Bittime - The latest ONDO coin prediction which is up 5% since the Mantra project was released. The release of the Mantra project has had a positive impact on ONDO.
Even though the increase is limited to 5%, at least Mantra's presence could change the landscape of crypto fans who support ONDO.
Check out the latest ONDO coin predictions which will rise 5% in the following article.
Release of Mantra and Impact for ONDO
MANTRA has announced the launch of a new savings vault powered by Ondo and using the USDY token .
This announcement had a positive impact on Ondo market prices, which saw an increase of 5%.
The new product launched by MANTRA is expected to increase the depth of Real World Asset (RWA) tokens, an increasingly popular new segment in decentralized finance (DeFi) and attracting interest from institutional investors.
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By launching USDY and using tokenized Ondo notes, where returns are tied to short-term US Treasury yields, MANTRA has made significant steps towards integrating traditional finance into DeFi.
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USDY Vault Integration Details with MANTRA Chain
The new protocol will include USDY as a native asset on the MANTRA Chain whose mainnet is expected to launch by the end of the year.
In preparation for the mainnet launch , MANTRA and the Ondo Foundation are developing a multi-chain vault that supports the Ethereum and Base networks.
These vaults allow participants to store USDC and receive returns generated mostly from US Treasury securities.
📢 We are delighted to announce that @MANTRA_Chain will feature Ondo's flagship yieldcoin, $USDY , as a genesis asset when its blockchain debuts. $USDY provides exposure to short-term US Treasuries alongside the utility of stablecoins.
— Ondo Finance (@OndoFinance) May 31, 2024
Welcome to the Ondo Ecosystem, Mantra!
📰… pic.twitter.com/81XHU4ORRs
To make the offer more attractive to the community, MANTRA and Ondo have proposed an enhanced schedule that increases rewards according to the level of community involvement.
The offer aims to prevent dilution of returns due to the increase in the number of investors. The launch of this vault was strategically designed to ensure adequate and optimal liquidity prior to full operationalization of MANTRA Chain.
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Latest ONDO Coin Predictions
This USDY integration is targeted to attract institutional investors to MANTRA's services, by implementing over collateralization , third party monitoring, and strong customer protection provisions.
These elements increase the confidence and stability of the RWA market, which is an important component of USDY as a financial innovation.
This news was received positively by the market, as seen from the increase in ONDO prices after the announcement.
Despite a bearish start, ONDO's bullish momentum recovered and the price traded up 5.84% to $1.25 at press time.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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