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MANTRA and Ondo Finance Join Forces to Enhance Liquidity in RWA Tokenization

MANTRA, a leader in the real world asset (RWA) tokenization sector within the digital assets industry, has announced a significant new onchain product.

This major development will see two prominent players in the RWA space collaborate to build substantial liquidity support for RWA tokenization, an area of decentralized finance (DeFi) that has garnered notable institutional interest this year.

MANTRA’s New Onchain Product:

MANTRA will debut Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when its blockchain launches later this year. USDY offers holders exposure to short-term US Treasury yields while retaining the utility of stablecoins. It’s important to note that USDY is not available in the US or to US persons and is not registered under the US Securities Act.

Celebrating the Liquidity Milestone:

To mark this significant milestone, both the Ondo Foundation and MANTRA will incentivize a multi-chain vault. Users who contribute USDC to this vault will gain immediate access to high-quality yields. Those who stay in the vault until the MANTRA Chain’s mainnet launch will receive ONDO tokens and mainnet OM coins in addition to the underlying yield. The vault is expected to open to the public in June on Ethereum and Base.

Incentive Structure:

To ensure returns are not diluted as participation increases, MANTRA and the Ondo Foundation have designed a progressive reward schedule. Increased rewards will be distributed as the community reaches participation milestones.

MANTRA’s Vision for DeFi and Institutional Finance:

MANTRA aims to integrate DeFi composability with institutional-grade finance onchain. USDY’s features include overcollateralization, third-party oversight, and robust investor protections, establishing it as a cornerstone asset for the growing RWA ecosystem.

Executive Insights:

Nathan Allman, CEO of Ondo Finance, expressed enthusiasm, stating, “We are excited to see the USDY vault launching on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is a significant step in bridging traditional finance and decentralized finance at scale.”

John Patrick Mullin, co-founder and CEO of MANTRA, added, “Introducing Ondo USDY, the leading tokenized US Treasury product, represents a major expansion of our ecosystem. Having a fungible interest-bearing base layer of liquidity via USDY is crucial to enhancing our onchain liquidity profile. This innovative product launch is part of MANTRA Chain’s broader strategy to collaborate with leading RWA projects to create the most liquid Layer 1 blockchain tailored for RWAs.”

Conclusion:

MANTRA’s collaboration with Ondo Finance marks a pivotal advancement in the RWA tokenization sector. With the launch of USDY and the multi-chain vault, MANTRA is set to enhance liquidity and bridge the gap between traditional finance and decentralized finance, further solidifying its position as a leader in the digital assets industry.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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