- Oondo Finance integrates LayerZero for multi-chain transfers of USDY tokenized property.
- The full worth locked (TVL) of USDY backed by US Treasuries exceeds $600 million.
- The combination ensures safe, seamless cross-chain transactions with LayerZero.
Oondo Finance is a number one platform in tokenized real-world property (RWA) announced Its integration with LayerZero, an interoperability protocol designed to facilitate safe and seamless multi-chain transfers.
This collaboration will permit Oondo to develop entry to a number of blockchains, together with its flagship yield-bearing product, USDY, a tokenized US Treasury asset. EthereumArbitrum, and Mantle.
USDY, which has quickly gained recognition in crypto, at the moment boasts a market capitalization of over $452 million, making it the third largest tokenized US treasury product.
With over $600 million in complete worth locked (TVL), Oondo’s suite of RWA merchandise is now the most important within the crypto trade, providing traders a yield backed by US Treasuries.
By integrating LayerZero’s Omnichain Fungible Token Normal (OFT), Ondo can facilitate frictionless, cross-chain transactions for USDY holders with out the necessity to create new tokens on totally different networks.
Using LayerZero’s know-how ensures that each RWA switch is secured with institutional-grade safety, backed by a various set of decentralized validator networks (DVNs) akin to Acceler Community, Polyhedra Community, and LayerZero Labs. This sturdy safety infrastructure is designed to provide institutional traders the arrogance to seamlessly switch their tokenized property throughout interconnected blockchains.
The combination permits USDY holders to simply switch their tokens between chains utilizing Ondo’s native bridge, which is powered by LayerZero and Stargate Finance.
With plans to develop integration past Ethereum, Arbitrum, and Psychological, Ondo goals to additional broaden entry to tokenized US treasuries and improve the effectivity of decentralized finance (DeFi).
As Oondo continues to innovate within the RWA area, the partnership with LayerZero units a brand new customary for safe, cross-chain interoperability, paving the best way for additional progress in tokenized real-world asset markets.
