Ondo USD Yield fund
Overview
Ondo USD Yield (USDY) is a yield-bearing token issued by Ondo Finance and described by Ondo as the world's first freely transferable yield-bearing token secured by U.S. Treasuries. Rather than being a payment stablecoin, it accrues yield daily to whoever holds it, and it is distributed as a continuous Regulation S offering to non-U.S. individuals and institutional investors. The backing portfolio is dominated by short-term U.S. Treasuries — 98.71% as of the data shown on ondo.finance on 22 July 2026 — with the remainder in bank deposits and cash equivalents; the same disclosure showed $2.17B of underlying assets against $2.13B of outstanding USDY, a 105.96% collateralisation ratio, and TVL of $2.16B. The advertised rate at that time was 3.55% APY, against a 3.79% yield-to-maturity on the underlying assets. USDY exists in two forms: USDY, which accumulates value in its price, and rUSDY, a rebasing version that holds a $1 unit price and distributes tokens daily. It is live on Ethereum, Mantle, Solana, Sui, Aptos, Noble, Arbitrum, Stellar, Sei and BNB Chain. USDY was built as a transferable alternative to permissioned tokenised Treasury products and has expanded to ten networks. Its overcollateralisation buffer (about 6% as of July 2026) is designed to absorb interest-rate moves in the underlying Treasury portfolio.
Within the DeFi Intel graph, Ondo USD Yield connects to 13 tracked entities, most strongly to Ondo Finance, Ethereum, Solana.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 13 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Ondo Finance | 95% |
deployed_on | Ethereum | 85% |
deployed_on | Solana | 85% |
deployed_on | Arbitrum | 85% |
deployed_on | Polygon | 85% |
deployed_on | Aptos | 85% |
deployed_on | Mantle | 85% |
deployed_on | Sui | 85% |
deployed_on | Plume Network | 85% |
deployed_on | Sei | 85% |
Frequently asked questions
What is Ondo USD Yield?
Ondo USD Yield is a fund tracked in the DeFi Intel knowledge graph. It is connected to 13 other tracked entities, most strongly to Ondo Finance, Ethereum, Solana.
What type of entity is Ondo USD Yield?
Ondo USD Yield is classified as a fund (fund) in the DeFi Intel knowledge graph.
What is Ondo USD Yield connected to?
In the DeFi Intel knowledge graph, Ondo USD Yield is linked to 13 other tracked entities, most strongly to Ondo Finance, Ethereum, Solana.
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