latest feature - native access to tokenized real-world assets. This new addition to the Layer 1 blockchain provides industry-leading performance and infinite scaling capabilities. Ondo Finance has also announced the availability of their yield-bearing stablecoin alternative for immediate use by developers, builders, and end-users on the network.

Ondo USDY Treasuries Token Now on Sui – Blocking.net

Grand Cayman, Cayman Islands, March 1st, 2024, Chainwire

Introduction

The Layer 1 blockchain, Sui, known for its industry-leading performance and infinite scaling, has announced that Ondo Finance’s yield-bearing stablecoin alternative, USDY, is now live on the network. This news brings exciting opportunities for builders, developers, and end-users in the Sui ecosystem.

Ondo Finance Expands to Sui

Ondo Finance, with its $185M in Total Value Locked (TVL), is the third-largest platform bringing tokenized forms of real-world assets onto public blockchains. With its flagship Treasury-backed tokens and other tokenized assets, Ondo Finance will create countless new opportunities for teams building on Sui.

Benefits for Builders and Developers

The integration of Ondo’s USDY on Sui provides builders and developers within the Sui ecosystem with key functionalities to create decentralized applications with enhanced features. Sui’s fast-growing DeFi Total Value Locked (TVL) and volume, along with its adoption by leading projects, indicate a network that is experiencing significant demand for its next-generation financial applications.

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Immediate Integrations of USDY

DeFi protocols such as Aftermath Finance, Cetus, NAVI Protocol, Typus Finance, Bucket Protocol, Turbos, and KriyaDEX will have immediate integrations of USDY. This integration will enable these platforms to leverage the unique benefits of Ondo’s treasury-backed, yield-bearing USDY token on Sui.

Perspectives from Ondo’s Founder and CEO

Nathan Allman, the founder and CEO of Ondo Finance, is thrilled to bring the benefits of USDY to builders and developers on Sui. He states, “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.”

Tokenized Treasury-Backed Offerings

The tokenized treasury-backed offerings on the Sui Network represent tradable tokens backed by real-world assets. This development marks a significant step towards the growth of DeFi within the ecosystem and the industry as a whole.

Perspectives from the Sui Foundation

Greg Siourounis, Managing Director of the Sui Foundation, believes that Sui’s rapid growth in decentralized finance, along with the significant assets and projects coming to the ecosystem, demonstrates its readiness to incorporate the latest in tokenized real-world assets. The introduction of a native version of Ondo’s USDY on Sui will unlock exciting new opportunities for builders, developers, and users of their applications.

What About the Future of Tokenized Real-World Assets on Sui?

With the integration of Ondo Finance and the launch of USDY on Sui, we can expect to see even more tokenized real-world assets being introduced to the platform. This trend signals the increasing adoption and acceptance of blockchain technology and its potential to revolutionize the way we interact with real-world assets. As more developers and builders join the Sui ecosystem, the possibilities for innovation and growth are endless.

Q&A

Q: What are the advantages of tokenized real-world assets on blockchain platforms like Sui?

A: Tokenized real-world assets provide increased accessibility, liquidity, and transparency to traditional assets. By representing assets on the blockchain, they can be easily traded and transferred globally, enabling fractional ownership and democratizing investment opportunities.

Q: How are tokenized real-world assets backed?

A: Tokenized real-world assets can be backed by various means, including physical assets like real estate, precious metals, or artwork, or financial assets like fiat currencies or government bonds. The backing ensures that the tokens hold tangible value and can be redeemed for the underlying asset.

Q: What risks should investors be aware of when dealing with tokenized real-world assets?

A: Investors should be cautious about the legal and regulatory aspects surrounding tokenized assets, as different jurisdictions may have varying rules and requirements. Additionally, they should assess the credibility and transparency of the issuing platform or project to avoid scams or fraudulent activities.

Conclusion

The integration of Ondo Finance on Sui and the availability of USDY token offer exciting possibilities for builders, developers, and users within the Sui ecosystem. As the tokenized real-world asset market continues to grow, the future of blockchain-based financial applications looks promising.

For more information, please visit the following links: – Ondo Finance – Sui Network – Aftermath Finance – Cetus – NAVI Protocol – Typus Finance – Bucket Protocol – Turbos – KriyaDEX

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Contact: Sui Foundation – [email protected]

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