According to Foresight News, Solana's ecosystem derivative protocol, Drift Protocol, has started supporting USDY as collateral. This development was revealed by a tweet from RWA protocol Ondo.
USDY holders can now use their yield tokens as collateral for trading and perpetual contracts, thereby enhancing capital efficiency. Additionally, users have the option to deposit and borrow USDY on Drift. This move is expected to provide more flexibility and options for users within the Solana ecosystem.