Ondo Finance launches the USDY fund on the Sei network, the first tokenized U.S. Treasury bond product on a highly scalable blockchain.
The USDY fund of Ondo Finance confirms a new advancement in the field of real-world assets on the blockchain, while demonstrating a strategic relationship with the reputable financial project supported by the Trump family.
MAIN CONTENT
Ondo Finance announces the USDY fund on the Sei network, focusing on tokenizing U.S. Treasury bonds.
The USDY product is the first to appear on a scalable blockchain, aiming at real-world assets.
The strategic relationship with the World Liberty Financial project supported by the Trump family enhances credibility and reliability.
What is Ondo Finance and what is its role in the field of real-world assets on the blockchain?
Ondo Finance is viewed as one of the pioneering protocols for real-world assets on the blockchain, with deep expertise in tokenizing traditional assets.
The Ondo Finance team has developed complex financial products, helping investors easily access off-market assets through transparent and secure blockchain mechanisms. The launch of the USDY fund on the Sei network reinforces their position in the decentralized DeFi market.
Why is the launch of the USDY fund on the Sei network important to the DeFi industry?
The issuance of the USDY fund on the Sei network represents a breakthrough in technical and strategic terms, as it is the first tokenized U.S. Treasury bond product on a highly scalable blockchain platform.
The CEO of Ondo Finance emphasizes that the performance of the Sei network helps optimize transaction fees and processing speeds, addressing the limitations of traditional blockchains, thereby facilitating financial institutions' access to assets that have had little exposure on the blockchain.
“The unique combination of the Sei platform and Ondo's Tokenization protocol has ushered in a new era for real-world assets on a highly scalable blockchain.”
Michael Anderson, CEO of Ondo Finance, July 2024
What significance does the relationship between Ondo Finance and the World Liberty Financial project hold?
According to information from Ondo Finance, the close connection with the World Liberty Financial project supported by the Trump family somewhat enhances the credibility of the USDY fund and the Ondo protocol in general.
This financial project has purchased ONDO Tokens as part of a reserve strategy, demonstrating trust in the development potential and safety of the project. This commitment helps investors and the community increase their confidence in Ondo Finance's operational and sustainable development capabilities.
How does the USDY fund operate on the Sei network?
The USDY fund uses tokenization mechanisms to convert U.S. Treasury bonds into Tokens on the Sei network, allowing for easier trading and management compared to traditional methods.
The Sei platform provides superior scalability, helping to minimize Gas fees as well as increase transaction processing speeds. This makes USDY an attractive product for investors looking to access traditional assets combined with blockchain advantages.
What outstanding advantages does the Sei network provide to Ondo Finance?
Sei is a specialized Layer 1 blockchain for DeFi, notable for its fast transaction processing, low fees, and high stability. This is a crucial factor that helps Ondo Finance create the first real-world asset product with scalability and efficiency on the blockchain.
The technical report of Sei in 2024 shows that transactions on this network can increase multiple times compared to traditional networks, while also supporting flexible Cross-Chain, suitable for the diversified asset model of the USDY fund.
“Sei is not just a technology platform but also a strategic partner that helps Ondo develop large-scale real asset fund products in the future.”
Julia Tran, Business Director of Sei Network, July 2024
How have other types of real-world assets been tokenized on the blockchain?
Real-world assets including bonds, real estate, and commodities are converted into Tokens on the blockchain, helping to increase liquidity and transparency in transactions.
Many funds around the world have adopted Tokenization to attract capital and expand their investment portfolios. However, Ondo Finance is the pioneering unit that brings U.S. Treasury bond assets tokenized on a highly scalable blockchain, meeting the demand for fast trading and low costs.
Comparison of tokenizing U.S. Treasury bonds on popular blockchains today
Criteria Ethereum Binance Smart Chain Sei Network (Ondo USDY) Scalability Medium, high gas fees Fairly good, low fees Very high, optimized fees and speed Reliability Security Extensive, proven Reliable but fewer users Developing, combining Layer 1 security Supporting real assets Limited bond products Benefiting, but fewer specialized products Leading for tokenized U.S. Treasury bonds
Frequently Asked Questions
What is Ondo Finance?
Ondo Finance is a protocol for real-world assets on the blockchain, providing tokenized financial products with high safety and transparency.
What highlights does the USDY fund have?
USDY is the first tokenized U.S. Treasury bond product on a blockchain strong in scalability and low transaction fees, facilitating effective access to real-world assets.
Why choose the Sei network for USDY?
Sei offers high transaction speeds and low fees, suitable for operating tokenized financial products that require performance, stability, and scalability.
How does World Liberty Financial support Ondo Finance?
The project supported by the Trump family has purchased ONDO Tokens as a strategic reserve, contributing to enhancing trust in the project and the USDY fund.
What benefits does tokenizing real assets on the blockchain bring?
Tokenization enhances liquidity, transparency, reduces transaction costs, and provides easier access to traditional assets for global investors.
Source: https://tintucbitcoin.com/ondo-finance-ra-mat-quy-trai-phieu/
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