Ondo US Dollar Yield Token
USDY
Ondo US Dollar Yield Token (USDY) is a Tokenized Treasury Note issued by Ondo Finance. It provides institutional investors with on-chain exposure to short-dated us treasuries (1–3 month), combining the safety profile of traditional fixed-income instruments with the settlement efficiency of tokenized assets.
Treasury Overview
| Symbol | USDY |
| Issuer | Ondo Finance |
| Category | Tokenized Treasury Note |
| Underlying | Short-dated US Treasuries (1–3 month) |
| Credit Rating | Not rated |
| Liquidity | high |
| Current APY | 3.55% |
| Total Value Locked | $1.11B |
| Data as of | 2026-05-07 |
Collateral & Underlying Assets
Short-dated US Treasuries (1–3 month). US Treasury and government securities are obligations of the federal government and carry the highest sovereign credit quality. These instruments form the backbone of institutional cash management globally.
Risk Analysis
Credit Quality
This asset does not carry a formal credit rating from a major rating agency. Investors should conduct independent due diligence on the underlying collateral and issuer creditworthiness.
Liquidity Risk
Daily redemption available. Investors can typically exit at NAV within one business day, making this suitable for operational treasury and cash management use cases.
Yield Analysis
Current APY
3.55%
Total Value Locked
$1.11B
Source: DeFiLlama / RWA.xyz. Yields are variable and reflect recent on-chain data. Past performance is not indicative of future results.
Duration & Rate Sensitivity
Low — short duration limits exposure to interest rate risk. Small rate increases have minimal price impact.
Key Insights
- –Variable-rate yield token
- –yield distributed via rebasing or price appreciation
Issuer & Provenance
USDY is issued and managed by Ondo Finance. Risk profile and collateral data was last verified on .
Issuer disclosure ↗