Grvt Partners With Ondo to Build $100M Position in USDY
TL;DR:
- Grvt partners with Ondo Finance to build a $100 million position in USDY, the tokenized bond backed by U.S. Treasury securities.
- The platform will integrate USDY into Grvt Earn and manage the asset on its own balance sheet, channeling an approximate 3.5% yield into its users’ base rate.
- With full deployment, the position would represent approximately 4.6% of USDY’s current AUM, which stands at around $2.14 billion according to RWA.xyz.
Grvt, the CeDeFi platform operating as a hybrid decentralized exchange built on ZKsync, Ethereum’s scalability layer, announced a partnership with Ondo Finance to build a $100 million position in USDY over the next year. The deal represents a major step toward integrating tokenized fixed income into everyday financial products on the blockchain.
Grvt: Generating Yields Without the Hassle
The core mechanism of the agreement involves integrating USDY into Grvt Earn, the platform’s yield product. The platform will manage the asset directly on its own balance sheet, meaning users do not need to acquire or manage the token themselves. The returns generated are channeled into the single base rate that users already receive, adding to other sources such as platform revenues and lending through Aave.
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