Ondo US Dollar YieldUSDY

USDY is a tokenised note issued by Ondo USDY LLC, launched in 2023. It represents a claim on short-dated US Treasuries and bank demand deposits, giving holders access to T-Bill yield in tokenised form. Yield accrues via a rebasing mechanism (USDY) or a price-accumulating wrapper (rUSDY) depending on the version. USDY is available on multiple chains including Ethereum, Solana, Mantle and others, but is restricted in the US and certain other jurisdictions. As a tokenised real-world asset, it carries credit risk on the underlying assets, regulatory risk on the issuer, and smart-contract risk on each supported chain.