TL;DR
- BounceBit integrates USDY, Ondo Finance’s stablecoin, into its CeDeFi V2 platform, offering yields backed by real-world assets.
- USDY provides a 4.65% APY and daily liquidity, allowing users to earn yields without intermediaries, and is especially attractive to non-U.S. investors.
- The CeDeFi V2 upgrade adds multi-chain support and new yield strategies, improving flexibility and user experience.
BounceBit continues to advance as a CeDeFi platform, announcing the integration of USDY, the stablecoin backed by U.S. Treasuries, developed by Ondo Finance.
This will be crucial for the BounceBit ecosystem. It will offer its users access to yields backed by real-world assets through a portfolio of U.S. Treasury bonds, which is essential for strengthening the credibility and stability of the platform.
USDY has an annual interest rate of 4.65% APY. It has been integrated as the first tokenized asset backed by U.S. Treasuries in the CeDeFi environment of BounceBit. This stablecoin is a secure and profitable alternative, especially attractive to non-U.S. investors, who can now access dollar-denominated yields without having to directly engage with the bond market. Additionally, USDY offers daily liquidity, making it easy for users to enter and exit their investments at any time.
BounceBit Offers Safe, Stable Yields with Daily Liquidity
The integration of this asset is a huge step forward in terms of product diversification within BounceBit. It expands the possibilities for users to generate yields within a regulated and transparent framework. Through the new USDY vault on the platform, users can deploy their assets and start earning yields directly, without the need for intermediaries, taking advantage of the benefits of blockchain technology and Treasury-backed assets.
In terms of functionality, the CeDeFi V2 update has brought several improvements, including multi-chain support, allowing users to make transactions across different blockchains like Ethereum, Binance Coin, Solana, and Bitcoin. This removes the need for cross-chain bridges and streamlines the user experience when interacting with the platform. Additionally, the upgrade offers new yield strategies, such as automatic, fixed, and manual options, to maximize yields and enhance user flexibility.
Since its launch, the CeDeFi V2 update has driven the growth of BounceBit, with a steady increase in fund inflows, and there is strong interest in the opportunities the platform offers