Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is a tokenized, yield-bearing asset in the real-world assets category, designed to give holders on-chain exposure to returns generated by US dollar-denominated instruments such as US Treasury bills and bank deposits. It addresses the problem of idle digital-asset capital earning little or nothing by wrapping traditional fixed-income exposure into a token that can move across blockchains. It is aimed at individuals and institutions who want the programmability of a blockchain-native asset combined with exposure to conventional dollar-yielding instruments.

USDY is issued by Ondo Finance and backed by real-world assets held off-chain, with the token representing a claim on that collateral pool; the token's price therefore drifts upward over time as yield accrues rather than staying fixed at one dollar. It exists across multiple networks simultaneously, including Ethereum, Solana, Arbitrum, BNB Chain, Aptos, and Sui, allowing it to be used in the smart-contract environments native to each of those ecosystems. There is no recorded consensus algorithm or block time associated with USDY itself because it is a token issued on top of existing base-layer networks rather than a standalone blockchain.

The data stored for USDY records no fee-stream metrics such as protocol revenue, fee recipients, or distributions, so this site carries no fee-based measures for it. The economic model implied by the asset's design is that yield generated by the underlying real-world collateral accrues into the token price, which is why the current price of 1.14 USD sits above a one-dollar par value and the token is approximately 9.41 percent below its recorded all-time high. The stablecoin-equivalent circulating supply stands at 2,180,534,083.10 USD at the time of measurement, and that figure grew by approximately 1.29 percent over the preceding 30 days, reflecting net issuance activity.