Ondo Finance Expands USDY Access on Arbitrum

- Ondo Finance is launching the Ondo US Dollar Yield Token (USDY) on Arbitrum, an Ethereum layer-2 network.

- USDY allows you to earn up to 5.35% per annum on stablecoins such as USDC.

- USDY is backed by bank deposits and short-term treasury bills.

- USDY has a total value locked (TVL) of $364 million.

- Tokenized treasury bill products are gaining popularity, but caution is advised. 🚨