Ondo Finance, in partnership with NAVI Protocol, has launched a campaign to promote its stablecoin USDY, offering users the opportunity to earn rewards by providing liquidity.
USDY Promotion Campaign
From February 26 to March 12, Ondo Finance and NAVI Protocol are running a campaign where participants can earn rewards by providing liquidity for USD through NAVI Protocol. The campaign offers a total reward pool of $35,000, with $10,000 shared among the top 100 participants and the remaining $25,000 distributed among 2,500 additional participants.
Features of USDY Stablecoin
USDY is a unique stablecoin by Ondo Finance, earning daily interest for its holders through backing by U.S. Treasury bills and bank deposits. Unlike traditional stablecoins, USDY offers income, making it an attractive option in the DeFi space.
Integration Across Platforms
USDY was introduced on the Sui blockchain in March 2024 and has since expanded to other networks including Cosmos, Aptos, and Arbitrum. Among other platforms supporting USDY are Aftermath Finance, Cetus, and Typus Finance.
The campaign by Ondo Finance and NAVI Protocol represents a significant step in promoting USDY and showcases its potential as an income-generating stablecoin in the DeFi sector.
